Florida residents who have sinkhole insurance through the state-backed property insurer will not have to pay a proposed statewide average 447 percent increase.
Citizens Property Insurance Corp. customers will also be spared big price hikes for standard coverages under several rulings by Insurance Commissioner Kevin McCarty.
Instead of the approving the requested 447 percent average increase in sinkhole rates, McCarty approved a statewide average 32.8 percent increase for Citizens, an increase he said is viable until there is more data from the reforms contained in this year’s property bill.
contact me for further information
http://www.es-insurance.com/
Wednesday, September 21, 2011
Monday, September 12, 2011
Board of Florida’s Citizens to Meet Today on Sinkhole Rates
The board of governors of Florida’s Citizens Property Insurance Corp. has called for an emergency meeting today to consider phasing in a proposed statewide average 429 percent sinkhole rate increase.
Newly-named Chairman Carlos Lacasa has called for the meeting in response to the growing controversy surrounding the issue. The meeting comes just one day before a public hearing on the issue in Tampa.
A Citizens’ staff proposal calls for no change in the overall sinkhole rate increase. However, the staff is recommending that the increase be phased-in over a yet to be determined number of years.
“The implementation plan developed by our actuarial staff would result in an overall average statewide and territorial premium increase for sinkhole coverage of 50 percent for the first year,” states the staff proposal.
The board will also take into consideration the sinkhole provisions contained in SB 408, the primary property insurance bill enacted earlier this year. Among other things, the bill created a statutory definition of “structural damage,” placed a two-year limit on claims, and created a number of fraud provisions.
Insurance Commissioner Kevin McCarty has said that Citizens failed to take these reforms into effect when setting sinkhole rates.
A Citizens’ staff analysis states that while it is difficult to project the impact of SB 408 on sinkhole losses next year, it is projecting that the sinkhole provisions will result in a 60 percent reduction in sinkhole premium for 2012.
In 2010, the state-backed insurer collected $32 million in sinkhole premium, but paid out roughly $250 million in claims.
For more info contact me.
http://www.es-insurance.com/
Newly-named Chairman Carlos Lacasa has called for the meeting in response to the growing controversy surrounding the issue. The meeting comes just one day before a public hearing on the issue in Tampa.
A Citizens’ staff proposal calls for no change in the overall sinkhole rate increase. However, the staff is recommending that the increase be phased-in over a yet to be determined number of years.
“The implementation plan developed by our actuarial staff would result in an overall average statewide and territorial premium increase for sinkhole coverage of 50 percent for the first year,” states the staff proposal.
The board will also take into consideration the sinkhole provisions contained in SB 408, the primary property insurance bill enacted earlier this year. Among other things, the bill created a statutory definition of “structural damage,” placed a two-year limit on claims, and created a number of fraud provisions.
Insurance Commissioner Kevin McCarty has said that Citizens failed to take these reforms into effect when setting sinkhole rates.
A Citizens’ staff analysis states that while it is difficult to project the impact of SB 408 on sinkhole losses next year, it is projecting that the sinkhole provisions will result in a 60 percent reduction in sinkhole premium for 2012.
In 2010, the state-backed insurer collected $32 million in sinkhole premium, but paid out roughly $250 million in claims.
For more info contact me.
http://www.es-insurance.com/
Tuesday, August 30, 2011
Do elevation certificates reduce flood insurance premiums?
- Very often, flood insurance premiums are reduced through the use of elevation certificates. In the absence of the data and information provided on elevation certificates, flood insurance companies assume the worse case scenario and charge the highest rates. Many property owners elect to purchase elevation certificates for pre-FIRM homes and buildings in the high-risk flood zones to determine if the flood insurance premium rate would be lower when rated according to post-FIRM rules. It is however in your best interest to consult your insurance agent prior to conducting an elevation certificate, also before grandfathering if you wish to do the opposite and get a post-FIRM building rated as pre-FIRM.
For more information and to request a quote for Flood Insurance
contact me http://www.es-insurance.com/
The elevation certificate is used primarily:
- By insurance agents and insurance companies to determine the proper flood insurance premium rates for individuals and businesses purchasing flood insurance polices through the NFIP.
- By property owners to support a request to FEMA for a Letter Of Map Revision (LOMR) to remove a home or building from a Special Flood Hazard Area (SFHA).
- By local building officials during the development process to ensure that all newly constructed homes and buildings comply with community floodplain management ordinances, which are based upon federal floodplain regulations set by FEMA.
- By federally regulated lending institutions, and their flood zone determination vendors, to correct geographic errors made during the standard flood zone determination process.
For more information contact me
http://www.es-insurance.com/
What is an Elevation Certificate?
The elevation certificate is an important administrative tool for the National Flood Insurance Program (NFIP) and an important risk management tool for property owners with buildings currently classified within FEMA designated Special Flood Hazard Areas (SFHA). It provides information on elevation, building type, flood map location, and additional information used to determine the proper flood insurance premium rates. It is also used to support a request for a Letter Of Map Amendment (LOMA) or Letter Of Map Revision (LOMR), and to ensure compliance with community floodplain management ordinances.
