Sun Sentinal


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For South Florida homeowners, 2017 already figured to be a year of steep property insurance rate increases.

For customers of two insurance companies, state regulators have made those increases even steeper than the companies sought.

Why? State regulators say high costs stemming from excessive claims in the tricounty region requires the companies to charge customers more money than they would prefer.

The state “has an obligation to approve rates that are [financially] sound — which may be more or less than what a company requests,” said Sha’Ron James, the state’s Insurance Consumer Advocate, who did not participate in the rate decisions.

Two companies — Deerfield Beach-based People’s Trust Insurance and Tampa-based Homeowners Choice Property & Casualty — this week received approval for larger rate increases than they requested.

People’s Trust, with 54,267 home- and condo-owner policies in the tricounty region and 129,365 statewide as of Dec. 31, sought a 14.5-percent statewide average rate hike and instead got a 16-percent hike.

Homeowners Choice, with 53,040 home- and condo-owner policies in the tricounty area and 130,041 statewide at the end of the year, sought a 3.3-percent statewide average increase and instead got an 8-percent hike.

Please read & enjoy the full article below;

http://www.sun-sentinel.com/business/fl-bz-insurance-rate-hikes-20170509-story.html

I spoke of this before and last year was such a waste of time and taxpayer dollars. Now Legislators In Tall. may decide to finally do away with PIP and no longer need to be a No Fault State to get everyone Insured!!! Rates for car Insurance in Fort Lauderdale and all of S. Florida are o the rise with Fraud claims leading the pack. Please enjoy the full article Below from the Fort Lauderdale Sun Sentinel and sent to us by our Friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Car, Flood, Business & Commercial, and Life Insurance & Financial products as well.

http://www.sun-sentinel.com/fl-no-fault-auto-insurance-20131020,0,7167579.story

I have heard Mr. Gilway speak this past week in Broward county and it is very clear that Citizens will find it’s way down to 500K policies in 3 years or less. The expectation is that 500K policies will be removed from Citizens Later this year and next year in 2014, the 450K new policies that will try to come in will be reduced to 50-75K while they still depopulate more and more. The Real question is how will Realtors and closings be affected by this. Once the new Citizens bill takes affect 01/14/2014 Binder’s will not be allowed from Citizens for any policy until the polcy has been shopped. This will not take long, but if a new policy is found at a higher price , the lender information changes and closing delays will be huge. Please read the full article below as it was sent to us by our friends at First Stae Insurance and how this will affect Fort Lauderdale and all of Florida. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance quotes as well.

http://www.sun-sentinel.com/news/palm-beach/fl-gilway-sachs-workshop-20130913,0,2850381.story

MIke Mayo of the Fort Laud. Sun Sentinal has hit it on the head. I do not agree with what and how he is saying it, but he is correct that no one is looking out for the consumer. The bill needs to be passed as Citizens and the Florida cat fund are 1 storm away from Bankruptcy and that is a problem, but pushing rates even higher will not only force more Homeowner issues , it will hurt the Real Estate Business in Florida which is 2nd only to Tourism. If we do not have healthy Tourism and Real Estate sales then Florida will suffer greatly. On the other hand if we do nothing then 1 hurricane hitting S. Florida will hurt the State Financially and cause a max exodus from here. Governor Scott wanted this bill and here it is, but now we have his unpopularity and a re-election soon. Could he sign and still win or will he have to veto to save his career  as a Governor for another term. All this and still more to come. Please read the full story by Mike mayo of the Fort lauderdale Sun Sentinal and sent to us by our friends at First State Insurance. Please call L & S at 1-888-244-7400  for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well.

 

http://www.sun-sentinel.com/news/fl-citizens-mayocol-b041413-20130413,0,5685424.column

Another Lawyer wants to make a name for himself with another Citizens Class Action lawsuit. This time it is about the Mitigation Inspections!! Since the new Inspection form was written by the OIR(Office of Insurance Regulation) with new requirements, Citizens was simply doing what they were allowed to do as do all other carriers.The rates in Fort Lauderdale and all of South Florida are higher because of it. Why does this attorney sue Citizens and not the OIR??? Now I remember, you cannot sue the OIR, so he needs another scapegoat. Perhaps this will get them to change the form again allowing some discounts to come back, but that is not likely. Please see the taxpayer’s waste of money and read the full article below.The article was written in the Fort lauderdale Sun sentinal and snt to us by our friends at First State Insurance. If you need help with your Insurance policies, please call us at 1-888-244-7400 and ask for a quote for Home, Auto, Flood, Business & Commercial and Life Insurance products as well.

http://www.sun-sentinel.com/fl-citizens-class-action-20130228,0,6539777.story

Check out Ana, just one of many who turn Florida into Fraudula.  You never know who you are dealing with and Ana has been doing this for a long time. All for money, she put her own 5 kids into harms way and asked them to even lie for her to the court so she would not go to prison. Apparantly a Judge and her children  saw differantly, thank god, and did the correct thing by locking her up and putting her kids in a safer environment. Too  bad it was only 6 1/2 years as she deserves more. This type of crime is why we pay so much for Car Insurance and why our sytem of No fault is crazy and needs to be changed. This also  shows that the bill signed into law in 2012 did nothing and it will still continue to get worse. Please enjoy the full article about Ana and her story  from the Fort Lauderdale Sun Sentinal and sent to us from our friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance quotes as well.

http://www.sun-sentinel.com/about/tribune-search/fl-staged-accidents-with-kids-20130110,0,5425652.story

I still think Citizens does not know what they want to do. Mr. Gilway says that depopulation must occur, but we cannot offend anyone in doing so and hurt the consumer. I agree, but something must be done. A new Keep out plan is in place with hundreds of thousands  more depopulations scheduled already. Keep out means that when you sign up with Citizens an admitted carrier might become available to you and you will be told to not be in Citizens and go to that carrier. This has been tried in the past and failed beacise of many issues, but perhaps this time they may get it right. This article has alot of good info that I have been discussing for many months now, but it is  good reading. Please enjoy the article from the Fort Lauderdale Sun Sentinal and sent to us by our friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Inurance as well.

 

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