Please call  Lee from Calles Financial at 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

We still await more carriers to either be in financial difficulty ir be acquired by another carrier, This is the 2nd carrier to be acquired so 10 or so still to go by the end of January,

Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies.

Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary Homeowners Choice Property & Casualty Insurance Co. to acquire all the insurance policies of Anchor Property & Casualty Co., according to a statement from HCI.

Also, Weston Insurance of Coral Gables, Fla., which writes coastal property risks, will acquire another Anchor subsidiary, Anchor Specialty Insurance Co.

The acquisition of Anchor P&C’s policies was announced by HCI as ratings agency Demotech stated that the insurer would be downgraded from a Financial Stability Rating (FSR) of A, Exceptional, to M, Moderate. The ratings agency warned last week that it is reviewing the ratings of a number of Florida insurers and downgrades are possible. It did not name the insurers.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/01/15/554875.htm

Please call  Lee from Calles Financial at 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

This is so Important to read as so many will be affected and the news will break un just 3 weeks .

The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the state’s property insurance market, and more than a dozen more could be downgraded in the next few months.

In a letter dated Dec. 20, 2019 that was forwarded to Insurance Journal, Demotech President Joe Petrelli warned Barry Gilway, head of state-backed Citizens Property Insurance Corp., that Gilway’s hoped-for shrinking of Citizens’ policy count might be “more difficult than expected as Demotech would be downgrading several carriers in January, February and March 2020.”

Please enjoy the full article below and read it all!

https://www.insurancejournal.com/news/southeast/2020/01/09/554155.htm

Please call  Lee from Calles Financial at 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

As a board member of the MAAC committee in Florida for Citizens Insurance, I can conform this for sure. On top of all of the other carriers also trying to reduce exposure and cut the middle markets, where will people go to get Insurance coverage especially here in S. Florida. I work with Chaisteli Insurance for Property Coverage and together we  can offer help and be sure you understand all options.

 

Florida’s insurer of last resort Citizens Property Insurance Corporation will make shrinking its policyholder count a priority next year, despite potential headwinds that may come from Florida domestic carriers raising rates and restricting coverage.

Prompted by a request from Florida State Senator Jeff Brandes, the company announced at its December Board of Governors meeting that it will again seek input from independent evaluators to determine if there are exposure reduction or depopulation opportunities that can be identified for Citizens to further reduce its overall exposure and financial impact on the state.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/12/20/552579.htm

 

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.

Lot’s of bills to not only see what passed, but what did not pass, what is pending, what is close & why we have to wait. Please read the full article below & be informed.

https://www.insurancejournal.com/news/southeast/2019/06/27/530569.htm

 

 

Many companies Like Universal P & C  want to know if you have had financial concearns because bad credit tends to lead to more claims and usually of the fraudulent type. Many carriers decline claims, refund premiums ect because of this and the now the Florida consumer advocate says this should not be. Please read the article by Charles Ellsmore of the Palm Beach post  and sent to us by pur 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.palmbeachpost.com/news/business/consumer-advocate-calls-for-probe-of-insurers-who-/nSr3w/

(R) State Rep.  Frank Artilles is now going very public to get his name in the paper! The Florida legislature has had plenty of time to come up with many ideas, but they have had none!! Now that a plan is ready by the citizens Board of Governors,Representative  Artilles wants the Legislators in Tallahassee  to look it over and put the approval on it. I am not sure I agree with this plan or not, but I do  know that 500K policies no longer In Citizens is good for Florida and Fort Lauderdale  no matter how it happen’s. The Environmment is certainly better in Florida for availablility of product, but the price is still way too high. The people of Florida cannot keep paying these rates which can be 10 times what they were 20 years ago and that is bad Inflation!!!  Please  read the article by the Representative Artilles and tell him what you think. Please call L & S INsurance at 1-888-244-7400 for al of your quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2012/10/15/266521.htm

Not likely think most people. The Ink is not even dry on the bill which starts in July, but scammers are already looking at ways around the bill which was rushed by Legislators in Tall. to avoid a special session  and a long battle. Obviously, the people in Tallahassee did not really think this would work, but they needed to pass some kind of bill so massage therapy and other items will have limits, but no reduction in rates are likely for quite some time and they could still rise since the solution is still not there. If they will not  try to prevent Fraud then Fraud will still occur. This info all comes from the Consumer Advocates and is also not firm, but expectations are not good. This article was sent to us by our friends at First State Insurance and the Sun Sentinal  and please call L & S Insurance(1-888-244-7400) for all of your Insurance needs like, Home, Auto, Business & Commercial, Flood and even Life Insurance. PLease enjoy the full article below.

http://www.sun-sentinel.com/business/fl-pip-fraudsters-already-searching-ways-around-ch-20120416,0,5326514.story