Speaking to the Citizens Board of Governors Wednesday in Maitland, Fla., Citizens President/CEO and Executive Director Barry Gilway said successful depopulation efforts, affordable reinsurance and a vibrant private market have combined to reduce Citizens policy count to 598,408, as of March 13.
Created by the Florida Legislature in 2002, Citizens handled about 602,000 policies in January 2003. Following an unprecedented string of storms in 2004-2005, that policy count peaked in November 2012 at nearly 1.5 million policies, about 26 percent of the Florida residential market.
Barring a major storm, Gilway told board members that Citizens could see its footprint shrink to as low as 450,000 policies as financially sound private companies assume policies that, even a year ago, were expected to remain with Citizens for years to come.
“The reality is that significant improvements in profitability and the increasing financial strength of private companies has been a major factor in our ability to return to our role as the state’s insurer of last resort,” Gilway said, following his presentation to the board.
Please call L & S Insurance at 1-888-244-7400 to shop our now 22 carriers for Home Insurance, We also can help you with Auto, Flood, Business & Commercial Coverage & Life & Financial products as well. Please enjoy the full story below!
http://www.insurancejournal.com/news/southeast/2015/03/19/361169.htm
http://www.floridarealtors.org/LegislativeCenter/Flood-Insurance-Toolkit.cfm
Lot’s of good talking points for Realtors and I cover all of this in my Classes I teach in Fort Lauderdale and anywhere in the State of Florida. Please contact me for a class at your location at 1-888-244-7400 and please call L & S for quotes for Home, Flood, Auto,Business & Commercial, & Life & Financial quotes as well!
COLORADO, United States, Thursday February 5, 2015 – While long-range forecasts for 2015 Atlantic hurricane activity indicate another average to slightly below average season, there is some divergence of opinion so far in advance of the official start of the season on June 1.
Read more: http://www.caribbean360.com/news/mixed-predictions-2015-atlantic-hurricane-season#ixzz3TuU1HFwA
In December, the Colorado State forecasters noted that it was challenging to forecast whether or not the then developing weak El Niño would persist through the 2015 hurricane season. While significant weakening of the Atlantic Multidecadal Oscillation (AMO) and thermohaline circulation (THC) was noted during the spring of 2014, North Atlantic SST and sea level pressure patterns have since rebounded to conditions characteristic of an active era.
Read more: http://www.caribbean360.com/news/mixed-predictions-2015-atlantic-hurricane-season#ixzz3TuUArQO1
Hence a large range of uncertainty remains about the outlook, which appears to suggest anything from slightly above average to below average, based on the extended range qualitative outlook. Typically, hurricane seasons with those NTC values have the following tropical cyclone activity:
180 NTC – 14-17 named storms, 9-11 hurricanes, 4-5 major hurricanes
140 NTC – 12-15 named storms, 7-9 hurricanes, 3-4 major hurricanes
75 NTC – 8-11 named storms, 3-5 hurricanes, 1-2 major hurricanes
40 NTC – 5-7 named storms, 2-3 hurricanes, 0-1 major hurricane
Read more: http://www.caribbean360.com/news/mixed-predictions-2015-atlantic-hurricane-season#ixzz3TuUGJDnW
What this really means is anything could happen and until it is much closer we should expect the worst and hope for the best scenarios which is like 2014!!!! This is not likely and we all need to watch what happens this season. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Flood, Auto, Business & Commercial & Life & financial products as well. Please enjoy the full article below;
http://www.caribbean360.com/news/mixed-predictions-2015-atlantic-hurricane-season
The Home Insurance Guru 