Uncategorized


Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 954-270-7966. My email is lee@myUSAssurance.com . I am Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business  & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer. My email is lee@myUSAssurance.com

The National Weather Service in Miami is issuing a coastal flood statement as the new moon’s proximity to Earth brings on another round of king tides.

The Palm Beach Post reports that because the new moon is Sunday, the brackish Intracoastal water that bubbles up through storm grates and over aging sea walls in the South Florida area could linger through Tuesday.

High tide times on Sunday were expected around 8 a.m. and 8:20 p.m.

Monday high tides are at about 9 a.m. and 9:10 p.m.

This may be the last round of king tide flooding this year with December’s new moon forecast to have less influence.

The high tide flooding for South Florida typically begins in September. It’s a combination of multiple factors, including a slower Gulf Stream current, warmer waters, lunar alignment and sea-level rise. The flooding begins to wane in December.

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 954-270-7966. My email is lee@myUSAssurance.com . I am Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business  & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer. My email is lee@myUSAssurance.com

About one in 20 insured homes has a claim each year, with the average claim totaling $13,814 between 2014 and 2018, according to the Insurance Information Institute (Triple-I).

Filing a claim for the loss or damage of property is one of the worst experiences for a homeowner. And if errors occur during the claims process, a homeowner could face serious financial consequences.

Some common snafus homeowners make that can impact a claim include not securing coverage in time, choosing a deductible they cannot afford, and not having the right coverages in place.

“One big issue is underinsurance,” Jessica Hanna, spokesperson for the American Property Casualty Insurance Association, told MarketWatch in a September article. “That only seems to come to light after a major storm.”

However, there are other errors insureds should be aware of before filing a claim. Click through the above slideshow to reveal ten common mistakes clients should avoid with home insurance claims, according to Forbes.

Additionally, agents and brokers should educate clients and prospects about the benefits of working with an insurance advisor to secure proper coverage and navigate the claims journey to ensure the best possible outcome for insureds.

Please enjoy the full article below;

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 954-270-7966. My email is lee@myUSAssurance.com . I am Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business  & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer. My email is lee@myUSAssurance.com

Over the last 40 years, the NOAA calculates that climate and weather disasters have cost the US $1.75 trillion in damage – and those costs, when insured, obviously trickle down to policyholders.

When a hurricane like Dorian, that battered North Carolina last year runs up costs, so premiums have to rise – which is why insurance companies in the state are requesting approval for a hike of up to 25% from August 2021.

Mike Causey, North Carolina’s Insurance Commissioner told reporters that the NCRB (North Carolina Rate Bureau) had made the request – which averaged out at 24.5% across the state.

The Department of Insurance can now accept the proposal, or more likely, try to haggle that number down. If both parties can’t come to an agreement within 50 days, then Causey will ask for a hearing.

Despite their heavy payouts following last year’s hurricane, there is no guarantee that carriers will get what they ask for – back in 2018 the NCRB asked for just over 17% – settling for a far less impressive 4%.

2020 has already seen North Carolinians hit by natural disaster – tropical storm Zeta swept through the state last month, cutting power to 400,000 and causing landslides and other property damage.

Nationwide insured losses from this one storm alone are expected to exceed $4 billion, according to estimates from AIR worldwide and Karen Clark & Co.

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 954-270-7966. My email is lee@myUSAssurance.com . I am Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance, Mortgage protection, Financial Products, Business  & Commercial Policies, & Group Products for business owners to give Employees benefits at no cost to the employer. My email is lee@myUSAssurance.com

The shamers are dishonored annually by the Coalition Against Insurance Fraud. This year, houses are burned. Military valor is stolen. Fake slip-and-falls take a $31-million tumble. A mother is shot. The Commanders in Thief help put insurance fraud on full national display and with a purpose.

The shamers play a useful deterrent role. Promoting extreme schemes can help harden public opinion against this $80 billion a year crime.

Most people also remember vivid stories better than dry data, providing consumers with better recall of insurance criminals such as the shamers. We learn in vibrant detail the damage these Tyrannosaurus Wrecks can inflict on honest Americans. More people then share the shrieks on social media — better-promoting honesty and avoidance.

The shamers also remind America that fraud fighters are committed counterweights to insurance crime — investigating in the field and convicting in court. So enjoy the shamers, up to a point.

