The Home Insurance Guru

If the fee is simply restructured, on the surface, you see no issues. The Insurance companies will be able to correct their balance sheets and allow reserves to be stronger which is good  for all of us and has some merit. However, to do this, the payment structures would be differant and the money would not be as easily accessable so  money would have to be borrowed each year to help cover short term shortfalls. This cost will be Millions of dollars each year and possibly 10’s of millions. This cost will also be passed to the consumer all to save the Insurance companies balance sheets. I already pay way to much for Home Insurance and I want my prices to go down, not up!! Please read the full article below to understand the process and it’s many complications. Please call L & S Insurance  at 1-888-244-7400 for quotes on Home, Auto, Business & Commercial, Flood and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/02/28/283079.htm

This is  real good explination about Citizens Insurance claims process and what will happen upon being  hit hard with a Hurricane and what would happen. I talk about this in my classes I teach, but most do not understand. If you are in Fort lauderdale or South Florida, then ot could be worse as premiums are already higher. Please enjoy the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Car, Business & Comercial and Life Insurance as well.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=4&id=287815

In an article in Property & Casualty 360 you can read on all of the excuses justifying the new pay raises. It is nice to be on top even though they say, they need to pay more to get the best help in underwriting and claims. You can judge for yourself, but know that after all the dust settles, we will soon see a new Citizens and/or Property Insurance bill pass in Tallahassee and rates will go up more significantly again later this year and next. That to me is the Big Issue as who is really looking out for the consumer. Governor Rick Scott has some good sound bites about Citizens Insurance, but they are doing exactly what he wanted them to do and at lightening speed since Barry Gilway is only in his position for 8 months. Fort Lauderdale and South Florida will be hit the hardest, but time will tell. Please  enjoy the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.propertycasualty360.com/2013/02/20/florida-citizens-ceo-gilway-addresses-criticism-to

Weston Insurance the newest of companies just picked up 31K policies from Citizens Insurance and now they have a book of business and some tax breaks as well. This is what is happening and we only hope that these new companies stay in business. If they don’t then what a nightmare we will have again. I am sure we will have plenty of our clients be taken out as well so we will see how the rates are when it happens.If this works then Citizens will have had huge reductions in many areas of their financials which is good for everyone. Please read the full article and please call L & S Insurance  at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/02/14/281261.htm

Items to be duscussed as spoken here before;

1- Depopulating Citizens Insurance- includes diverting applications when they come in as well.

2-Reducing the risk on the Florida cat fund by going to the Private reinsurance markets which are more costly to the consumer.

3-Enforcement of the 15% rule for premiums to be eligable for Citizens

4-Rate Hikes at higher levels than we have seen

5- rate Hikes by Citizens to be higher than 20 private carriers offering business in the area.

6 Agents commissions which are always a target, but we do not even Like Citizens or anything about them.

All of our legislators in Tallahassee will be discussing this including Governor Rick Scott, Insurance commissioner Kevin McCarty and others as the bill should be ready in about 2 weeks which is still 2 weeks before the session starts. Please read the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/02/11/280846.htm

This bill will try to cover all of the things I have been showing over the last several months. Since this year is not an election year, anything goes, so this year is likely to have some real changes. The issue is who will benefit? There could be more private Insurance companies, less policies in Citizens, and The cat fund could put Re-insurance back to the private market as Governor Christ had put Fl0rida at risk by becoming a reinsurer. The will help save Citizens from going under beyond 1 storm or sooner and the Florida Cat fund as well, but who will be the real loosers?? That my friend is the consumer(us), because to save Citizens and the Florida Cat Fund premiums will continue to rise. Buying insurance in Fort Lauderdale and South Florida is already so expensive, but  all of these transitions could cause some major rate hikes still to come. What will the people of Florida do?? Well it seems the the U.S.  Governmant will bail out any catastrophe as proved with Hurricane Sandy since a 50 billion dollar bill to help those who chose to not have insurance is now law. If the Fedeal Government and the Legislator in Washington D.C. will save everyone from these cats then why should our prices rise and how can we use this to our advantage?? There is still the questions about Citizens Insurance as well and Insurance Commissioner Kevin McCarty still wants to change Citizens back to being the Insurer of last resort at rates 15-20% higher than anyone else in the marketplace. This is where we were before Governor christ and that was also not a good situation??? As usual, this will be discussed, most do not understand what will happen, but prices are still on the rise for 2013 and 2014 for sure. Please read the full article blow. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/01/31/279560.htm