Please call  Lee from Calles Financial and Chaisteli Insurance  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.

34 Florida carriers have 100% or more claims to revenue last year in 2019. Some are as high as 120% of revenue. AOB has caused this problem with no end in sight for rate hikes. Carriers will start to non renew their books of business, older homes, homes with water damage claims. This will hit the housing market & 1st time Homebuyers chances to buy homes will be even more less likely. There was supposed to be a special session about just Insurance in Tallassee in mId March, but now w/ the COVID-19 break out, that session may never happen this year. Everyone needs to understand their Home Insurance policies, coverages or lack their of.

If you want this full e-mail, please contact me at

Here is the beginning of 12 pages of information and charts & graphs,


Demotech set to reveal downgrades as
full-year results show Florida pain
Demotech has affirmed the majority of the 46 Florida homeowners specialists it rates with the
remaining carriers awaiting their fate as the agency completes its review of 2019 financials
that reveal widespread operating losses and actions to shore up balance sheets, The Insurer
can Demotech is the only firm that rates most of the Florida specialists and its financial strength
ratings are critical to them because lenders typically require insurance policies bought by
homeowners in the state to be from A rated carriers.
As previously reported, in January this year the ratings agency warned of a potential slew of
downgrades in response to a range of macroeconomic and unique state specific issues faced
by Florida-focused carriers.
And analysis by this publication reveals 36 out of 46 companies we compiled data on from
2019 statutory annual statements fell to an operating loss in 2019. A total of 34 of the carriers
reported combined ratios of over 100, with 14 at over 120 percent.reveal.




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.

Not just Insurance carriers, but Reinsurance rates as well unless Tallahassee comes up with the Cat Fund solution I posted before the end of the regular session. There may also be a special Insurance session after!

It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims.

What may be surprising for insureds, however, is how substantial the increases to their premiums may be, particularly if current filings being evaluated by the Florida Office of Insurance Regulation are approved without modification

In rate hearings before OIR over the last two months, several Florida carriers explained their filings for rate increases ranging from more than 20% to nearly 40%. Since December, Edison Insurance Co., Capitol Preferred Insurance Co., and Velocity Risk Underwriters (on behalf of National Specialty Insurance Co.), have told regulators that these rate increases are needed for their companies to remain healthy.

“Unfortunately, times come that you have to do certain things to increase your rates and make sure your company stays viable and functional and healthy,” said Capitol Preferred President and CEO Jimmy Graganella at its Feb. 7 rate hearing. His company is seeking a 36.5% rate increase on one of its 14 insurance programs covering about 28,000 consumers in Florida.

Capitol Preferred is one of many insurers responding to deteriorating conditions in the Florida homeowners insurance market from a combination of AOB, water damage loss claims and several years of major hurricanes, as well as a what insurers call “loss creep” from those claims in recent months.

According to a June 2019 AM Best report, several carriers, including the top five publicly traded Florida insurers (United Insurance, FedNat, Heritage, Universal and Homeowners Choice) have reported adverse development related to Hurricane Irma, “considerably increasing ultimate loss estimates since impact,” Best said.

The report also noted claims from Hurricane Michael appear to be taking a “similar, though less severe, trajectory,” with several carriers increasing ultimate loss estimates as time passes.

These factors are being blamed for the need for higher insurance rates and a tightening of coverage in several regions of the state, particularly in South Florida.

Please enjoy the full article below!


A Florida judge has signed-off on a plan by regulators to allow a failed Florida property insurer’s policyholders to be assumed by another company, although policyholders will retain the option to seek coverage elsewhere.

Leon County Judge Kevin Carroll on Friday approved the deal that could result in Heritage Property and Casualty Insurance Co. assuming as many as 36,000 policyholders left seeking coverage due to the insolvency of the Sunshine State Insurance Co.

The Jacksonville, Fla.-based Sunshine State was taken over by the Department of Financial Services Division of Rehabilitation and Liquidation on June 3 after the state Office of Insurance Regulation reported the insurer could no longer meet the state’s capital requirements.

Sunshine State officials said that an accounting error related to its 2008 and 2011 catastrophic reinsurance treaties and a 2013 fourth quarter operational loss left the insurer in an untenable financial position.

Subsequent to taking over Sunshine State, the DFS held a bidding process that involved 10 companies that were evaluated based on a number of criteria including rates, surplus, catastrophic coverage and other financial considerations.

As a result, the Clearwater, Florida-based Heritage secured the non-exclusive rights to assume Sunshine State’s residential homeowner and condominium book of business.

DFS Spokesperson Chris Cate said the goal is to continue Sunshine State’s policyholders’ coverage with as little disruption as possible.

“We make it a top priority to ensure that the impacted policyholders are able to maintain coverage with a sound company and that families are protected in the event of a damaging storm or other unforeseeable disaster,” said Cate.

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;

The new line will be written by Heritage’s wholly-owned subsidiary, Heritage Property & Casualty Insurance Co.

Randy Jones, commercial president, says the commercial residential program was developed after feedback from its agent partners helps to fill a market need. “Because of their size and overall complexity, many of these properties may not qualify under the typical eligibility guidelines established by other companies.”

The Commercial Division is led by Jones and Arlene Luis, executive vice president, who both have over 30 years of combined experience in the Florida market and worked at American Capital Assurance prior to joining Heritage.

The new commercial residential line will offer a ange of commercial products, including coverage for condominium associations, homeowner associations, continuing care retirement communities, and apartment complexes.

Based in Clearwater, Fla., Heritage Insurance offers home, condominium, rental, and commercial residential insurance through a network of independent agents.

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

This company is only 1 year old, has close ties with Governor Rick  Scott  including huge campaign Contributions, and a new deal for an additional 60K policies from Citizens Insurance. This new deal, arranged by President Barry Gilway, is differant than other’s in that Heritage will take care of all claims from 2013 and current, but they can choose the policies they take, so none with claims pending are likley to be had????  They will be paid hundreds of millions of dollars to take the policies with no claims and that is a huge winfall for them. I do not know what is legal or moral, but it is happening unless Senator Fasano’s complaints go further!  In any event, the people of Fort Lauderdale and all of South Florida are feeling the wrath of higher rates and there seems to be no end in sight. Please read the full article from the Insurance Journal and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.