An elevation certificate measures the difference in elevation between your home and the base flood elevation of your area. It is required in order to properly rate post-FIRM buildings, which are buildings constructed after the publication of the first Flood Insurance Rate Map (FIRM) in a particular community, in zones A1-A30, AE, AH, A (with BFE), VE, V1-V30, V (with BFE), AR, AR/A, AR/AE, AR/A1-A30, AR/AH, and AR/AO. However, an elevation certificate is not required to buy flood coverage for pre-FIRM buildings unless the property owner or insurance agent wants to rate the buildings under the post-FIRM flood insurance rules to determine if the premium rate would be lower.
The elevation certificate must be signed and sealed by a land surveyor, engineer or architect authorized by law to certify such information. Most elevation certificates are prepared by surveyors licensed by the state in which the subject property is located.
For more information contact me.
http://www.es-insurance.com/
An elevation certificate measures the difference in elevation between your home and the base flood elevation of your area. It is required in order to properly rate post-FIRM buildings, which are buildings constructed after the publication of the first Flood Insurance Rate Map (FIRM) in a particular community, in zones A1-A30, AE, AH, A (with BFE), VE, V1-V30, V (with BFE), AR, AR/A, AR/AE, AR/A1-A30, AR/AH, and AR/AO. However, an elevation certificate is not required to buy flood coverage for pre-FIRM buildings unless the property owner or insurance agent wants to rate the buildings under the post-FIRM flood insurance rules to determine if the premium rate would be lower.
The elevation certificate must be signed and sealed by a land surveyor, engineer or architect authorized by law to certify such information. Most elevation certificates are prepared by surveyors licensed by the state in which the subject property is located.
For more information contact me.
http://www.es-insurance.com/
Tuesday, July 19, 2011
Mitigation Inspections Hike Premiums for Insureds of Florida Citizens
Florida property owners who purchased coverage from the state’s run property insurer have seen their premiums increase by an average $476 as a result of the insuring inspecting their property.
Citizens Property Insurance Corp. launched a program last year to inspect homes after it suspected that some policyholders were getting hurricane mitigation discounts they didn’t deserve for supposedly upgrading their protection against windstorm damage.
As of May, the insurer had conducted more than 32,000 inspections, resulting in policyholders, on average, seeing their premiums increase by $476 for a total of $15.5 million. According to the insurer’s Market Accountability Advisory Committee, the insurer rescinded discounts for 60 percent of those inspected, while handing out discounts to eight percent of the affected policyholders.
The committee reported that around 15 percent of the insurer’s 17,365 policyholders up for renewal in May dropped their coverage, probably due to the higher costs. Forty-five of those policyholders were condominium buildings and another 15 percent were homeowners and condominium unit owners.
Policyholder premiums are expected to rise by $23 million this year based on the inspection program. The amount is more than exceeds the cost of the program, on which Citizens plans on spending $14.5 million this year. That pricetag includes $10.8 million for three companies conducting the inspections.
For more information Contact me.
http://www.es-insurance.com/
Citizens Property Insurance Corp. launched a program last year to inspect homes after it suspected that some policyholders were getting hurricane mitigation discounts they didn’t deserve for supposedly upgrading their protection against windstorm damage.
As of May, the insurer had conducted more than 32,000 inspections, resulting in policyholders, on average, seeing their premiums increase by $476 for a total of $15.5 million. According to the insurer’s Market Accountability Advisory Committee, the insurer rescinded discounts for 60 percent of those inspected, while handing out discounts to eight percent of the affected policyholders.
The committee reported that around 15 percent of the insurer’s 17,365 policyholders up for renewal in May dropped their coverage, probably due to the higher costs. Forty-five of those policyholders were condominium buildings and another 15 percent were homeowners and condominium unit owners.
Policyholder premiums are expected to rise by $23 million this year based on the inspection program. The amount is more than exceeds the cost of the program, on which Citizens plans on spending $14.5 million this year. That pricetag includes $10.8 million for three companies conducting the inspections.
For more information Contact me.
http://www.es-insurance.com/
Monday, July 11, 2011
Florida Tweaks Its Workers’ Compensation Law
A variety of changes to Florida’s workers’ compensation law went into effect July 1.
Gov. Rick Scott signed into law CS/HB 1087, a catch-all insurance bill that includes changes relating to workers’ compensation policy cancellations, premium audits and prepaid benefit cards.
One change allows injured workers to receive their monetary benefits in the form of a prepaid card. Under the previous law, benefits were only payable by check or direct deposit into an injured worker’s bank account.
If injured workers choose the prepaid card option, they must have at least one means of accessing their weekly benefits without incurring any fees. They must also have the ability to make point-of-sale purchases without incurring fees from the financial institution issuing the card.
The new law changes the state’s Special Disability Trust Fund assessments from a fiscal year to a calendar year basis. The Division of Workers’ Compensation has set the assessment rate on workers’ compensation insurers; assessable mutual, electrical cooperative self-insurance funds; and individual self-insurers at 1.46 percent of their net written premiums from July 1 through December 31. Come January 1, 2012, the assessment rate will drop to 1.44 percent.
