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November 21, 2018

Florida Picks Up the Pieces from Powerful Hurricane Michael. How will this affect Fort Lauderdale and all of Florida’s Home Insurance rates?

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, OIR, Public Ajustors, Tallahassee | Tags: , , , , , , , , , , , , , , , , |
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Please call Lee Gorodetsky at 954-270-7966 for Free Insurance information & consulting on Insurance. Home Insurance, Car, Flood, Private Flood, Auto, Business & Commercial & Life, Health, Annuity and all group health Benefits as well.

It has been just over a month since Hurricane Michael slammed the Florida Panhandle as a Category 4 hurricane with wind speeds reaching just shy of Category 5 status.

The devastation from the storm that killed at least 35 people in Florida is still impacting residents and insured losses continue to climb as recovery efforts are in full effect and will be for some time.

“Michael saw our worst fears realized, of rapid intensification just before landfall on a part of a coastline that has never experienced a Category 4 hurricane,” University of Miami hurricane researcher Brian McNoldy said after the storm hit, as reported by The Associated Press.

The massive storm made landfall in Mexico Beach, Fla., on Oct. 10 with maximum sustained winds of 155 mph, according to catastrophe modeling firm AIR Worldwide. The minimum central pressure at landfall — a key measure of hurricane strength — was 919 mb, the third lowest on record for a U.S. hurricane, AIR said.

Michael is the most powerful hurricane to have come ashore in the Florida Panhandle since the first records were kept in 1851, said Dr. Peter Sousounis, vice president and director of meteorology, AIR Worldwide.

“Fueled by unseasonably high 84-degree sea surface temperatures in the Gulf of Mexico and unhindered by any prior landfall, Hurricane Michael rapidly intensified shortly before making landfall at close to Category 5 intensity,” Sousounis said.

Mexico Beach was “virtually obliterated” AIR said, as it was in the right eyewall of Michael where storm surge is typically the highest. In addition, the high wind speeds leveled buildings in the area, as well as took down power lines and countless trees.

Please enjoy the full article with Pictures below;

https://www.insurancejournal.com/news/southeast/2018/11/20/509157.htm

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October 22, 2018

Florida Residents Hit by Michael Return to Face Damage as Death Toll Climbs

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, Public Ajustors, Tallahassee | Tags: , , , , , , , , , , , , , , , |
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Please call Lee from Acentria Insurance at 954-270-7966 for free quotes on Home Insurance, Auto, Flood, private Flood, Car, Business & Commercial policies and Life, health and all types of group policies as well for individuals or businesses large and small.

More than a week after Hurricane Michael slammed into the Florida Panhandle, authorities are reporting three more deaths from the Category 4 storm as residents returning to their homes try to piece together their lives from the rubble left by strong winds and storm surge.

Michael slammed into Florida’s Panhandle with 155 mph (250 kph) winds on Oct. 10, retained hurricane-force winds as far inland as southern Georgia, and also affected the Carolinas and Virginia. Six deaths were reported in Virginia, mostly from flash flooding. North Carolina had three deaths, and Georgia had one.

 

Florida’s death toll stood at 17 on Thursday, said Emergency Management Division spokesman Alberto Moscoso. The official number included an additional death from Liberty County, and others confirmed as storm-related by district medical examiners, including 12 from the hardest hit Bay County.

Additionally, three more deaths have been confirmed as storm-related to bring Bay County’s total to 15 deaths, according to Whit Majors, chief investigator for the district medical examiner’s office. Majors said those deaths were reported to state emergency management officials. It wasn’t immediately clear why they were not yet added to the statewide tally.

Across the region, stunned residents continued picking up the pieces on Thursday, as many remained without electricity.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2018/10/19/505137.htm

 

October 17, 2018

Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village

Posted by homeinsuranceguru under Auto Insurance, CFO, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Governor Rick Scott, Home Owners Insurance, Legislators, OIR | Tags: , , , , , , , , , , , , , , , , |
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Please call Lee from Acentria Insurance at 954-270-7966 for free quotes on Home Insurance, Auto, Flood, private Flood, Car, Business & Commercial policies and Life, health and all types of group policies as well for individuals or businesses large and small.

Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts in areas impacted by Hurricane Michael.

The order by Florida Insurance Commissioner David Altmaier suspending and activating certain insurance rules was issued Oct. 15 in response to an executive order by Florida Gov. Rick Scott.

The order requires that insurers:

  1. Provide an additional 90 days to policyholders to supply required information to their insurance company. Many Floridians were displaced during this dangerous storm, and providing additional time to submit information to insurance companies gives them needed flexibility.
  2. Rescind for 90 days all non-renewals or cancellations issued to policyholders in the days leading up to Hurricane Michael. This gives policyholders 90 days to either renew their insurance policy, or find a new policy; and
  3. Freeze any and all efforts to increase rates on policyholders for 90 days.

“Governor Scott and Chief Financial Officer Jimmy Patronis have made it clear that the expectation for Florida’s insurance companies is to expeditiously respond to policyholders’ needs and to treat families fairly. The quick response of insurance companies is critical to the recovery of Florida families following Hurricane Michael,” according to a statement from the governor’s office.

Altmaier said the Florida Office of Insurance Regulation is working to “ensure every possible step that can be taken to assist those impacted by Hurricane Michael will be executed as soon as possible.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2018/10/16/504583.htm

 

 

October 15, 2018

Hurricane Michael’s Destruction in Photos. No one should have to go thru this. Fort Lauderdale and all of Florida are grieving with you all!

Posted by homeinsuranceguru under Auto Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor Rick Scott, Home Owners Insurance, Legislators, OIR, Public Ajustors, Tallahassee | Tags: , , , , , , , , , , , , , , , |
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Please call Lee from Acentria Insurance at 954-270-7966 for free quotes on Home Insurance, Auto, Flood, private Flood, Car, Business & Commercial Insurance as well as Life , Health and all group benefits large & small

Images compiled by Insurance Journal show the devastation to the Florida Panhandle caused by Hurricane Michael, which hit the region Oct. 10 as a Category 4 storm. Loss estimates range from $3 to $9 billion, according to catastrophe modelers, and some reports say the economic impact could be more than $25 billion.

Please watch this video and help all you can!

https://www.insurancejournal.com/news/southeast/2018/10/12/504423.htm

 

 

February 28, 2017

First Florida Bill Addressing AOB Introduced for 2017 Session, How will this affect Fort Lauderdale and S. Florida Home Insurance rates?

Posted by homeinsuranceguru under Auto Insurance, Barry Gilway, Citizens Insurance, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor Rick Scott, Home Owners Insurance, Insurance commissioner, Legislators, OIR, Public Ajustors, Tallahassee | Tags: , , , , , , , , , , , , , , , |
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Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial & Life & Financial products as well.

Florida now has legislation backed by the top Florida insurance regulator and the industry that promises to curtail homeowners insurance abuse under the assignment of benefits (AOB) feature.

Senate Bill 1038, filed Feb. 17 by State Sen. Dorothy Hukill and co-sponsored by Sen. Kathleen Passidomo, seeks to clarify the intent of the assignment of benefits provision for policyholders and limit the scope of benefits provided to those other than the named insured on the policy

The assignment of benefits bill would also instill specified conditions for assignment agreements to be valid. The bill stipulates that an assignment agreement will not be valid unless it meets the following conditions:

  • Agreement is in writing and is executed by all named insureds
  • Allows insureds to rescind the assignment agreement within seven business days without penalty
  • Requires the assignee to provide a copy of the assigned agreement to the insured no later than three business days after the agreement is executed;
  • And includes a written, itemized, per-unit cost estimate of the work to be performed by the assignee.

Other stipulations of the bill include: prohibiting certain provisions in an assignment agreement; specifying requirements for an assignee or transferee; and requiring an assignee to meet certain requirements as a condition precedent to filing suit under a policy.