Please enjoy the full article below;

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 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. My email is lee@myusassurance.com

Please picture the state of Florida in your mind! You live on a Peninsula surrounded by Water. We have Lakes, canals, Intracoastal, man made lakes & the everglades! If you live in Florida, you are low to sea level & you are in a Flood Zone for sure!!! In Florida, we have 2 zones for the most part, Zone X & A. Zone X is the zone many call not a flood zone, but it is, just low risk for now, but we have all seen the floods in S. Florida this year 2020 to know this already. Zone A is where it will be required if you have a mortgage, & that is any zone starting with A.

The Flood Maps will be changing again soon & many zone X people will find themselves being changed to zone A & will be required to have it in 2-3 years. We can help you save money in this change down the road, by using the Grandfather clause for you. My real question is why would anyone not want a flood Insurance policy if you live in Florida? If you do not have to have one & choose not to take one, then you have no business complaining about floods that occur to you. If you are relying on FEMA to help, they will, but you will never own your home, so why let this happen for $50-60 each month!> I can’t figure this out & may never, but we will give you every option needed to make your best decision.

Please call  Lee from  USAsurance Powered by WeInsure & Calle Financial. 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. My email is lee@myusassurance.com

Tropical Storm Eta formed overnight [on Sunday, Nov. 1] in the Caribbean, becoming the Atlantic’s 28th storm of 2020 and tying a 2005 record for the most named systems in a single year in records going back to 1851.

Forming southeast of Jamaica, Eta will probably become a hurricane with winds reaching 90 miles (145 kilometers) per hour before coming ashore in Nicaragua or Honduras sometime Tuesday or Wednesday, the National Hurricane Center said. Eta could bring as much as 20 inches of rain across Honduras and Nicaragua with some areas getting up to 30 inches.

Please enjoy the full article below;

https://www.insurancejournal.com/news/international/2020/11/02/589157.htm?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 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. My email is lee@myusassurance.com

Term life insurance is a great bet for people who want the most affordable life insurance in order to cover specific family needs, such as the working years of parents.

You may think that comparing prices is the only way to find the best term life insurance companies. But prices only tell part of the story. Inside the policy (sometimes) are important benefits that can become critical many years after you buy the coverage. Your health and insurance needs can change over time, and the best term life insurance can accommodate changes.

To find the best term life insurance companies, we used data provided by Life Quotes to evaluate companies on rates and coverage features

CompanyPrice competitivenessPolicy benefitsForbes Advisor rating
TransamericaVery goodExcellent
AIGExcellentGood
Pacific LifeExcellentGood
John HancockVery goodGood
Lincoln NationalVery goodGood
ProtectiveVery goodGood
SBLIVery goodGood
Securian FinancialGoodVery good
North AmericanFairVery good
Penn MutualGoodGood
PrudentialFairVery good
Legal & General AmericaVery goodFair
American NationalFairVery good
Mutual of OmahaFairGood

Please enjoy the full article below;

https://www.forbes.com/advisor/life-insurance/best-term-life-insurance-companies/

Please call  Lee from  USAsurance  & Calle Financial. 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. My email is lee@myusassurance.com

The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry.

The regulator said the insurance market has been buffeted by multiple hurricanes in the last several storm seasons, as well as by other market challenges like assignment of benefits (AOB) abuse, that “have led to high loss reserve development, increased litigation, and increased cost of catastrophe reinsurance.”

As a result, Florida carriers are recording unprecedented losses and responding with drastic rate increases and a major pullback in capacity.

“Unfortunately, these developments have presented challenges not only to our property industry, but also to our consumers,” OIR stated.

This is the second article in a two-part series examining the Florida insurance market: Read Part One: Florida Property Insurance Market Inches Closer to Crisis – Part 1

While it is too early to know the full impact of the new AOB law, OIR said it has issued a data call to begin tracking its effect. Starting in 2022, OIR will institute a statutorily mandated annual data call to understand the full impact of legislation on the market.

Additionally, OIR is currently performing an analysis of insurer holding company affiliates. In July, it sent a letter to 60 companies it regulates requesting information of the companies that is “intended to best inform the Office how the underwriting results of your company may be improved,” the letter stated.