Also under the new law, employer workers’ compensation premium audits are no longer required unless mandated by the insurance policy, or requested by regulators or insureds.
Under the prior law, when an insured requested a cancellation of a workers’ compensation policy, the cancellation became effective when the insurer sent a formal notice of cancellation to the insurer. The new law strikes that provision and provides that the effective date of the cancellation is either the date requested by the insured or the date of the written request if no date is specified.
The new law also clarifies who must be notified regarding renewal premium, nonrenewal, cancellation or termination of a workers’ compensation policy.
Under the prior law, a “first named insured” is generally the first named insured on the policy declaration, which has the legal authority to administer the policy. However, a company operating in multiple locations may name each location as a “named insured.” As a result, even if the company’s headquarters administers the policy, the other locations must receive certain policy notices.
Under the new law, insurers may send a notice of renewal premium or nonrenewal of a policy to only the location that administers the policy. Industry representatives said this will reduce the administrative cost of sending multiple certified mail notices to all named insureds.
For more information contact me
http://www.es-insurance.com/
Gov. Rick Scott signed into law CS/HB 1087, a catch-all insurance bill that includes changes relating to workers’ compensation policy cancellations, premium audits and prepaid benefit cards.
One change allows injured workers to receive their monetary benefits in the form of a prepaid card. Under the previous law, benefits were only payable by check or direct deposit into an injured worker’s bank account.
If injured workers choose the prepaid card option, they must have at least one means of accessing their weekly benefits without incurring any fees. They must also have the ability to make point-of-sale purchases without incurring fees from the financial institution issuing the card.
The new law changes the state’s Special Disability Trust Fund assessments from a fiscal year to a calendar year basis. The Division of Workers’ Compensation has set the assessment rate on workers’ compensation insurers; assessable mutual, electrical cooperative self-insurance funds; and individual self-insurers at 1.46 percent of their net written premiums from July 1 through December 31. Come January 1, 2012, the assessment rate will drop to 1.44 percent.
Also under the new law, employer workers’ compensation premium audits are no longer required unless mandated by the insurance policy, or requested by regulators or insureds.
Under the prior law, when an insured requested a cancellation of a workers’ compensation policy, the cancellation became effective when the insurer sent a formal notice of cancellation to the insurer. The new law strikes that provision and provides that the effective date of the cancellation is either the date requested by the insured or the date of the written request if no date is specified.
The new law also clarifies who must be notified regarding renewal premium, nonrenewal, cancellation or termination of a workers’ compensation policy.
Under the prior law, a “first named insured” is generally the first named insured on the policy declaration, which has the legal authority to administer the policy. However, a company operating in multiple locations may name each location as a “named insured.” As a result, even if the company’s headquarters administers the policy, the other locations must receive certain policy notices.
Under the new law, insurers may send a notice of renewal premium or nonrenewal of a policy to only the location that administers the policy. Industry representatives said this will reduce the administrative cost of sending multiple certified mail notices to all named insureds.
For more information contact me
http://www.es-insurance.com/
Friday, July 8, 2011
How much car insurance am I required to have if I still have an auto loan?
State laws dictate the minimum amount of car insurance for liability that you must carry on your vehicle and the remaining insurance coverage that is available is usually optional. However, if you have an auto loan you are typically required to carry additional insurance by your creditor. The amount of car insurance you are required to have if you have an auto loan will be for liability coverage, comprehensive coverage, and collision coverage.
While you will be instructed by the state and your lender as to how much coverage to purchase, the deductible will be your choice, which can help keep your premium lower. Once your car is paid in full, it will be at your discretion to continue the collision and comprehensive car insurance coverage or to cancel it and maintain only liability. Most often, the age and condition of your vehicle will dictate your decision.
To learn how much auto insurance coverage your lender will typically require of you and what type of auto insurance coverage most lenders will require you to have please conctac me. I will be happy to provide you with a quote.
http://www.es-insurance.com/
While you will be instructed by the state and your lender as to how much coverage to purchase, the deductible will be your choice, which can help keep your premium lower. Once your car is paid in full, it will be at your discretion to continue the collision and comprehensive car insurance coverage or to cancel it and maintain only liability. Most often, the age and condition of your vehicle will dictate your decision.
To learn how much auto insurance coverage your lender will typically require of you and what type of auto insurance coverage most lenders will require you to have please conctac me. I will be happy to provide you with a quote.
http://www.es-insurance.com/
Wednesday, July 6, 2011
Florida Reinstates Online Driver Permit Tests for Teens
Florida teenagers once again will be allowed to take their learner’s permit tests online.
The Department of Highway Safety and Motor Vehicles in January halted an online testing pilot program when they determined that about 40 percent of the test-takers who passed the exam online failed in person.
A law signed by Gov. Rick Scott bringing back the online test took effect July 1.
The agency’s legislative affairs administrator, Steven Fiedler, said the new testing system is improved and holds parents more accountable. If a teenager is found to have cheated, the parent’s driver’s license could be suspended.
