Please call Lee from Acentria Insurance at 954-351-1960 or my cell at 954-270-7966 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial & Life, group & Financial products as well.

Catastrophe bond managers are launching new funds and hedge funds have bought reinsurance stocks to benefit from expected double-digit price rises, following hurricanes in the United States and Caribbean, wildfires in California and earthquakes in Mexico last year.

Global prices rose by up to 7.5 percent, Willis Re said in a report, while JLT Re said its property-catastrophe reinsurance index gained 4.8 percent. [Editor’s note: see below for links to the reports].

“The concerted effort by many reinsurers to seek meaningful … rate increases across the board has been unsuccessful,” said James Kent, global CEO of Willis Re, pointing to “continued supply of capital” in the sector.

The reinsurance sector has turned the corner after five years of falling prices, however, after a record year of $140 billion in insurance losses, JLT Re said.

Property reinsurance prices rose 20-40 percent in catastrophe-hit areas in the Caribbean and 5-10 percent in loss areas in the United States and Latin America, Willis Re, a unit of Willis Towers Watson, said.

Please enjoy the full article below and watch out Fort Lauderdale & all of S. Florida for some huge rate hikes in Home Insurance.



Please call Lee from Acentria Insurance at 954-351-1960 for free quotes on Home Insurance, Auto, Flood, Private Flood, Car, Business & Commercial & Life & Financial products as well.

The House of Representatives on Tuesday voted 237-189 to pass the 21st Century Flood Reform Act (H.R. 2874) – a package of seven bills that reauthorizes the National Flood Insurance Program (NFIP) until 2022 and introduces various reforms.

The fate of the NFIP now rests with the Senate, which may adopt the House bill or a version of it, advance its own bill, or do nothing

There are a lot of good reforms in this bill for both taxpayers and ratepayers,” said House Financial Services Committee Chairman Jeb Hensarling (R-Tex.). “It is an absolutely revolutionary reform that we can break open the government monopoly and bring in market competition, innovation, more affordable rates for so many.”

Democrats said the measure would raise costs on low and middle income homeowners through higher premiums and surcharges and mean fewer people would buy flood insurance. They also warned it could trigger foreclosures in some high-risk, low-income areas.

Some of the reforms in the House bill seek to encourage more private flood insurers to enter the market; reduce costs from repetitive loss properties, improve flood mapping; cap annual premium increases and surcharges; continue the current practice of grandfathering certain properties from risk-based rates; and require the Federal Emergency Management Agency (FEMA), which administers the flood program, to share historic flood loss data with private insurers. Another provision would permit WYO insurance companies to also sell their own private policies, a practice now prohibited.

Other provisions would reduce the reimbursements to the private insurers involved in the WYO program; limit the premium on any residential property to $10,000 a year regardless of the property value; allow businesses to opt out of the flood insurance requirement after one year; and permit localities to create their own flood maps,

Hensarling stressed the need to mitigate the costs of repetitive loss properties. “We have to realize if we’re going to make this program sustainable we cannot have one percent of the properties causing 25 percent of the losses. Ultimately, if all we do is rebuild the same properties in the same fashion in the same location, that is neither wise nor compassionate,” said the congressman, who has announce he will not run for re-election.

The final House measure does not go quite as far in some ways as the original seven measures passed by Hensarling’s committee. To assure passage, Hensarling withdrew or amended several provisions including one that would have blocked NFIP from selling policies to homes valued at $1 million or more.

Please enjoy the full article below;


 Please call L & S Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Car Insurance, Business & Commercial & Life & Financial products as well.



Community: PALM BEACH COUNTY* Project Name: Palm Beach County FL MapMod08

Projected Preliminary Date: 05/31/2013
Actual Preliminary Date: 05/31/2013
Appeal Period Start Date:
Appeal Period End Date:
Projected Effective Date: 03/21/2017
Actual Effective Date:
Actual LFD Date:
Project Status: Active


Preliminary Date – The date when new preliminary DFIRMs were presented to community officials.
Appeal Start – Start date for the official 90-Day Appeal Period.
Appeal End – End date for the official 90-Day Appeal Period.
LFD Date – The date where community officials are notified that a new or updated DFIRM will take effect in six months.
Effective Date – The date when a new Digital Flood Insurance Map (DFIRM) become effective.
DFIRM – Digital Flood Insurance Rate Map
LFD – Letter of Final Determination
Project Status Active – Mapping project in status
On-Hold – Mapping project experiencing delays
Completed – Mapping project finished; updated map in effect
Note – Projected Dates are only estimates as final dates have not been determined.
If your property is newly mapped into a high-risk flood zone, you might be eligible for a cost-saving rating option called the Newly Mapped procedure.


Call your community’s Floodplain Manager for more information on maps changing in your area. You can also reach the FEMA Map Information eXchange at 1-877-FEMA MAP (1-877-336-2627).


lee flyer 33


Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial Insurance as well.







A Florida property insurer that provides insurance coverage to 128,000 homeowners is planning to go public by issuing an initial public offering (IPO) that could result in the insurer raising up to $100 million in new capital.

The insurer, however, has yet to announce how many shares of stock it will sell and at what price. The IPO filing also does not include whether the stock will be traded on NASDAQ or NYSE stock exchanges.

“We may use this offering to pursue expansions of the insurance products that we offer in existing and new markets.”

Those additional products could include commercial residential and manufactured housing, along with other non-residential coverage such as general liability.

Heritage also stated it will use some of the funds to beef-up its reinsurance program, which largely depends on the Florida Hurricane Catastrophe Fund.

While its overall reinsurance program is not in place for the 2014 hurricane season, last year it had treaties with 13 private reinsurers. It also has coverage through its reinsurance subsidiary, Osprey Re. Ltd.

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


60K policies to be removed quickly and the good news for consumer’s is that Heritage Insurance  will agree to the Citizens Glide path for rate hikes cappped at 10% for the next 3 years.  This is the good news for all of us as now we know what will happen and what to expect and tell our clients to expect. This is a sweet deal for Heritage as they will be paid by Citizens for every policy removed because they will take over all claims from 1/1/2013. Since they are selecting the policies they are taking, none with claims are likely so the money will go to surplus. Since that in tune with the Re-insurance program in place they will be welll capitalized for claims which is what will really matter when a Hurricane hits Fort Lauderdale and anywhere in South Florida. Since most of the policies will come from South Florida, when a Hurricane really hits they will need the money for sure. This is still good news overall for the Florida consumer’s and the agents as well. Please read the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.



1 for the good guys!!!!!!!!!!’

Lee from L & S Insurance

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