Rick Scott GOP


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In his June 2 veto letter addressed to Secretary of State Kenneth W. Detzner, Scott expressed his objections to the legislation, saying the bill “undermines progress in growing the number of property insurance options and reducing assessment risks for Florida Families.”

According to the Florida House of Representatives Final Bill Analysis, as of July 1, 2015, a policyholder may elect not to be solicited for takeout more than once in a six-month period.

Scott wrote that this provision was of primary concern to him.

“This provision is inherently unfair to Citizens’ policyholders in that it limits policyholders’ private market options, which means they miss an opportunity to move to a better property insurance alternative,” he wrote.

The Citizens depopulation effort has proven to be successful, yet controversial, in lowering Citizens’ policy count and ensuring the insurer’s ability to pay claims for policyholders that cannot find insurance in the private market. Just this past March, the company announced that it is the smallest it has been since its creation in 2002, with a policy count of less than 600,000 as of March 13. That number represents a huge drop from its highest policyholder count of 1.5 million, or about 26 percent of the Florida residential market, in November 2012.

The insurer’s approved take-outs as of May 15 of this year totaled 632,286 and the total number of policies removed was 110,529.

”The reality is that significant improvements in profitability and the increasing financial strength of companies has been a major factor in our ability to return to our role as the state’s insurer of last resort,” Citizens President and CEO Barry Gilway told the Citizens Board of Governors back in March.

 

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2015/06/04/370549.htm

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Living in a (semi)-tropical paradise has a price – and apparently, not even going nine years without a major hurricane strike will change that.

While Florida’s property insurance market has stabilized somewhat since eight storms battered the state in 2004 and 2005, as storms such as Hurricane Wilma caused billions in damages, the state still has some of the nation’s highest homeowners insurance rates. A recent national report showed that Florida’s average homeowner premium of more than $2,000 a year is twice the national average.

But state officials say good news is on the horizon.

And Insurance Commissioner Kevin McCarty insists that lower rates are coming because one of the main expenses for insurers – reinsurance – has been dropping. Reinsurance is the millions an insurer spends with an out-of-state or foreign company to provide the company financial backing in case of major claims.

http://www.insurancejournal.com/news/southeast/2015/06/01/370007.htm

 

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Florida Governor Rick Scott is looking for a replacement for the state’s top insurance regulator and has already contacted a potential candidate from Louisiana.

Scott’s office has confirmed that the governor contacted Ron Henderson, Louisiana deputy insurance commissioner for consumer advocacy, as a possible replacement for Florida’s current insurance commissioner, Kevin McCarty, who has headed the Office of Insurance Regulation (OIR) since 2003.

McCarty has reportedly been targeted for replacement as part a shake-up of top officials by Scott as he embarks on his second term.

In a letter to Chief Financial Officer Jeff Atwater, Scott called for new heads of the OIR, the Office of Financial Regulation and the Department of Revenue.

Please enjoy the full article below!

http://www.insurancejournal.com/news/southeast/2015/01/27/355570.htm

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A national consumer group is urging Florida to keep its current insurance regulator, a man the group says is one of the best regulators in the country but who is rumored to be under pressure to resign by the Scott Administration.

The Consumer Federation of America (CFA) has reached out to the Florida Financial Services Commission in support of Florida Insurance Commissioner Kevin McCarty, following recent reports that second-term Governor Rick Scott is opposing McCarty’s reappointment.

Hunter hopes that they will act to keep McCarty, he wrote in an email to Insurance Journal. “McCarty is very strong given his great track record,” wrote Hunter.

Hunter said it is not typical for a member of the CFA to reach out in support of an official because usually a state governor would make the final decision and no vote is needed

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http://www.insurancejournal.com/news/southeast/2015/01/23/355006.htm

Florida’s insurance regulator’s tenure could be coming to an end after more than a decade as the newly re-elected governor looks to shake up his administration by replacing the heads of state agencies.

Rumors have been circulating that Insurance Commissioner Kevin McCarty may not survive the transition into Governor Rick Scott’s second term. And Scott’s office isn’t exactly stopping them.

The News Service of Florida reported that in a letter to CFO Atwater on Tuesday, Scott wrote that he hoped the Cabinet could “begin a search for new leadership” at the Office of Insurance Regulation, the Office of Financial Regulation and the Department of Revenue.