Fiedler said the online testing is driven mostly by customer convenience. About 70,000 teenagers apply for the learner’s permit each year.
parents are accountable for their kids actions, and there is no exception on insurances. make sure you always include your kids in the auto insurance policy as soon as they have a valid driver license.
for more information contact me
http://www.es-insurance.com/
The Department of Highway Safety and Motor Vehicles in January halted an online testing pilot program when they determined that about 40 percent of the test-takers who passed the exam online failed in person.
A law signed by Gov. Rick Scott bringing back the online test took effect July 1.
The agency’s legislative affairs administrator, Steven Fiedler, said the new testing system is improved and holds parents more accountable. If a teenager is found to have cheated, the parent’s driver’s license could be suspended.
Fiedler said the online testing is driven mostly by customer convenience. About 70,000 teenagers apply for the learner’s permit each year.
parents are accountable for their kids actions, and there is no exception on insurances. make sure you always include your kids in the auto insurance policy as soon as they have a valid driver license.
for more information contact me
http://www.es-insurance.com/
Thursday, June 30, 2011
No always the "cheap insurance" is the Best!
Every day I have clients that claim they are paying really low premiums for their insurances, and sometimes it becomes very suspicious to me. Since, I am an independent Insurance agent I could check prices and compare rates for any kind of insurance from not only one company but several: therefore, when I find a client with a policy paying half on a policy of what I can find for him always make me questions how this could be possible.
This is something I found in Business Journal
Three insurance agency employees have been arrested in Florida for allegedly stealing thousands of dollars in auto premiums.
Bella Jenkins, Torrance Blake and David Bell, who were employees of the Temple Terrace-based Insurance Plus, were charged with committing insurance fraud and selling insurance without a license, according to Florida Chief Financial Officer Jeff Atwater.
The state’s Division of Insurance Fraud said it began its investigation of Insurance Plus in August 2010 after receiving complaints that customers were given automobile insurance coverage quotes by phone only to have the price for the coverage inflated by the time of the purchase. Officials said customers paid the additional money and left the agency believing that they had insurance coverage with either Kingsway Amigo or Security National Insurance.
The customers later learned they had no coverage when pulled over for traffic violations or by receiving notices from the Florida Department of Highway Safety and Motor Vehicles advising them they needed to purchase coverage in order to comply with the law. The victims stated that the owner of the business, Bella Jenkins, a licensed insurance agent, was not present when they went to Insurance Plus, but that Ball and Blake both conducted business despite having no license, officials said.
If convicted, each of the suspects face up to five years in prison per charge.
Contact me for more information
This is something I found in Business Journal
Three insurance agency employees have been arrested in Florida for allegedly stealing thousands of dollars in auto premiums.
Bella Jenkins, Torrance Blake and David Bell, who were employees of the Temple Terrace-based Insurance Plus, were charged with committing insurance fraud and selling insurance without a license, according to Florida Chief Financial Officer Jeff Atwater.
The state’s Division of Insurance Fraud said it began its investigation of Insurance Plus in August 2010 after receiving complaints that customers were given automobile insurance coverage quotes by phone only to have the price for the coverage inflated by the time of the purchase. Officials said customers paid the additional money and left the agency believing that they had insurance coverage with either Kingsway Amigo or Security National Insurance.
The customers later learned they had no coverage when pulled over for traffic violations or by receiving notices from the Florida Department of Highway Safety and Motor Vehicles advising them they needed to purchase coverage in order to comply with the law. The victims stated that the owner of the business, Bella Jenkins, a licensed insurance agent, was not present when they went to Insurance Plus, but that Ball and Blake both conducted business despite having no license, officials said.
If convicted, each of the suspects face up to five years in prison per charge.
Remember not always the cheap insurance is the best! Sometimes is not even real.
Contact me for more information
www.es-insurance.com
Tuesday, June 28, 2011
Flooding Damages Thousands of North Dakota Homes
The Souris River crested nearly 2 feet lower than expected in Minot, N.D., where city officials hoped to ride out the high water without losing more than the thousands of homes already damaged by flooding.
The river had been expected to peak at some 8.5 feet (2.6 meters) above major flood stage, but it appeared to level off as it approached 6.5 feet (2 meters) over that mark.
Damage was already widespread, with Mayor Curt Zimbelman reporting more than 4,000 homes had been flooded in an evacuation zone of neighborhoods nearest the river. About 11,000 people had been ordered to evacuate.
Sgt. 1st Class David Dodds, a spokesman for North Dakota’s National Guard, said the situation had “kind of stabilized” on June 25. The Souris’ channel wasn’t getting any wider.
“The fact that more homes aren’t being engulfed or being touched by the water, that’s the one silver lining if you can even say there is one,” Dodds said.
City spokesman Dean Lenertz said updated estimates of the flood’s toll were being prepared. The city’s water, sewer and electric power systems were still working. Workers labored to keep the Broadway Bridge, a major north-south thoroughfare, from being overwhelmed, a possibility that would divide the city in half.
Zimbelman and others had fretted about rain in the forecast, but the National Weather Service said the storms didn’t appear to be widespread or long-lasting.
