Homeowners.policy | The Home Insurance Guru

April 1, 2020

Demotech set to reveal downgrades as full-year results show Florida pain. Fort Lauderdale and all of Florida, this is the big one!

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 lee.gorodetsky@gmail.com

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.

March 27, 2020

Demotech Affirms Ratings of 37 Florida Insurers; Still Reviewing Others. with 46 total, that leaves 9 bad ones??? Do you have a bad one?

Posted by homeinsuranceguru under Auto Insurance, CFO, Chaisteli Insurance, Citizens Insurance, Citizens MAAC Committee, CLF, Condo Insurance, Customer service, Demotech, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Home Owners Insurance, Hurricane Updates, Insurance commissioner, Lee S. Gorodetsky LUTCF, Legislators, Miami Herald, Mitigation Inspections, OIR, Poly Pipes, Prepared Insurance, President, Propertyinsurance360.com, Public Ajustors, Reinsurance, Security First Insurance, Sun Sentinal, Tallahassee, Tower Hill Insurance, WindHaven Insurance/ Hearth, Your Insurance Consultant from L & S Insurance | Tags: AOB Claims, Auto Insurance, Car Insurance, CFO, Citizens, Consumer Advocate, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Home, Homeowners, Homeowners.policy, Hurricane, Insurance, policy, Private Flood Insurance, Public Adjustors, Reinsurance, Water Damage Claims and AOB |
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Here are the ones still in question. The bad ones. Will they be bought out or go out of business by the State Mandate next week. With Hurricane season coming and all the Covid 19 stuff happening, please don’t wait.

The companies that are still in discussions and will either be affirmed or downgraded, as of March 26, include: Avatar Property & Casualty Insurance Co., Centauri Specialty Insurance Co., Cypress Property & Casualty, Omega Insurance Co., Safepoint Insurance Co., Tower Hill Select Insurance Co., and Tower Hill Signature Insurance Co

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/03/27/562512.htm

February 5, 2020

Florida Legislative session week 3. Fort Lauderdale and S. Florida will have massive Insurance changes.

Posted by homeinsuranceguru under Auto Insurance, CFO, Chaisteli Insurance, Citizens Insurance, Citizens MAAC Committee, CLF, Condo Insurance, FEMA, Flood Insurance, Florida, Forclosure, Fort Lauderdale, Fraud, Governor, Health Insurance, Home Owners Insurance, Hurricane Updates, Insurance commissioner, Lee S. Gorodetsky LUTCF, Legislators, lloyds, OIR, Orlando Sun Sentinal, Propertyinsurance360.com, Public Ajustors, Reinsurance, Sun Sentinal, Tallahassee, Worker's comp, Your Insurance Consultant from L & S Insurance | Tags: AOB Claims, Auto Insurance, Car Insurance, CFO, Citizens, Consumer Advocate, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Governor, Home, Homeowners.policy, Hurricane, Insurance, Pip Fraud, policy, Private Flood Insurance, Public Adjustors, Reinsurance, Water Damage Claims and AOB, Worker's comp |
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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

Please enjoy the full link below.

https://myemail.constantcontact.com/NAIFA-Florida-Session-Dispatch-Week-3.html?soid=1118019259448&aid=52_cvHub5XU

August 5, 2019

Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective. Watch out Fort Lauderdale and all of Florida for more rate Hikes.

Posted by homeinsuranceguru under Auto Insurance, CLF, Condo Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Home Owners Insurance, Hurricane Updates, Insurance commissioner, Lee S. Gorodetsky LUTCF, Legislators, OIR, Public Ajustors, Tallahassee, Your Insurance Consultant from L & S Insurance | Tags: AOB Claims, Auto Insurance, Car Insurance, FEMA, Flood Insurance, Fort Lauderdale, Fraud, Home, Homeowners, Homeowners.policy, Hurricane, Insurance, policy, Private Flood Insurance, Public Adjustors, Reinsurance, Water Damage Claims and AOB |
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Please call Lee from Calle 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 them.

Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its customers with a wide choice of affordable insurance is essential for the Florida economy to prosper.

Nonetheless, the Florida insurance market faces various challenges, the most critical from a reinsurance perspective being:

The litigious environment that is driving unprecedented social inflation threatening the affordability and availability of private insurance and impairing (re)insurers efforts to address existing insurance protection gaps with innovative products.

The need to enhance and consistently enforce building codes reflecting the latest scientific developments to create more resilient communities that will save lives and mitigate damage from catastrophes

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/07/30/534215.htm

April 14, 2011

Home Insurance claims in Florida, will you get paid and when?