Under Florida’s current one-way attorney fee statute, policyholders suing their insurer over a claim dispute can recover their attorney’s fees if the insurer is shown to have underpaid the claim, by any amount. The goal of the bill is to keep the assignment of benefits consumer protection in place, but take away the incentive – the one-way attorney fee – that the industry claims is driving abuse by assignees, who have included unregulated water mitigation, remediation and roofing contractors typically working with attorney groups.

If passed by the Legislature and signed into law, the bill would become effective July 1, 2017

Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2017/02/28/443010.htm

 

April 29, 2016

Florida Picks Deputy Altmaier to Be Next Insurance Commissioner

Posted by homeinsuranceguru under Auto Insurance, CFO, Flood Insurance, Florida, Governor Rick Scott, Home Owners Insurance, Legislators, OIR, Tallahassee | Tags: , , , , , , , , , , , , , |
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Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial & Life & financial products as well.

The Florida Cabinet has selected David Altmaier to be the state’s new insurance commissioner.

Altmaier, 34, is currently a deputy commissioner within the Florida Office of Insurance Regulation. He will replace Kevin McCarty, who is stepping down after 13 years on the job

Altmaier was one of three candidates, all OIR employees, interviewed at a special Cabinet meeting today.

He was selected after members of the Cabinet could not agree at previous meetings or at today’s on other candidates including Rep. Bill Hager; Jeffrey Bragg, a former federal insurance official; or Belinda Miller, who is OIR chief of staff.

Florida law requires that the governor and CFO must agree on the choice of an insurance commissioner, who can then be hired with the support of at least one other Cabinet member.

Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam joined Gov. Rick Scott and CFO Jeff Atwater in supporting Altmaier.

 

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2016/04/29/407083.htm

 

April 27, 2016

Updated: Florida Gov, CFO at a Standstill Over Next Insurance Commissioner; How will this affect Fort Lauderdale and all of Florida!

Posted by homeinsuranceguru under Auto Insurance, CFO, Flood Insurance, Florida, Fort Lauderdale, Governor Rick Scott, Home Owners Insurance, Insurance commissioner, Legislators, OIR | Tags: , , , , , , , , , , , , , |
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Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial, & Life & Financial products as well.

 

For the second time in a month, Florida Gov. Rick Scott and Chief Financial Officer Jeff Atwater could not reach an agreement over who will become the next insurance commissioner for the state.

At the April 26 Florida Cabinet Meeting, Cabinet Members Scott, Atwater, Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam interviewed a total of four candidates from the 71 applicants who applied to the position. The spot will soon be vacated by current Insurance Commissioner Kevin McCarty, who announced his plan to resign earlier this year.

McCarty said back in January that he would resign effective May 2. The Cabinet then opened up an online application with the goal of appointing a successor at its March 29 meeting, before the start of hurricane season. However, at the March meeting, Scott refused to second Atwater’s nomination of Hager. The Cabinet needs to reach a unanimous decision on the choice with Atwater and Scott’s votes carrying the most weight.

Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2016/04/27/406601.htm

 

 

January 11, 2016

McCarty Replacement Rumors Start Swirling, Successor has ‘Huge Shoes to Fill’, What will this mean for Fort Lauderdale and all of S. Florida?

Posted by homeinsuranceguru under Auto Insurance, Flood Insurance, Florida, Fort Lauderdale, Governor Rick Scott, Home Owners Insurance, Insurance commissioner, Legislators, OIR | Tags: , , , , , , , , , , , |
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News of who will replace Florida Insurance Commissioner Kevin McCarty has yet to be announced, but whoever takes over will have his or her work cut out for them when McCarty leaves office after 12 years on May 2.

“These are some pretty huge shoes to fill and it’s going to be tough,” said Jay Neal, president and CEO of the Florida Association for Insurance Reform (FAIR). “We need someone who is experienced in that role or we will see problems.”