Fed by heavy rains upstream and dam releases that have accelerated in recent days, the Souris surged past a 130-year-old record on June 24 and kept going.
The Federal Emergency Management Agency pledged assistance to flood victims in Burleigh and Ward counties, which include Minot and Bismarck, the state capital, which has been damaged by Missouri River flooding.
In nearby Burlington, more than half of the town’s 1,000 residents left late this week to escape the Souris. Sawyer, a town of about 350 people, was under a mandatory evacuation order Saturday after the Souris flowed over the main dike around daybreak. National Guard soldiers worked on a secondary levee.
The National Guard activated 870 members for the crisis. Minot is best known as home to an Air Force base responsible for 150 Minuteman III missiles in underground launch silos scattered over 8,500 square miles (22,000 square kilometers) in northwest North Dakota.
Col. S.L. Davis, commander of the 91st Missile Wing, said there was some “localized flooding” at a handful of missiles sites because of the wet spring and summer. But he said the silos are designed to safely handle some water and protective measures were taken at a few sites similar to what’s done in preparation for spring runoff from snowmelt.
Do not let the storm get you without flood Insurance!
Contact me for a quote or more information
http://www.es-insurance.com/
The river had been expected to peak at some 8.5 feet (2.6 meters) above major flood stage, but it appeared to level off as it approached 6.5 feet (2 meters) over that mark.
Damage was already widespread, with Mayor Curt Zimbelman reporting more than 4,000 homes had been flooded in an evacuation zone of neighborhoods nearest the river. About 11,000 people had been ordered to evacuate.
Sgt. 1st Class David Dodds, a spokesman for North Dakota’s National Guard, said the situation had “kind of stabilized” on June 25. The Souris’ channel wasn’t getting any wider.
“The fact that more homes aren’t being engulfed or being touched by the water, that’s the one silver lining if you can even say there is one,” Dodds said.
City spokesman Dean Lenertz said updated estimates of the flood’s toll were being prepared. The city’s water, sewer and electric power systems were still working. Workers labored to keep the Broadway Bridge, a major north-south thoroughfare, from being overwhelmed, a possibility that would divide the city in half.
Zimbelman and others had fretted about rain in the forecast, but the National Weather Service said the storms didn’t appear to be widespread or long-lasting.
Fed by heavy rains upstream and dam releases that have accelerated in recent days, the Souris surged past a 130-year-old record on June 24 and kept going.
The Federal Emergency Management Agency pledged assistance to flood victims in Burleigh and Ward counties, which include Minot and Bismarck, the state capital, which has been damaged by Missouri River flooding.
In nearby Burlington, more than half of the town’s 1,000 residents left late this week to escape the Souris. Sawyer, a town of about 350 people, was under a mandatory evacuation order Saturday after the Souris flowed over the main dike around daybreak. National Guard soldiers worked on a secondary levee.
The National Guard activated 870 members for the crisis. Minot is best known as home to an Air Force base responsible for 150 Minuteman III missiles in underground launch silos scattered over 8,500 square miles (22,000 square kilometers) in northwest North Dakota.
Col. S.L. Davis, commander of the 91st Missile Wing, said there was some “localized flooding” at a handful of missiles sites because of the wet spring and summer. But he said the silos are designed to safely handle some water and protective measures were taken at a few sites similar to what’s done in preparation for spring runoff from snowmelt.
Do not let the storm get you without flood Insurance!
Contact me for a quote or more information
http://www.es-insurance.com/
Allstate Seeks Double-Digit Home Insurance Hikes in Florida
Two subsidiaries of Allstate Insurance Company Florida are seeking homeowners rate increases worth more than $90 million.
Castle Key Indemnity Co. is seeking a 36 percent statewide average rate increase and Castle Key Insurance Co. is seeking a 31 percent rate hike. The two companies formerly made up Allstate Floridian Insurance Co.
In 2010, the Florida Office of Insurance Regulation approved an average 18.7 percent rate hike for Castle Key and 17.8 percent rate for Castle Key Indemnity.
This is one of the main reasons I decided to have an independent agency!!
Please contact me with any questions or comments.
http://www.es-insurance.com/
Castle Key Indemnity Co. is seeking a 36 percent statewide average rate increase and Castle Key Insurance Co. is seeking a 31 percent rate hike. The two companies formerly made up Allstate Floridian Insurance Co.
In 2010, the Florida Office of Insurance Regulation approved an average 18.7 percent rate hike for Castle Key and 17.8 percent rate for Castle Key Indemnity.
This is one of the main reasons I decided to have an independent agency!!
Please contact me with any questions or comments.
http://www.es-insurance.com/
Tuesday, May 10, 2011
Florida Approves Property Insurance Reform
Homeowners’ insurers in Florida are breathing a sigh of relief after succeeding in a months-long battle to obtain property insurance reforms designed to reduce costs and stabilize the market.
After watching state lawmakers refuse to rewrite the state’s no-fault automobile injury law and leave by the wayside a plan to revamp the state-run property insurer Citizens Property Insurance Corp., the industry found itself in the last week of the session betting all of its chips on the property bill, hoping that the “most business friendly” legislature in decades would finally deliver.
