With all of the media and now a Judge trying to repeal the bill passed last year and signed by Governor Rick Scott. No one seems to want to take the bull by the horn as they are all afraid of the repurcussions that are needed to save PIP Fraud from getting even worse. Propor reform will affect a lot of people and that will break friendships and donations made. Who is willing to loose that money to do what is needed in Florida and then who will actually vote for it anyway. This looks like it will again go nowhere. Please read the full article below from the Insurance Journal. Please call L & S for quotes on Home, Auto, Flood, Business & COmmercial and Life Insurance as well at 1-888-244-7400.


I have been preaching this to all of our clients and Realtors throughout all of Florida and now it is in print. Thanks to Paul Owers of the Fort Lauderdale Sun Sentinal, everyone should know about this before buying a home or purchasing a new Home Insurance policy from a new carrier as it may backfire. Please call L & S Insurance at 1-888-244-7400 for quotes on Home,Auto, Flood, Business & Commercial, and Life Insurance as well. Please read the full article below.


Using 350 Million from the reserves of Citizens over 10 years to Insurance companies. This will occur and once out, there should be no need to go back to Citizens. People will still be able to opt out and stay w/ Citizens. but there will be no reason to do that. The rates will be guaranteed to be no higher than Citizens would have been at the renewal. This is actually a good idea because money that will now be able to be used for the reserves on a 1 million policy company instead of a 1.5 million policy company. That reduction in policies will make the 6 billion in reserves currently a better fit if a Hurricane does hit and the reserves are needed. What will happen if a Hurricane hits this year or next, while the transition is occuring is not real clear to me yet, but time will tell. Please read the full article written by Paul Owers of the Fort Lauderdale Sun Sentinal and brought to us by our friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Business & Commercial, Flood and even Life Insurance quotes as well.


Interem President of Citizens Tom Grady and at least 25 Legislators in Tallahassee do not like what they see if a Hurricane hits Florida w/ the current population of nearly 1.5 million policy holders. The Legislators now say to Citizens,”Do what you need to do to reduce the exposure or call it Exposure Management.) Most carriers reduce policy holders in a zipcode or county. Since Citizens is now again the Insurer of last resort and they cannot drop people for  that reason, they need other reasons. Those reasons will now be 50% or 100% rate hikes to make policy holders  go shopping to the private markets when they see the new rates next year. With every carrier scheduled or will be scheduled for rate hikes of their own this year, they will be plenty of room for the business to be picked up by the other Insurers, but what happens when the storm does hit????  Also, the rates of Insurance are already more than taxes so how can people afford the homes they live in?? More to come, but enjoy the article and interview below. Please call L & S Insurance at 1-888-244-7400 to shop out your policy for Home, Auto, Flood, Business & Commercial and even Life Insurance.


Senator Mike Fasano and Governor Rick Scott may now be on the same page. The real question is which page are they on??? Now they want to consider keeping Citizens for Wind policies only. I do not know which is in a dream world, but Senator Fasano who was trying to be for the people, just lost it. The Citizens board will all meet in July to discuss many options including the 10% rate cap being  increased to 25% which I blogged on recently. Let’s see what happen’s in July and in the meantime, please read the full article below by Paul Owers of the Fort lauderdale Sun Sentinal. If you need quotes on Home, Auto, Flood, Business & Commercial or even Life Insurance quotes please call L & S at 1-888-244-7400.


The Sun Sentinal’s Paul Owers and Julie Patel tell us what to expect next year from Citizens Insurance. Higher rates will soon be coming, the 10% cao should change to 25%, and the other carriers will be able to maintain the higher prices they now have. The only differance wil be that Citizens will not be the cheapest carrier in Florida any more. Of course there are exceptions and we expect 700K or more will still stay in Citizens Insurance as they will still not be able to find a market. It looks like the Insurance industry loves Governor Rick Scott and only the consumer’s paying these extreme rate hikes are doing the complaining. The Real Estate Industry is very affected by this and change will have to come soon, but that may take a new Governor. Owning a home in Florida now cost more for home Insurance than the Real Estate taxes they pay??? Please enjoy the article that was sent to us by our friends at First State Insuance and please call L & S  at 1-888-244-7400 to ask for a  quote on your Home, Auto, Flood, Business & Commercial and even Life Insurance policies. Hurricane season is close so be ready and shop your Insurance now!!


Currently under State Law the rate increase was mandated to be no more than 10%. The Citizens Insurance Board of Governors  wants to raise that cap to a higher rate like 25% or more. This is designed to make people get out of Citizens and not make the rate look so attractive. The increase would also allow more Private Insurance carriers to pick up some of the business and get the State of Florida off the hook for the coverage’s. Citizens Currently insures  1.5 million people and Governor Rick Scott wants that number cut in  half in the next 3 years or sooner. All of the changes that have occured so far have all been ordered by Governor Scott to help expedite the process. He wants Citizens to become the Insurance company of   last resort again and not a competitive carrier like it is currently. The rate cap is a Legislative one and must go through the Florida Congress in Tallahassee  for approval and none of them want to vote on this issue this year which is why the cap remains. Senator Fasano has been an advocate for keeping the rates down to help the economy and the Realtor association FAR has also done the same because insurance rates are so high that the Real estate market  is having a tough time and it is hurting the business which is a problem for all of us. The bottom line is that this will occur and most likely next year, so be Prepared.This article was sent t us by our Friends at First State Insurance. Please enjoy the Full article below by Paul Owers and Julie Patel of the Fort Laderdale Sun Sentinal and also call L & S Insurance at 1-888-244-7400 for all of your quotes for Home, Auto, Flood, Business & Commercial and even Life Insurance.


Whoever did not know this does not read much, but they can and do drop people all of the time. Many of our clients at L & S are dropped for many reasons and they also do not accept everyone as well which can really hurt the Real Estate market. If you are west of I-95 and you are in Citizens Insurance and your home was built in the 70’s or later, you can usually find coverage if the home is a primary home. The problem is finding an agent that can get you coverage as not every agent can. L & S Insurance is one of those agencies that represents currently 13 carriers writing Home Insurance in Fort Lauderdale and all of S. Florida as of today. This is the most carriers we have ever had writing at one time, but the problem is price and they are high. Please read the full article below by Paul Ower’s of the Fort lauderdale Sun Sentinal and remember to call L & S Insurance at 1-888-244-7400 for all of your quotes for Home Insurance, Flood Insurance,Business & Commercial coverage, Auto Insurance and even Life Insurance. This article was sent to me by our friends at First State Insurance.