President


Please call  Lee from Calle Financial, 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 them.

Floridians are on alert as the state heads into peak hurricane season after three straight years of being impacted by major storms.

Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that devastated the region as a Category 5 last October. Residents in the area are crossing their fingers that they will be spared this year as they continue rebuilding from the largest hurricane to hit the area on record

“We are all hoping there won’t be another one this year,” said Karen Kirkland, owner of Kirkland Insurance Agency in Lynn Haven, Fla., a part of the Panhandle that was badly damaged by the massive storm that made landfall October 10 with 155-mph winds.

According to the Florida Office of Insurance Regulation, total estimated insured losses from Hurricane Michael had reached $6.6 billion as of June 28, 2019, with 84% of claims closed. The total number of claims between residential, commercial, flood and other lines was nearly 148,000 — 88,692 of which came from Bay County.

“No one is coming to tell me they had too much insurance for Hurricane Michael”
Please enjoy the full article below
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Please call  Lee from L & S Insurance, Inc. 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 them,

The U.S. Treasury today issued final regulations and other guidance on a provision of the Tax Cuts and Jobs Act that allows owners of sole proprietorships, partnerships, trusts, and S corporations to deduct up to 20 percent of their qualified business income on their taxes.

Today’s final rules cleared up lingering doubts about whether insurance agents qualify for the full 20 percent deduction for their 2018 taxes and for years going forward until 2025 under President Donald Trump’s tax law. They do qualify.

Please enjoy the full article below;

https://www.insurancejournal.com/news/national/2019/01/18/515313.htm

Please call Lee at Acentria Insurance at 954-351-1960 for free quotes on Home, Insurance, Flood, Private Flood, Car and Auto Insurance, Business & Commercial polices & Life & financial as well as group benefits. I will refer to our best agents around the state of Florida.

 

New NFIP Re-authorization Deadline Holds:   December 8, 2017

 

Despite the recent flood events, it seems that the NFIP re-authorization will likely not occur in time for the Dec. 8 deadline with another short term extension likely.  The good news is that the Disaster Relief proposed by the Administration has forgiven $16 B in NFIP debt and the focus would indicate that it is unlikely that a lapse of the NFIP will occur.

NFIP Debt Forgiveness & the Trump Administration

 

The NFIP’s debt will drop to approximately $14.5B and offer enough available borrowing authority to pay all outstanding claims due to yesterday’s passage of a Disaster Relief Spending bill proposed by the Trump Administration and sent to the President for signature.

 

The Administration’s disaster spending proposal, including 16 B in NFIP debt forgiveness, came with 15 proposed NFIP reforms which could complicate any future NFIP re-authorization discussions.

 

While Wright Flood continues to work to oppose eliminating access to the NFIP for any property unable to find coverage in the private market, we do support proposed reforms that strengthen the development of a private flood insurance market.

What Does it All Mean for NFIP Re-authorization

 

While Congress remains engaged with NFIP re-authorization and reform

issues, Wright Flood looks to take advantage of the additional time afforded by the short term re-authorization to continue the push for our combined priorities including:

  • Long term, prompt NFIP re-authorization;
  • Fair, business driven compensation for WYO insurers and our insurance producer partners;
  • An even playing field to allow private insurers the opportunity to further develop a private market for flood insurance;
  • The ongoing financial stability of a robust NFIP

Please keep in touch and be on call should we need your political action and support during this process.  In the coming weeks, Members of Congress will be visiting areas impacted by Harvey and Irma.  If you see or gain access to any Member of Congress, make certain they understand the importance of long term NFIP re-authorization for the communities you serve and for you as a business in those communities. 

 

The House and Senate in Washington D.C. are ready to put this old bill(Biggert – Waters) behind us. This was a bill that was hard fought and passed in 2012, when almost no bills were passed so this was purely political in nature for sure. In the meantime, the President will sign it and make Flood Insurance easier for a while, but in 3-4  years the problem will resurface for sure. In Tallahassee, our Legislators will also pass the Private Flood bill so Flood Insurance should not be as much of an issue like it would have been for many in Fort Lauderdale, Tarpon Springs and all over Florida. Please read the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Flood, Auto, Business & Commercial, and Life & Financial products as well.

http://www.insurancejournal.com/news/national/2014/03/16/323451.htm

 

Now the House and Senate have approved and President Obama will soon sign it into Law. This will basically put everything back the way it was before October 1st 2013. Fort Lauderdale, South Florida, Tarpon Springs Tampa, and all of Florida will be in a better situation for at least 3-4 more years until the 5 years is up from the Original Biggert-Waters bill. The following changes will occur;

Anyone who was charged more will be getting refunds.

Subsidized rates will again be allowed we hope.

The 25 Billion dollar deficit will remain unchecked till another solution is found.

Rate Hikes will be capped off at 15-18% per year.

And Grandfather clauses will be maintained till July of 2017 when a new bill must be reached and agreed upon.

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

http://www.insurancejournal.com/news/national/2014/03/13/323273.htm

Why does every bill put through need to have other things mixed into it. This is what froze Flood Insurance bills for many years and caused many unnecessary extensions. If you simply pass a bill as a bill, life could be simpler. This is pure help for the states affected and the people who lost everything during Hurricane Sandy.Our Legislators in Washington D.C.  finally did something together and worked out a deal so congratulations. I am not sure where the Insurance policies fit in here as many did not have Insurance by choice, so what should be done for them? In any case President Obama will sign the bill soon and money should finally be on it’s way after 3 months. Del;ays from trying to add tax cut issues and spending limits were originally added to this bill, but who knows why???  In any event, please call L & S INsurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business and Commercial, and Life Insurance quotes as well. Please enjoy the fullarticle below;

http://www.insurancejournal.com/news/national/2013/01/28/279159.htm

There is barely enough money for 1 storm in 1 Hurricane season and what if we have 2 storms????  If Florida, which will affect Fort Lauderdale and all of Soouth Florida worse, could see more major rate hikes soon as the Federal plan is just not likley. The Florida  Cat fund may need to lower it’s exposure by 5 billion or more per storm  and if that happens then all of the  carriers will be required to get more expensive reinsurance form the private carriers (Like Warren Buffet’s company, among other’s). These increases will hurt the Real estate recovery in Florida as rates have been on the rise since Governor Rick Scott has come to office and even before that as well. When our Legislators meet in session soon, this will be a big topic and no National resolution could possibly come that fast. For a National plan to work, we already know that the President (Obama) must endorse the program for any hope and that is not likely as about 20 states have no interest at all to help the other’s. Please read the article below and please call L & S Insurance at 1-888-244-7400 for all quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.insurancejournal.com/news/southeast/2013/01/18/277912.htm

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