In the closing days of Florida’s legislative session, lawmakers approved CS/SB 408, which includes provisions limiting sinkhole losses along with provisions changing the holdback provisions on dwelling and contents coverage, placing a statute-of-limitations on sinkhole and hurricane claims, capping public adjusters’ compensation, and repealing a provision that would have reduced the boundaries of Citizens’ high-risk zones.
While the memory of former Governor Charles Crist’s veto of a similar albeit smaller bill last year still hangs in the hair, insurers are nonetheless banking on current Governor Rick Scott signing the bill into law. So far Scott has remained mum on the issue, but Insurance Commissioner Kevin McCarty has publicly made it clear that he expects the bill will become law.
Iy you want more details on this.
Please contact me
www.es-insurance.com
After watching state lawmakers refuse to rewrite the state’s no-fault automobile injury law and leave by the wayside a plan to revamp the state-run property insurer Citizens Property Insurance Corp., the industry found itself in the last week of the session betting all of its chips on the property bill, hoping that the “most business friendly” legislature in decades would finally deliver.
In the closing days of Florida’s legislative session, lawmakers approved CS/SB 408, which includes provisions limiting sinkhole losses along with provisions changing the holdback provisions on dwelling and contents coverage, placing a statute-of-limitations on sinkhole and hurricane claims, capping public adjusters’ compensation, and repealing a provision that would have reduced the boundaries of Citizens’ high-risk zones.
While the memory of former Governor Charles Crist’s veto of a similar albeit smaller bill last year still hangs in the hair, insurers are nonetheless banking on current Governor Rick Scott signing the bill into law. So far Scott has remained mum on the issue, but Insurance Commissioner Kevin McCarty has publicly made it clear that he expects the bill will become law.
Iy you want more details on this.
Please contact me
www.es-insurance.com
Thursday, April 28, 2011
All Food Stays in SW Florida
E&S Insurance is putting a team together for:
ROTARY ONE MILLION MEAL PACKING EVENT
With Meals of Hope Kids against Hunger of SW Florida
May 14 at 8:30 am in Naples high school
We will provide breakfast for the team
If you want to help let me know!
Tuesday, March 29, 2011
Why do I have to add my son to my insurance if he does not own a car?
When your son becomes licensed most insurance companies will require you to place him on your auto insurance policy as a driver since he will likely drive your vehicle and thus require coverage.
The Florida Office of Insurance Regulations backs up this idea. Here it says young drivers must comply with the state's financial responsibility laws, just as older drivers do. Most young drivers, however, have the option of satisfying their legal requirements by being added to their parents' auto policy. Adding a young driver to a parents' policy can be expensive, but it's cheaper than taking out a separate auto policy.
A parents' policy covers children living at home or away at school, even when not named on the policy. Even though children are automatically covered on their parents' policy, it's important that they be listed on the policy as soon as they reach driving age. Insurance companies are required to charge the correct rate, based on the classifications of the drivers in your family. If you do not have all of the drivers in your family listed on your policy and the company learns about them later - because of an accident claim, for instance - the company will bill you for the extra premium you should have paid.
While a friend may occasionally borrow your car and be covered they do not normally have regular access to your car and thus are not rated as a risk factor on your policy. If you do have someone outside of the household that regularly drives your car then normally an insurance carrier would also want this person listed an occasional driver so they would be properly covered in an accident.
Also not all policies provide coverage to anyone that drives the car. Policies can have driver exclusions. These exclusions can include those under a certain age (under 21 or 25 for instance), unlicensed drivers and those driving under the influence to name a few.
Insurance providers thus require you add your teen since he or she lives in your household and is a risk factor to them. Most all state laws permit an insurer to consider all resident operators of an insured vehicle in rating of an auto insurance policy. This includes your child, even if he or she has only a learner's permit and especially when they have a full driver's license.
Insurance companies are usually allowed to use classifications that reflect a possible exposure for liability on the part of the insurer, in the event that bodily injury or property damage occurs due to the operation of the vehicle by anyone in your household, including your child.
Many parents would like to avoid the rate increase from adding their licensed teenager to their auto insurance policy however if you do not inform your insurance provider of your child's licensing status and he or she is in an accident, the incident may not be covered. In some states an insurer may be allowed to cover the accident but then charge you for the premiums you should have paid up to that time for the teen to be on the policy.
Also in some states purposely not reporting your licensed driver to your insurance carrier and have him or her added as a driver can be construed as misrepresentation, a form of insurance fraud.
Teen drivers are expensive to insure since they are inexperience and often immature drivers that statistics have shown are more apt to be in accidents. There are ways in which to help bring down the rate increase from adding a teen to your insurance policy. You can ask your agent about discounts for your child getting good grades (a good student discount), taking a driver's education or driver's improvement class, and any other discounts that your specific insurer has available for you to take advantage of such as a multi-car discount.
If you need to add a teenager licensed driver to your car insurance policy then you may want to shop around at this time to make sure you and your family are getting the best rates possible.