No candidates have been confirmed as potential replacements, as of yet, but a few names have been floated so far. Two Florida movers rumored to be in the running include Florida State Rep. Bill Hager, a former Iowa Insurance Commissioner, former president and CEO of the National Council on Compensation Insurance (NCCI) and current vice chair of the state Insurance and Banking subcommittee; and Tom Grady, former interim president of Florida’s Citizens Property Insurance Corp.

Hager has been vocal for flood insurance reform in the state, an issue that has also been a major focus for McCarty over the last six months. Hager told Insurance Journal last fall that lawmakers were “turning up the heat” on the National Flood Insurance Program’s ratemaking practices.

Grady is currently awaiting confirmation by the State Senate to the Florida Board of Education after he was appointed by Florida Gov. Rick Scott in Oct. He was accused of allowing “excessive” travel expenses during his short-lived position with Citizens.

There is also the possibility that a candidate Scott considered last year, Louisiana Deputy Commissioner of Consumer Advocacy Ron Henderson, could be in the running again.

Please call L & S Insurance at 1-888-244-7400 for free quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well. Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2016/01/08/394524.htm

 

January 6, 2016

Florida Insurance Commissioner McCarty to Resign After 12 Years in Job?? Why and how will this affect Fort Lauderdale and all of Florida?

Posted by homeinsuranceguru under Auto Insurance, CFO, Flood Insurance, Florida, Governor Rick Scott, Home Owners Insurance, Insurance commissioner, Legislators, OIR, Tallahassee | Tags: , , , , , , , , , , , , |
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Florida Insurance Commissioner Kevin M. McCarty announced today that he is resigning effective May 2, 2016 after 12 years in the post to pursue other job opportunities, according to the Florida Office of Insurance Regulation (OIR).

McCarty has served as the only appointed insurance commissioner for the Florida Office of Insurance Regulation since the office was created in 2003.

McCarty’s tenure has been a tumultuous yet productive one. Originally appointed by former Gov. Jeb Bush, McCarty presided over the state’s sometimes volatile homeowners and auto insurance markets, a number of devastating hurricanes, and several financial and insurance-related crises.

Last year, he survived an ouster bid by current Florida Gov. Rick Scott.

Gov. Rick Scott’s Communications Direct, Jackie Schutz, issued the following statement to Insurance Journal on the news:

“We appreciate his service to the state and we wish him the best of luck in his next endeavor.”

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.insurancejournal.com/news/southeast/2016/01/05/393831.htm

 

December 22, 2015

Flood, Fraud and the Florida Market: McCarty Talks Hot Insurance Topics in 2015, how will this affect Fort Lauderdale and all of Florida!

Posted by homeinsuranceguru under Auto Insurance, CFO, Flood Insurance, Florida, Fort Lauderdale, Governor Rick Scott, Home Owners Insurance, Legislators, OIR | Tags: , , , , , , , , , , , |
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Please call L & S Insurance at 1-888-244-7400 for quotes on  Home, Auto, Flood, Business & Commercial & Life & financial products as well.

It was another busy year for the Florida Office of Insurance Regulation (OIR). From conducting the annual property/casualty data call and subsequent stress test of Florida property insurers, to working on the depopulation efforts of Citizens, to calling out the National Flood Insurance Program on Florida’s “unfair” flood insurance rates, Florida Insurance Commissioner Kevin McCarty has addressed some important insurance issues facing his state in 2015.

In the middle of it all, McCarty overcame rumors of being replaced, testified before U.S. lawmakers on behalf of the National Association of Insurance Commissioners (NAIC), was recognized with a lifetime achievement award by the Florida Association for Insurance Reform (FAIR) in September, as well as honored with the Latin American Association of Insurance Agencies “Insurance Man of the Year” award in December.

In a wide-ranging interview with Insurance Journal in November, McCarty talked about how he approaches his position after all these years and shared his views on the important issues facing Florida.

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2015/12/21/392698.htm

 

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