Florida property insurers are well-capitalized and able to handle a 1-in-100 year storm event if and when it occurs in the state, according to the Florida Office of Insurance’s 2015 Data Call and subsequent stress test report.

The annual Reinsurance Data Call conducted by OIR is part of its efforts to routinely monitor the financial strength of Florida property insurance companies. In an effort to “bolster consumer confidence levels,” Florida Chief Financial Officer Jeff Atwater asked Florida Insurance Commissioner Kevin McCarty to strengthen the financial stress tests insurers in the state are put through and to share the results with Florida’s policyholders, a statement from Atwater’s office said.

OIR released its findings this month in its “2015 Report of the Catastrophe Stress Test.”

“Florida has the unique characteristic of having the largest exposure to catastrophic hurricane risk of any state in the U.S. This characteristic puts Florida’s property insurance companies at a heightened level of risk and requires that Florida insurance regulators take a more in-depth look at the financial condition of insurance companies in this context,” the report said.

At L & S Insurance we represent 22 Insurance companies so we can shop your policy for the best quotes. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Business & Commercial, Flood Insurance, Private Flood & Life & Financial products as well.

Please enjoy the full article below;

http://www.insurancejournal.com/news/southeast/2015/10/29/386784.htm

10% in Fort Lauderdale means 20% most of the time for all of South Florida. At least they will keep the water damage coverage for now! Thanks to Julie Patel for following this story for the Fort lauderdale Sun Sentinal and to our friends at First State Insurance. Please read the full article and call L & S Insurance for Home, Auto, Flood, Business & Commercial and Life Insurance quotes at 1-888-244-7400.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/citizens_insurance_approves_10.html

Here we go again, in another attempt by Governor Rick Scott to try and reduce Citizens at a faster pace. In a good article by JuliePatel of the Fort Lauderdale Sun Sentinal  which explains all of the huge benfits new Florida based Insurance carriers will receive some huge benfits including claim help and even guarateeing the consumer for that companies rate hikes. Yes, the OIR, The Governor and people at the head of Citizens want to sell the policies to carriers, give them  perks and then guarantee rates to the consumer  at the expense of Citizens and all of it’s reserves.Now any  carrier could take a 40% rate hike, the consumer would only pay 10% on the increase and Citizens would cover the rest???? What would stop every carrier from imposing huge rate hikes and taking advantage of a system beaten for many years???  In any event, the options are many and discussions will continue for several weeks or more. Please call L & S Insurance at 1-888-244-7400 for all quotes on Home, Auto, Flood, Business & Commercial, and life Insurance quotes as well. This article was sent to us by our friends at First State Insurance.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/proposals_to_transfer_citizens.html

This inquiry by the OIR in Tallahassee  is just that and the rate hikes will come soon by State Farm. Fort Lauderdale and S. Florida will be hit hard and the amounts should be double what you read. State Farm is my new best friend so many of the loyal cusotmer’s for so many years at these rates are not willing to be clients anymore. Please call L & S INsurance at 1-888-244-7400 for quotes on Home INsurance, Auto, Flood, Business and Commercial and Life Insurance as well. Please enjoy the article by Julie Patel of the Fort lauderdale Sun Sentinal and brought to us by our friends at First State Insurance.

http://articles.sun-sentinel.com/2012-07-25/news/sfl-state-farm-insurance-grilled-20120725_1_state-farm-florida-office-of-insurance-regulation-rate-hike

Look at the average increases and then double them if you live in Fort Lauderdale or South Florida and even the rest of Florida will get hit!! These increases come on top of already huge increses this year from each of those carriers, but my info says that 19 carriers are scheduled for rate hikes later this year. Julie Patel of the Fort Lauderdale Sun Sentinal writes this article, but the real unknown question is what will the Citizens rate hikes be for January 2013?? The Mitigation inspections being redone are causing huge rate increases, but if we do not see a large increase from Citizens  people will be choosing Citizens still and that does not meet what the Governor wants to accomplish. Either way, it is very expensive to own a home here in S. Florida as my Insurance is already 50% more than my taxes? Please call L & S for a  quote on Home, Auto,Flood Business & Commercial, and even Life Insurance at 1-888-244-7400. This article below was sent to us by our Friends at First State Insurance.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/three_major_florida_home_insur.html

