FEMA


Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

This is so Important to read as so many will be affected and the news will break un just 3 weeks .

The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the state’s property insurance market, and more than a dozen more could be downgraded in the next few months.

In a letter dated Dec. 20, 2019 that was forwarded to Insurance Journal, Demotech President Joe Petrelli warned Barry Gilway, head of state-backed Citizens Property Insurance Corp., that Gilway’s hoped-for shrinking of Citizens’ policy count might be “more difficult than expected as Demotech would be downgrading several carriers in January, February and March 2020.”

Please enjoy the full article below and read it all!

https://www.insurancejournal.com/news/southeast/2020/01/09/554155.htm

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

This carrier was famous for low down payments and then people cancel! Cheap ways to buy Insurance to get tags and then cancel. Options will be tough for all.

please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/01/07/553838.htm

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

As a board member of the MAAC committee in Florida for Citizens Insurance, I can conform this for sure. On top of all of the other carriers also trying to reduce exposure and cut the middle markets, where will people go to get Insurance coverage especially here in S. Florida. I work with Chaisteli Insurance for Property Coverage and together we  can offer help and be sure you understand all options.

 

Florida’s insurer of last resort Citizens Property Insurance Corporation will make shrinking its policyholder count a priority next year, despite potential headwinds that may come from Florida domestic carriers raising rates and restricting coverage.

Prompted by a request from Florida State Senator Jeff Brandes, the company announced at its December Board of Governors meeting that it will again seek input from independent evaluators to determine if there are exposure reduction or depopulation opportunities that can be identified for Citizens to further reduce its overall exposure and financial impact on the state.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/12/20/552579.htm

 

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

The head of Citizens Property Insurance Corp. says it is already seeing a difference in assignment of benefits (AOB) litigation since reforms passed by the Florida Legislature took effect in July. Meanwhile, many Citizens policyholders may see premium relief from the new law, as the insurer’s post-AOB reform rates will take effect next month.

Speaking at the Florida Chamber of Commerce’s Insurance Summit in Miami in early November, Citizens President, CEO and Executive Director Barry Gilway said thanks to AOB reform Citizens litigation has dropped from 2,000 to 1,750 suits a month over the last two months

Wow, so many claims monthly, please click on the attachment below to read the article;

https://www.insurancejournal.com/news/southeast/2019/11/20/548368.htm

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer

State Finds Florida Specialty Insurance Insolvent; 90K Homeowners Lose Coverage

Florida personal lines insurer Florida Specialty Insurance Co. (FSIC) has been ordered into receivership and will be liquidated after state regulators determined the company is insolvent and unable to establish a viable business plan moving forward.

The Florida Department of Financial Services has been appointed as the receiver and the insurer’s more than 90,000 policyholders have been notified to find a new insurance company immediately. DFS has also alerted agents to assist their policyholders with finding new coverage

Please enjoy the full article below;

 

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/10/02/544169.htm

 

Please call  Lee from Calles Financial at 954-270-7966, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.

Three people in Miami have been arrested in an alleged $39,000 personal injury protection (PIP) fraud scheme, according to a statement from the Florida Department of Financial Services.

Alean Machado, Barbarito Leyva-Claro, and Yoandra Rodriguez-Pena were charged with insurance fraud, grand theft, patient brokering and organized scheme to defraud for their role in the scheme that was exposed during an undercover operation.

Please enjoy the full article below.

https://www.insurancejournal.com/news/southeast/2019/10/04/544435.htm

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