For more information or for a free quote
Contact me
http://www.es-insurance.com/
The Florida Office of Insurance Regulations backs up this idea. Here it says young drivers must comply with the state's financial responsibility laws, just as older drivers do. Most young drivers, however, have the option of satisfying their legal requirements by being added to their parents' auto policy. Adding a young driver to a parents' policy can be expensive, but it's cheaper than taking out a separate auto policy.
A parents' policy covers children living at home or away at school, even when not named on the policy. Even though children are automatically covered on their parents' policy, it's important that they be listed on the policy as soon as they reach driving age. Insurance companies are required to charge the correct rate, based on the classifications of the drivers in your family. If you do not have all of the drivers in your family listed on your policy and the company learns about them later - because of an accident claim, for instance - the company will bill you for the extra premium you should have paid.
While a friend may occasionally borrow your car and be covered they do not normally have regular access to your car and thus are not rated as a risk factor on your policy. If you do have someone outside of the household that regularly drives your car then normally an insurance carrier would also want this person listed an occasional driver so they would be properly covered in an accident.
Also not all policies provide coverage to anyone that drives the car. Policies can have driver exclusions. These exclusions can include those under a certain age (under 21 or 25 for instance), unlicensed drivers and those driving under the influence to name a few.
Insurance providers thus require you add your teen since he or she lives in your household and is a risk factor to them. Most all state laws permit an insurer to consider all resident operators of an insured vehicle in rating of an auto insurance policy. This includes your child, even if he or she has only a learner's permit and especially when they have a full driver's license.
Insurance companies are usually allowed to use classifications that reflect a possible exposure for liability on the part of the insurer, in the event that bodily injury or property damage occurs due to the operation of the vehicle by anyone in your household, including your child.
Many parents would like to avoid the rate increase from adding their licensed teenager to their auto insurance policy however if you do not inform your insurance provider of your child's licensing status and he or she is in an accident, the incident may not be covered. In some states an insurer may be allowed to cover the accident but then charge you for the premiums you should have paid up to that time for the teen to be on the policy.
Also in some states purposely not reporting your licensed driver to your insurance carrier and have him or her added as a driver can be construed as misrepresentation, a form of insurance fraud.
Teen drivers are expensive to insure since they are inexperience and often immature drivers that statistics have shown are more apt to be in accidents. There are ways in which to help bring down the rate increase from adding a teen to your insurance policy. You can ask your agent about discounts for your child getting good grades (a good student discount), taking a driver's education or driver's improvement class, and any other discounts that your specific insurer has available for you to take advantage of such as a multi-car discount.
If you need to add a teenager licensed driver to your car insurance policy then you may want to shop around at this time to make sure you and your family are getting the best rates possible.
For more information or for a free quote
Contact me
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Monday, March 28, 2011
Florida Homeowners Insurers Seek ‘Flex-Rating’ Up to 15%
The Florida Senate and Banking Insurance Committee recently approved a bill that would give homeowners insurers some latitude, allowing them to raise their rates without first getting approval from the state insurance department. The bill would let insurers increase their rates by a statewide average 15 percent above their current rate. The bill caps increases on individually policyholders so that their rates are no higher than twice the statewide average.
The role of the Office of Insurance Regulation (OIR) would be limited to reviewing the rates to see if they are inadequate or discriminatory.
Under current law, every property insurer in the state must make an annual rate filing with the OIR, which may either approve or disapprove the rates to ensure that they are not excessive, inadequate or unfairly discriminatory. Although lawmakers in recent years have streamlined the process, it can still take months to resolve the filings, especially if they are disputed.
In cases like this is when you need an independent insurance agency like E&S Insurance. We will always look for the best price for our clients.
For more information contact me.
http://www.es-insurance.com/
The role of the Office of Insurance Regulation (OIR) would be limited to reviewing the rates to see if they are inadequate or discriminatory.
Under current law, every property insurer in the state must make an annual rate filing with the OIR, which may either approve or disapprove the rates to ensure that they are not excessive, inadequate or unfairly discriminatory. Although lawmakers in recent years have streamlined the process, it can still take months to resolve the filings, especially if they are disputed.
In cases like this is when you need an independent insurance agency like E&S Insurance. We will always look for the best price for our clients.
For more information contact me.
http://www.es-insurance.com/
Thursday, March 24, 2011
Florida Lawmakers Take Two-Pronged Approach to Insurance Reform
Tort reform and fraud have become the two big targets as Florida lawmakers are finally gearing up to tackle the state’s no-fault auto insurance law.
Taking a divide and conquer approach, the House Insurance and Banking Subcommittee has approved a bill that seeks to rein-in medical and litigation costs, while two other lawmakers have unveiled a bill designed to crack down on fraud.
Do you want more information?
contact me!
http://www.es-insurance.com/
Taking a divide and conquer approach, the House Insurance and Banking Subcommittee has approved a bill that seeks to rein-in medical and litigation costs, while two other lawmakers have unveiled a bill designed to crack down on fraud.
Do you want more information?
contact me!
http://www.es-insurance.com/
Tuesday, February 15, 2011
The best response is a planned one.