There are state regulated time frames for processing claims, but Hurricane Wilma claims have been allowed to be much longer than normal. The norm is within 60 days, But Wilma claims have been around for years. In this article by Julie Patel of the Fort lauderdale Sun Sentinal you will see that this claim submitted years after Wilma will now be declined because of the dates it was submitted. I am in agreement w/ the decision as you can always blame the Hurricane for old issues, but you should take care of your home and have it checked to be sure there are no problems. Florida is like Fraudula  and a  lot of Public adjustors just want to blame all unexplained claims to Hurricane Wilma still 4-6 years  later and this cannot still be allowed. Please read the full article below which was sent to us by our Friends at First State Insurance and please call L & S at 1-888-244-7400 for all of your Home, Auto, Business & COmmercial, Flood and even Life Insurance quotes.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/bad_news_for_some_state_farm_c.html

In an article by Julie Patel just ask yourself 1 question and then maybe another. If you could spent $37 Million doing Mitigation Inspections on homes previously inspected, using new forms,  and receive annually more than $137 Million, how many inspections would you do?? Well, this is simple math and together with the Inspections being more dificult to qualify for credits, Citizens and now every other carrier are all willing to do a new Mitigation Inspection to increas the revenue they receive. This means that owning a home in Florida is that much more money now close to averging 4K per year in Fort Lauderdale and all of South Florida. Please read the full article blow  brought to us by our friends at First State Insurance and please call L & S Insurance  at 1-888-244-7400 to try to shop out your Home,Auto, Flood, Business & Commercial and even life Insurance.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/citizens_insurances_premiums_r.html

You will now loose more coverages  limitations like water damage, have higher deductables and higher rates as well. According to Julie Patel of the Fort lauderdale Sun Sentinal, the Citizens board approved all of those changes and more still to come.   More reasons why Citizens is still trying very hard to tell everyone that they need to start looking for coverage elsewhere at any price.Our Governor has mandated this and soon you will not have any choice so it is best to start the process ssoner rater than later. Good luck with Citizens claims as Public adjustors will not want to even try w/ Citizens even though they are no longer allowed by law anyway. Please  tell all of your fiends to call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial, and life Insurance quotes. Please enjoy the article below brought to us by our friends at First State Insurance.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/_implementing_a_limit_of.html

Citizens Insurance  is not looking to be nice as they have told the consumer  to go out and  get Private Insurance. These trends will continue until Citizens reaches Governor Scotts goal of being down to 750K policies in less than 3 years. My next Blog should have more on the rate Hikes for next year as well as more negative changes for Citizens Policy holder’s as they renew(If they are not smart enough to ask us to shop it out for them.) Please read the full article by Julie Patel of the Fort Lauderdale  Sun Sentinal and sent to us by our friens at First State Insurance. Please enjoy the article and call L & S Insurance at 1-888-244-7400 for a quote on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/citizens_insurance_has_more_di.html

They have raised rates faster and have done more negative  changes that affect the consumer  than any other carrier, but they still  have incurred losses in 2011 totalling 511 Billion overall. The 50% increase to Citizens planned for next year  to help reduce the Citizens population so it will be able to afford the posible catastrophe is now more likely. This article sounds quite cheerful,but  it will hurt consumer’s and Real Estate owner’s as well as the entire Real Estate Industry.I do not know why Julie Patel of the Fort Lauderdale Sun Sentinal is so pleased with the story, but we will see real soon what happens. Please read the full article below and please call L & S Insurance at 1-888-244-7400 for all of your Home,Auto, Business & Commercial, Flood and even Life Insurance quotes.This story was sent to us by our friends at First State Insurance.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/07/some_good_signs_for_citizens_i.html