The Home Insurance Guru

This sounds a  lot like politics between Governor Rick Scott and Barry Gilway the President of Citizens Insurance, and they are best of frieds you should know. The new  bill is now  signed so we soon will see if Citizens and the State of Florida can actually figure out how to control the 15% rule which is the tricky part to all of this. Here in Fort Lauderdale and all of South Florida, the rate hikes continue to come and will continue again next year. Please enjoy the full article on the Clearing House bill and also call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.insurancejournal.com/news/southeast/2013/05/31/293932.htm

The fine is for Claims related compaints from all types of sources. Universal can pay or fight and we believe they will fight it and they have 21 days to decide. Time will tell, but Universal is still a large Florida based  Carrier that writes a lot of business and is committed to Florida. I assume when the dust settles all will be ok,but till then please enjoy the Full article. Please call  L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.insurancejournal.com/news/southeast/2013/05/31/294005.htm

60K policies to be removed quickly and the good news for consumer’s is that Heritage Insurance  will agree to the Citizens Glide path for rate hikes cappped at 10% for the next 3 years.  This is the good news for all of us as now we know what will happen and what to expect and tell our clients to expect. This is a sweet deal for Heritage as they will be paid by Citizens for every policy removed because they will take over all claims from 1/1/2013. Since they are selecting the policies they are taking, none with claims are likely so the money will go to surplus. Since that in tune with the Re-insurance program in place they will be welll capitalized for claims which is what will really matter when a Hurricane hits Fort Lauderdale and anywhere in South Florida. Since most of the policies will come from South Florida, when a Hurricane really hits they will need the money for sure. This is still good news overall for the Florida consumer’s and the agents as well. Please read the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.insurancejournal.com/news/southeast/2013/05/28/293434.htm

This company is only 1 year old, has close ties with Governor Rick  Scott  including huge campaign Contributions, and a new deal for an additional 60K policies from Citizens Insurance. This new deal, arranged by President Barry Gilway, is differant than other’s in that Heritage will take care of all claims from 2013 and current, but they can choose the policies they take, so none with claims pending are likley to be had????  They will be paid hundreds of millions of dollars to take the policies with no claims and that is a huge winfall for them. I do not know what is legal or moral, but it is happening unless Senator Fasano’s complaints go further!  In any event, the people of Fort Lauderdale and all of South Florida are feeling the wrath of higher rates and there seems to be no end in sight. Please read the full article from the Insurance Journal 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/2013/05/27/293303.htm

As many as 20 storms could develope with up to 11 as Hurricanes and perhaps up to 6 as major storms that could affect the US coastline. This is not what we need now with Insurance prices as high as they are here in Fort Lauderdale and all areas south of Lake Okeechobee. Warmer waters than usual with atmospheric climates allow this prediction to possibly be a reality soon. Please be careful this season and read this full article below to be informed. Please call L & S Insurance at 1-888-244-7400 for all of your quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well. Please be careful.

http://www.insurancejournal.com/news/national/2013/05/23/293144.htm

Almost 12 Billion in reserves which is the best we have seen in 20 years of existence. I guess the unusually large premiums have caused this proble to start to look better fiscally, but the new Predictions  for Hurricane Season will be out later this week. We will soon see what to expect here in Fort Lauderdale and all of South Florida. Please enjoy the full article from WCTV. 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.wctv.tv/home/headlines/Florida-Insurance-Fund-Stronger-for-Storm-Season-207571801.html

Hopefully with less Public Adjustors(17K from 30K) and the fact that they are still under the mircroscope, this is good news for them. We all hope this does not balloon into more and bigger Fraudulent claims like we had before with the Sinkhole issues among many other’s. In Fort Lauderdale this will mean more claims being submitted and resubmitted, so the strength of Citizens which is bad already will now get worse. Let’s hope the rest of this new bill works better for the consumer, but with higher prices still looming for next year, that does seem lilkely. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well. Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2013/05/14/291827.htm

3 storms hit Florida last year and they were all wet, but little to do with wind issues. This presents many problems including the predictability of where and when it will come. most of our technology has been toward wind speed and tracks, but now we are more prepared than we have been in the past. Please read the full article to better prepare yourself from water damage claims as Insurance companies like FEMA for Flood , and other Home Insurance companies like Citizens and all of the other’s will or will not pay.If you are in the Fort Lauderdale or anywhere in Florida, you should carry a Flood policy. People Inland with no mortgage and in a flood zone seem to think they are safe, but our Canal system allows for Flood waters to be in many parts of Florida so everyone should carry a Flood policy. Please call L & S Insurance for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well at 1-888-244-7400.

http://www.insurancejournal.com/news/southeast/2013/05/09/291385.htm

The watered down bill from the Senate was approved as a house bill that primarily deals with Citizens Insurance. Citizens needs to shrink and a clearing house where the policy given to Citizens can be shopped out before it is sent to be issued by an underwriter. If any carrier has rates even 15% higher for the same coverage, the client will be moved and no option for Citizens will exist for them. Companies will now be lining up when this starts and that could be as early as 1/1/2014!!!  In Fort Lauderdale the prices will still rise and since every carrier now knows that the pricing can be 15% more than Citizens, that pricing will likely be expected.  Although the bill does not dictate price for Citizens, the fact that 15% will now be enforced will allow the carriers to raise and keep rates at just under 15% of Citizens to be sure they maxinmize the premiums they can receive. In Fort Lauderdale and most of South Florida, this will continue to mean higher rates. Governor Rick Scott wanted more, but this is a bill he can sign and still try for re-election next year. After the election next year another bill will be easier to pass again. Please read the full article and the comments by FAIA president Jeff Grady. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood Business & COmmercial and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/05/06/290969.htm