Scott’s spokesperson Jackie Schutz said it is important for a governor to have new leaders and new ideas heading into a second term. While not addressing McCarty specifically, Schutz laid out the rationale for finding a replacement for McCarty.

“Executive office positions are not lifetime appointments and for the same reason there are term limits in elected office, it is important to search for the best newest ideas whenever possible,” said Schutz.

“In regard to the Office of Insurance Regulation, we have no announcements at this time,” said Schutz, in what some see as a signal that a change is coming.

Industry representatives are reticent to discuss McCarty, perhaps not wanting to risk antagonizing either McCarty or the next commissioner.

When asked, industry representatives said it is not a matter of one choice or one decision that McCarty has made that got him to this point. Most just say McCarty’s fate is the product of years of unpopular decisions.

Several industry representatives said, “It’s time.”

McCarty is not the only state official whose job is up for grabs.

 

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http://www.insurancejournal.com/news/southeast/2015/01/20/354497.htm

The race between Scott and Crist has been closely watched by the insurance industry, which has worked under the radar to try and influence the race in Scott’s favor.

With polls showing Scott and Crist virtually even, industry representatives know that the slightest incident could swing the race one way or another. That is why representatives looked on with a mixture of horror and disbelief at the beginning of the debate and the so-called “fangate” affair, which some fear could define the race.

Fla. Gov. Rick Scott

In what has become fodder for late night comedians and TV political pundits, Scott initially refused to participate in the debate because Crist had a small electric fan underneath his podium.

FAIA, through its Trusted Choice program, was a co-sponsor of the debate.

“Most people thought it was a joke and it was like they were waiting for the punch line,” said Grady. “But then there was no punch line.”

Professional Insurance Agents of Florida CEO Corey Mathews said that unfortunately the fan incident was a “big deal,” which on the surface exposed the different temperaments of both candidates.

“You have two very different candidates with two very different perspectives,” said Mathews. “Crist is a natural campaigner and a populist, while Scott is more focused on jobs and making a difference.”

Many in the insurance industry feel they have a lot at stake in this election and fear a victory for Crist with whom they have had their differences in the past.

Now the fear is that the election could some down to a bizarre fight over a fan.

“It was really hard to watch,” said another industry onlooker. “Clearly it rattled Scott and it seemed he could never clean it up.”

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Please enjoy the full article for a good laugh at Florida Politics!!!

Democrat Charlie Crist said he successfully reduced rising property insurance rates as governor and will do so again if elected, vowing to repeal a law enacted under Republican Gov. Rick Scott that he said provides weaker coverage at a higher price.

It’s a familiar theme for Crist, who campaigned in 2006 on a pledge to lower insurance rates that were skyrocketing after eight hurricanes battered Florida in two years. One of his first acts as governor was to call a special session to deal with rising rates. Lawmakers expanded the amount of state-sponsored reinsurance, which brought down costs for private carriers, and froze rates by the state-created Citizen’s Property Insurance Corp., which took on more policies as national companies backed away from Florida.

Minutes after Crist’s announcement, the Office of Insurance Regulation announced that it approved the removal of 428,000 policies from Citizens to private companies. In all, nearly 900,000 policies have been approved for removal as the state tries to reduce the number of Citizens policies. Customers can choose to remain with Citizens.

Scott signed a bill his first year in office designed to attract more insurance companies to Florida. Consumer advocates and legislative critics said it would raise rates by up to 15 percent while taking away benefits from customers. Crist vetoed a similar bill the year before.

Scott’s campaign criticized Crist’s insurance policies for putting more of a burden on state government.

“Florida taxpayers were left on the hook for billions and homeowners were left with fewer options to protect their property,” said Scott spokesman Matt Moon in an email to reporters. “Under Governor Scott, Florida has done the exact opposite, reforming and shrinking Citizens Insurance while giving consumers more choice and competition to protect their home.”

I am not a fan of either of them, but under Governor Scott, the Insurance Industry is definitely way more stabile than it has ever been and we have more carriers writing business than ever before! Please call L & S INsurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well. Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2014/09/08/339865.htm

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