Posted by homeinsuranceguru under Citizens Insurance, Florida, Fraud, Governor, Governor Rick Scott, Home Owners Insurance, Julie Patel, Legislators, Public Ajustors, Rick Scott GOP, Tallahassee | Tags: Citizens, Home, Homeowners.policy, Insurance, policy, Public Adjustors |
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HB 803 and SB 408 are about ready to go to a full vote in Tallahassee and be signed by the Governor. This is part of the sweping Insurance reform bills going through this legislative sesion and to be signed by our new Governor Rick Scott. This will allow claims to get paid after the work is completed and it shortens the amount of time you have to file a claim and get paid. There are also parts of the bill that will not allow you to use a Public Adjustor for claims against Citizens Insurance and other carriers are following that lead as well. I am no fan of Public adjustors, but there is a need for many, but they have caused hundreds of millions of dollars of Fraudulent claims that have been paid and have contributed to this problem. Please read the full article by Julie Patel of the Sun Sentinal and please contact us here at L & S Insurance for all your Insurance quotes and needs;

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/04/final_stretch_for_sweeping_pro.html

August 10, 2010

Florida Insurance commissioner Kevin McCarty defends Insurance company rate hikes!

Posted by homeinsuranceguru under Citizens Insurance, Governor Christ, Home Owners Insurance, Hurricane Updates, Legislators, Tallahassee | Tags: Citizens, Florida, Home, Homeowners, Homeowners.policy, Hurricane, policy |
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During this year 140 carriers have had rate hikes ranging from 1% to 29% on a state wide average. Whatever the rate hike is, South Florida get’s double the average. Although this is necessary and I agree w/the Ins. Commissioner, why so late???? Why did he agree w/ Governor Christ before and why did he not start pushing the property bill till it was late in the game! My personal feeling is that he is looking to keep his job and no more. He is a politician and like everyone else, he does not want to get fired. Over the last 3 years rates have fallen by 30-50% across the board and now we head back up, what is wrong w/ this picture. Home owner’s in Florida are upset and the entire system for Home Insurance is in turmoil now and for several years to come. Why did it have to come to this? As if this was not enough, it appeears that Citizens Insurance also needs major rate hikes so when will our Legislature in Tall. get wise and fix the problem before disaster strikes. I guess I ask to many questions, but please read th full artucle below:

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2010/08/florida_insurance_commissioner_6.html

March 25, 2010

Florida Senate approves bill to increase insurance 33% over the next 3 years

Posted by homeinsuranceguru under Citizens Insurance, Home Owners Insurance, Hurricane Updates, Mitigation Inspections, State Farm updates | Tags: Citizens, Florida, Home, Homeowners, Homeowners.policy, Hurricane, Insurance, policy, State Farm |
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The bill passed the Insurance committee and with the bill that passed last week it looks like Insurance rates are on the rise big time in Florida for the next 3 years at a minimum. The statewide average is scheduled to be not much next year at 5% and then go to 10% and 15% respectively, but this is an avaerage. Those averages are usually double or more for South Florida and less for areas like Ocala, Tallahassee and Jacksonville.This means that mitigation inspections, and any discount you can get will be so valuable. Hurricane season is now 8 weeks away so the pressure is on in Tallahassee to get things done and they are moving quickly.This will help the Insurance markets because of the higher premiums and this should also help w/ the issue of capacity, but who will be able to afford the Insurance they must carry for the mortgage company?There is hope that this will allow more companies like State Farm and other’s to re enter the market because of the higher premiums, but that is yet to be seen.Citizens will also be increasing their premiums as well. Please read the full article below;

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2010/03/senate_panel_passes_bill_allow.html

September 23, 2009

Losses in Georgia From Flood now at over 250 million.

Posted by homeinsuranceguru under Flood Insurance, Home Owners Insurance | Tags: Flood Insurance, Florida, Home, Homeowners, Homeowners.policy, Insurance, policy |
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Losses in North Georgia will exceed 250 million over the last several days and 80% do not even have Flood Insurance. Your Home Insurance policy and Flood policy work together to be sure you are paid for a claim and not will the claim get paid??? Please read the full arrticle below;

http://www.insurancejournal.com/news/southeast/2009/09/23/103979.htm

September 9, 2009

The Atlantic hurricane season seems to quiet for me!

Posted by homeinsuranceguru under Auto Insurance, Flood Insurance, Home Owners Insurance, Hurricane Updates, Mitigation Inspections | Tags: Car Insurance, Florida, Home, Homeowners, Homeowners.policy, Hurricane, Insurance, policy |
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I have been thrilled yet nervous about this quiet Hurricane seson we have had so far. Hurricane Andrew was the first of that season and hit late August. Hurricane Wilma was the only main storm for Florida that year, but did not hit until late October. Please review your Home Insurance, Flood Insurance, and Auto Insurance coverage’s with your agent to be sure you are protected properly. Also, if you have a new roof,new garage door, new front door, hurricane shutter’s or window’s covering all opening’s, please do the mitigation inspection. The savings will be good for 5 years and you will be able to use it for 5 years.The cost is minimal and you could save thousand’s over that time period.

September 8, 2009

Tropical Storm Fred Forms over the weekend

Posted by homeinsuranceguru under Home Owners Insurance, Hurricane Updates | Tags: Florida, Home, Homeowners, Homeowners.policy |
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Tropical storm Fred is off the coast of Africa, but does not appear to be a threat for Florida. It appears Fred will turn to the North as early as today or tomorrow and head into the open Atlantic. This is always a good time to check your coverage’s with your home insurance policy to be sure you have what you need when the time comes.Do not wait until Murphey’s law takes hold and you do not have propor coverage.

The Home Insurance Guru