Please call  Lee from  USAsurance  & Calle Financial. 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

Let us help you get Flood Insurance & learn about the Flood maps as Broward County will be revising the Flood maps again in 1-2 years.

The U.S. Senate approved a bill Wednesday that funds the federal government through Dec. 11; the bill includes a full-year extension of the National Flood Insurance Program (NFIP) and surface transportation funding.

The bill, which was passed by the U.S. House last week, now goes to President Trump. He is expected to sign it.

Under the agreement, NFIP authority is extended through Sept. 30, 2021.

“This is the second year in a row we have secured a full fiscal year extension for flood insurance.  It is a victory for REALTORS® and something we fought for very hard,” says Shannon McGahn, the incoming chief advocacy officer for NAR.  “While we continue to work toward comprehensive reform and long-term reauthorization, the marketplace needs stability and continuity.”

Also included in the continuing resolution is a similar extension of surface transportation funding.

“Transportation projects take years from concept to completion, and any lapse in funding is especially disruptive,” McGahn says. “This is a big win, especially for our commercial members who are eagerly looking toward a post-coronavirus market.”

Please call  Lee from  USAsurance  & Calle Financial. 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

The survey of 1,582 Florida voters conducted August 31 to September 2 by “Get Ready, Florida!” – a statewide public education initiative produced by the nonprofit FAIR Foundation, follows one conducted by the organization at the start of this year’s hurricane season. The new survey indicates a slight shift in Floridians concerns about hurricane season at its halfway mark compared with the start of the season in June, during the height of the pandemic.

The most recent survey looked at Floridians recovery expectations for catastrophic storms. Most respondents (68%) said they would find it difficult to pay the average $5,000 hurricane deductible if needed, with only 32% indicating that the $5,000 deductible would be “very manageable” or “no problem” at all to pay following a storm.

More than six in 10 (62%) of Floridians with homeowners or renters insurance said they are unsure what their policies would cover following a storm. And, despite the fact that most hurricane policies do not cover tree and debris removal from yards, 16% of survey respondents said they believed this benefit is covered in their policy. Almost one-third of those surveyed say they would be willing to pay something extra each month in order to have their policies cover these services.

Twenty-seven percent of respondents said they’ve experienced problems relating to yard debris or fallen trees following a storm. This includes 19% who say they have been blocked from their home or driveway, 11% who say they were stuck with large bills for debris removal, and 4% who say that they or a member of their household have been injured trying to remove debris out of the way.

More than two-thirds would like their local governments to plan ahead and line up debris removal services in advance so life can return to normal as quickly as possible following a disaster.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/09/17/582901.htm

Please call  Lee from  USAsurance  & Calle Financial. 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

Stay safe to all??????????????????????????????????

https://www.insurancejournal.com/news/southeast/2020/08/26/580363.htm

Please call  Lee from  USAsurance  & Calle Financial. 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

If you want this coverage, now it will cost so much more. The existing coverage requires property damage to have occurred like a fire or Hurricane. This coverage was always available at a higher premium, but most never want to pay for it till needed.

The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus.

In a case brought by the owner of several restaurants against its insurer over business interruption due to the coronavirus shutdown ordered by the mayor, a District of Columbia Superior Court judge has sided with the insurer, ruling that the restaurant’s insurance policy is not triggered because the shutdown did not amount to direct physical loss.

Finding that the plaintiff restaurants failed to prove there was any direct physical loss, Associate Judge Kelly Higashi on Thursday granted a summary judgment in the suit in favor of Erie Insurance Exchange.

In March, D.C. Mayor Muriel Bowser issued several orders. They included a ban on indoor dining, the closing of all non-essential businesses, and an order for residents to shelter-in-place. Rose 1 had to close its restaurants as a result.

Please enjoy the full article below;

https://www.insurancejournal.com/news/national/2020/08/07/578232.htm

Please call  Lee from  USAsurance  & Calle Financial. 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 hurricane season heats up, a growing number of properties located outside of FEMA-designated high-risk flood zones are already flooding. The problem is especially bad in the urban areas of America’s cities. A national survey shows nearly 85% report experiencing urban flooding. Insurance claims are on the rise, too.

“Urban flooding is kind of this hidden danger among all flood risks in the United States,” according to Dr. Sam Brody of Texas A&M University and Director of the Center for Texas Beaches and Shores.

It occurs mostly in high growth areas, where development brings rain impervious surfaces, such as roads, driveways, and parking lots, which change the natural drainage pattern of the land.

“It’s bringing flood impacts to unexpected areas, sometimes miles outside of the FEMA-designated 100-year flood plain.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/08/06/578090.htm

Please call  Lee from  USAsurance  & Calle Financial. 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.

Florida’s state-run insurer Citizens Property Insurance Corp. will extend its moratorium on cancellations and nonrenewals until the end of 2020 despite saying earlier this month it would resume processing them on Aug. 15.

The decision comes after Florida CFO Jimmy Patronis urged the insurer not to cancel customer policies during hurricane season and the ongoing COVID-19 pandemic.

“Hurricane season is just beginning to heat up and we are in the middle of an unprecedented health and economic crisis. This is not the time to cancel Citizens’ home insurance policies,” Patronis said in a public statement released by his office, the Florida Department of Financial Services, on July 24.

The insurer originally announced in an agent bulletin July 9 that it would resume the processing of cancellations and nonrenewals beginning Aug. 15, 2020, after imposing a moratorium in March to address a significant uptick in the percentage of premiums not paid by the due date.

Citizens reported that figure has since fallen to pre-COVID-19 levels, and now stands at 7.5%.