Emergencies come in many forms and often without much warning. Whether you’re faced with a hurricane, wildfire or some other threat, advance planning can make all the difference.
Don’t be surprised.
Be prepared.
Ten steps to keep you, your family and home safe and sound:
2. Know your community’s severe weather warning system and follow news reports closely.
3. Identify escape routes from your home and neighborhood.
4. Research the evacuation plans for your workplace and children’s schools.
5. Designate an emergency meeting place for your family.
6. Decide in advance where you and your pets can take shelter if necessary.
7. Establish a contact point to communicate with concerned relatives.
8. Take video and photographs of your home inside and out, recording upgrades and valuables.
9. Have drinking water and an emergency kit stocked and ready to go.
10. Fill your bathtub with water that can be used for flushing toilets or washing.
Feel free to contact me.Visit our web
http://www.es-insurance.com/
Thursday, January 27, 2011
Soultions, Service, Stability!
E&S Insurance offers a full range of Homeowners and dwelling fire insurance solutions. Call on of our agents or contact me directly. We are are ready to assist you in selecting your individualized coverage.
feel free to contact me
http://www.es-insurance.com/
feel free to contact me
http://www.es-insurance.com/
Wednesday, January 19, 2011
Something I found In Insurance Journal
Something I found In Insurance Journal.
Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (at bottom of the page– don’t cheat!) were developed based on news stories published by InsuranceJournal.com in 2010. Good luck!
1. During the year, Congress let the National Flood Insurance Program lapse several times. The last vote extends the NFIP until when?- Jan. 31, 2011
- Sept. 30, 2011
- Dec. 31, 2013
- Sept. 30, 2012
- Florida
- Texas
- New York
- California
- $100 billion
- $50 billion
- $25 billion
- $0
- Ralph Hudgens
- John Oxendine
- Wayne Goodwin
- Kevin McCarty
- Aon
- Marsh
- Willis
- All of the above
- Michigan Insurance Co.
- Fremont Michigan InsuraCorp.
- Northern Mutual Insurance Co.
- Allstate
- Liberty Mutual
- AIG
- ISO
- 2
- 3
- 4
- 5
- True
- False
- Mike Villines
- Dave Jones
- Steve Poizner
- Jerry Brown
- $20 billion
- $100 billion
- $75 billion
- $200 million
- More than $10 billion
- More than $20 billion
- More than $30 billion
- More than $40 billion
- Fires
- Hurricanes
- Sinkholes
- All of the above
- Harleysville Insurance
- Chubb Insurance
- Markel Insurance
- Willis
- $10 Million
- $1.5 Billion
- $725 Million
- 110
- 101
- 98
- 103
- True
- False
- Louisiana
- Oklahoma
- Arkansas
- State Farm
- Allstate
- Progressive
- Travelers
- Washington
- Oregon
- Arizona
- California
- $60,000
- $6,000
- $600
- $60
- The law constitutional
- The law is unconstitutional
- The law is constitutional but the amounts are too low
- The question is a political one for the Legislature, not the courts, to decide.
- Vinyl flooring
- Chinese manufactured drywall
- High VOC paint
- Italy
- Indonesia
- Georgia
- Iceland
- True
- False
Best Affirms Progressive and Subs ‘A+’ Rating
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the Progressive Agency Pool, Progressive Direct Pool and Progressive Commercial Auto Group (collectively known as Progressive) and their respective members.
Best also affirmed the FSR of ‘A’ (Excellent) and ICR of “a+” of National Continental Insurance Company, as well as the ICR of “a” and all debt ratings of the parent holding company, The Progressive Corporation.
The outlook for all of the ratings is stable. All the companies are headquartered in Mayfield Village, Ohio.
The ratings reflect Progressive’s “solid capitalization, strong operating performance and sustainable competitive advantages,” said Best. “Progressive’s capitalization has benefitted from sustained underwriting profitability and a rebound in its investment portfolio since 2008.
“Progressive continues to benefit from an innovative management team, brand name recognition, a multiple channel distribution platform and innovative underwriting and claims handling technology. In addition, Progressive’s direct operations have exhibited favorable growth, reflective of improved brand recognition.
To get a free quote with Progressive or for more information.
please visit us on the web
http://www.es-insurance.com/
Best also affirmed the FSR of ‘A’ (Excellent) and ICR of “a+” of National Continental Insurance Company, as well as the ICR of “a” and all debt ratings of the parent holding company, The Progressive Corporation.
The outlook for all of the ratings is stable. All the companies are headquartered in Mayfield Village, Ohio.
The ratings reflect Progressive’s “solid capitalization, strong operating performance and sustainable competitive advantages,” said Best. “Progressive’s capitalization has benefitted from sustained underwriting profitability and a rebound in its investment portfolio since 2008.
“Progressive continues to benefit from an innovative management team, brand name recognition, a multiple channel distribution platform and innovative underwriting and claims handling technology. In addition, Progressive’s direct operations have exhibited favorable growth, reflective of improved brand recognition.
To get a free quote with Progressive or for more information.
please visit us on the web
http://www.es-insurance.com/
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