When asked why OIR requested this info at this time, the regulator told Insurance Journal the analysis is a targeted examination of insurers to evaluate their MGAs and other affiliates within the holding company system as a “supplement to OIR’s ongoing activities throughout the year.”

…..


Legislative Fix

The industry says the only way to stem the tide of rising litigation and rates is to enact legislation that addresses the market’s cost drivers. Some ideas that have been floated include shortening the timeframe for filing initial hurricane loss claims from three years to two – as is the case with sinkhole damage – and eliminating the contingency fee multiplier on property lawsuits.

“We think it’s entirely inappropriate to provide a [fee] multiplier to an attorney who represents a homeowner on a typical property claim,” said Michael Carlson, president of the Personal Insurance Federation of Florida.

Carlson said stakeholders are looking at something similar to a law passed in Texas in 2017 to address hailstorm lawsuit abuse. That law limits liability for insurance companies following storm damage by requiring notice before a suit can be filed to allow the insurer to address any outstanding claim issues. Attorney fees may not be awarded if the court finds the insurer was entitled to but not provided with pre-suit notice. It also cuts penalties for insurers sued for offering too little money on storm claims, including wind and hail damage, while making it harder for those suing to collect attorneys’ fees.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/10/30/588587.htm

Please call  Lee from  USAsurance  & Calle Financial. 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. My email is lee@myusassurance.com

After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from non-catastrophe water losses and rising reinsurance rates that have severely strained the financials of Florida insurers.

The situation has gone from bad to worse for Florida domestic insurance carriers this year, which together cover most of the state’s homeowners market.

Nearly 60 carriers suffered a combined $701 million in losses and $351 million in negative income for all of 2019, according to Guy Carpenter. In just the first half of 2020, the companies lost more than a half billion ($501 million) in underwriting losses and $227 million of negative net income. Third quarter results are expected to show further deterioration. Guy Carpenter’s data cited an average net combined ratio for 2019 of 111 percent that climbed to 129 percent in the second quarter of 2020 for these companies.

“If we’re not in a crisis, I don’t know what we’re in,” said Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents. “Those numbers … just simply are not sustainable.”

As a result, carriers have been steadily raising rates this year and this trend isn’t expected to slow down any time soon. Companies are requesting and the Florida regulator is approving substantial rate increases – some over 30% – along with taking steps to limit their exposures and protect their books of business.

The vast majority of Florida insurers have filed multiple rate increases this year for just under the 15% threshold that requires a rate hearing by the Florida Office of Insurance Regulation. Since August, four companies – Capitol Preferred Insurance Co., Southern Fidelity Insurance Co., First Community Insurance Co. and Centauri Specialty Insurance Co. – have participated in rate hearings for rate increase requests ranging from 25% to just below 40%.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/10/29/588564.htm

Please call  Lee from  USAsurance  & Calle Financial. 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. My email is lee@myusassurance.com

We represent over 125 carriers in Florida including Tower Hill & Safeco. This may work for many of you so please let is try. Our office number is 954-606-5660

Florida-based Tower Hill Insurance and national carrier Safeco, two non-affiliated carriers, have formed a marketing partnership in the state of Florida to offer a multi-policy discount to customers. Beginning in November, policyholders will have access to a multi-policy discount when they add a Tower Hill home to an account with a Safeco auto policy – or add a Safeco auto policy to an account with a Tower Hill home policy.

The company said with market disruption commonplace in Florida, “this is an opportunity for both companies to reach more customers through their multi-policy marketing partnership.”

The multi-policy discounts are applied to both the auto and home insurance policies. Tower Hill’s President, Don Matz, and Debra Pooley, Southeast Region Field Executive at Safeco, jointly announced the new partnership to agents recently, saying the marketing partnership is a natural way for each company “to better serve our independent agents and policyholders.”

Tower Hill currently insurers more than 2 million customers.

Both teams worked over the last year to bring the partnership to light, according to the companies.

Safeco Insurance currently offers several programs in Florida – including the RightTrack Mobile program, which provides discounts for safe drivers. After a 90-day driving period, eligible customers receive a premium discount, up to 30%, for the life of the policy.

The new multi-policy discount is applied in addition to the home and auto discounts that Tower Hill and Safeco customers already receive.

Next Page »