Patronis noted that what policyholders owe must still be paid, “but cancelling their policies during hurricane season should not be an option.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2020/07/28/577046.htm

Please call  Lee from  USAsurance  & Calle Financial. 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.

Citizens originally stopped these processes on March 27 “to ease the burden for policyholders” due to the impact of the COVID-19 health risk.

The insurer said direct-billed customers with past-due premium accounts must make a payment to avoid cancellation by August 15. For policyholders who are unable to pay their past-due amount, Citizens will allow them to make a payment arrangement. This option is available only to COVID-affected policyholders with past-due balances, and they must contact Citizens by August 15 to initiate the arrangement.

Payment arrangement options are not available for new business or current policyholders who have less than three months remaining in their policy term.

Citizens said it would immediately email impacted agents and provide policy lists and details regarding payment options, as well as mail/e-mail eligible past-due policyholders with payment options and related information. It will also contact via mail or e-mail ineligible policyholders with information that their policy will cancel if payment is not received by August 15.

If a customer’s coverage is no longer is needed, agents should cancel it in PolicyCenter as soon as possible, Citizens said.

Additionally, Citizens has developed special payment arrangements for eligible policyholders affected by COVID-19. Specific details are available on its website. The special payment arrangement will divide the past-due amount evenly by the number of months left in the term. The option is available for its commercial and personal lines products, except for new business or for current policyholders who have less than three months remaining on their policy term.

Please enjoy the full article below!

https://www.insurancejournal.com/news/southeast/2020/07/14/575403.htm#

Please call  Lee from  USAsurance  & Calle Financial. 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.

Within the past few months, experts in all industries have analyzed the ways the coronavirus pandemic will affect their business environments. Insurance is no different.

As the pandemic’s impact on the insurance market gradually unravels, experts can turn to various indicators to determine how much the industry has been affected thus far.

Consider USI Insurance Services’ recently released “Q2-2020 Commercial Property & Casualty Insurance Market Outlook Report,” which highlights key industry trends amidst ongoing COVID-19 challenges.

“While it is too soon to determine the full impact of COVID-19 on the property & casualty insurance industry, markets are facing unique and interrelated challenges that industry insiders feel will continue through 2020 and well into 2021,” Robert Meyers, senior vice president, property & casualty leader at USI, said in the report. ”In fact, as rate increases, capacity reductions, and other negative trends continue to harden the market, the industry faces a number of challenges and uncertainties resulting from the ongoing COVID-19 pandemic. The property, umbrella/excess liability, casualty, and directors & officers (D&O) liability markets are currently dealing with the most significant issues.”

Among USI’s findings is the reveal that all segments of the property sector are experiencing higher rates, capacity restrictions/limitations, and other challenges resulting from excessive underwriting submissions, virus claims and lawsuits, and more.

Please enjoy the full article below;

https://www.propertycasualty360.com/2020/07/06/pc-insurance-market-outlook-q2-2020/?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 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.

Consumer advocate calls for auto insurers to provide more premium relief

The Consumer Federation of America (CFA) has requested that auto insurers in Michigan further reduce premiums for their customers to account for reduced driving activity and accidents during the COVID-19 pandemic.

Earlier this month, Michigan Governor Gretchen Whitmer and the state’s Department of Insurance and Financial Services (DIFS) ordered all auto insurers to either issue refunds or premium waivers to consumers.

Read more: Governor, Department of Insurance mandate insurer rebates

But the CFA believes that insurers can do more to compensate drivers, especially since the pandemic-driven lockdowns have led to drastically reduced driving activity and less roadside collisions – while insurers continued to charge regular rates.

“They are sitting on this coronavirus windfall, and they need to give it back,” CFA national insurance expert Doug Heller told MLive.

Please enjoy the full article below:

https://www.insurancebusinessmag.com/us/news/breaking-news/consumer-advocate-calls-for-auto-insurers-to-provide-more-premium-relief-226272.aspx?ref=insurancedailynews

Please call  Lee from  USAsurance  & Calle Financial. 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.

Most Fla. property owners will likely pay more when their policies renew, as insurers pass along increasing costs of coverage they need to pay claims after a disaster.

FORT LAUDERDALE, Fla. – Florida homeowners, already paying nearly the highest home insurance rates in the nation, should get ready for more sticker shock if and when their policies next renew.

Premiums for most Florida property owners are poised to jump again – sharply – as insurers pass along skyrocketing costs of coverage they need to pay claims after a catastrophic hurricane or other weather event.

That coverage is called reinsurance. It’s insurance that insurers must buy to prevent them from going broke – and to make sure you get paid – after a disaster.

By the June 1 start of every year’s hurricane season, insurers negotiate new reinsurance contracts for the upcoming year. Global capital firms provide the coverage, financed by investors who hope their outlay brings them a higher percentage of profit than if they had left the money in stocks, bonds or other investments.

This year, reinsurance prices increased 20% to 30% in Florida, and averaged 26.1% for companies that cover the most vulnerable catastrophe zones in the U.S., according to a report from artemis.bm, a reinsurance-focused news website.

The increases are the steepest in Florida in more than a decade and are similar to increases that drove up rates for policyholders after the 2005 hurricane season, the report stated, adding that companies hit hardest by claims and lawsuits in recent years faced increases of more than 45%.

Big hikes coming for policyholders

Industry experts say the increases soon will trickle down to Florida property owners who already pay $3,643 on average a year to insure their homes. That’s nearly $1,338 more than the national average

Please enjoy the full article below;

https://www.floridarealtors.org/news-media/news-articles/2020/06/insurance-firms-ready-charge-more-money-storm-season