Florida Insurance Crisis http://www.floridainsurancecrisis.com Keeping Floridians Up to Date on our Insurance Crisis and how our politicians are working to solve it. Tue, 22 Apr 2008 21:05:05 +0000 http://wordpress.org/?v=2.3.3 en Looking for a Great Homeowners Rate http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/275668460/ http://www.floridainsurancecrisis.com/2008/04/22/looking-for-a-great-homeowners-rate/#comments Tue, 22 Apr 2008 21:05:05 +0000 rob http://www.floridainsurancecrisis.com/2008/04/22/looking-for-a-great-homeowners-rate/ Check out this offer from Quote Wizard.

Simply form to apply.

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]]> http://www.floridainsurancecrisis.com/2008/04/22/looking-for-a-great-homeowners-rate/feed/ http://www.floridainsurancecrisis.com/2008/04/22/looking-for-a-great-homeowners-rate/ Florida gets and F in insurance reform http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/234095355/ http://www.floridainsurancecrisis.com/2008/02/12/florida-gets-and-f-in-insurance-reform/#comments Wed, 13 Feb 2008 02:25:52 +0000 rob http://www.floridainsurancecrisis.com/2008/02/12/florida-gets-and-f-in-insurance-reform/ According to a study conducted in collaboration with the James Madison Institute, the Competitive Enterprise Institute and Heartland Institute, Florida gets an ‘F’ grade on a national insurance report card based on a study outlining the state’s insurance ills.

The state earned the dismal rating – the lowest possible – after a national study compared the insurance environments in all 50 states and the District of Columbia. Only four other states fared as bad.

Fla. Rep. Dennis Ross, R-Lakeland, and Fla. Rep. Don Brown, R-DeFuniak Springs, fittingly unveiled the report card midday on Monday in Tallahassee while Florida senators grilled insurance executives in another wing of the capitol complex.

Read More about this article here.

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]]> http://www.floridainsurancecrisis.com/2008/02/12/florida-gets-and-f-in-insurance-reform/feed/ http://www.floridainsurancecrisis.com/2008/02/12/florida-gets-and-f-in-insurance-reform/ Finally…Action. http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/218502865/ http://www.floridainsurancecrisis.com/2008/01/17/finallyaction/#comments Thu, 17 Jan 2008 22:55:17 +0000 rob http://www.floridainsurancecrisis.com/2008/01/17/finallyaction/ A day after he threatened to block Allstate from selling auto insurance in the state of Florida, Insurance Commissioner Kevin McCarty ordered Allstate to stop selling all insurance policies in Florida.

Allstate had not immediate reaction but is expected to go to court to try and overturn this ban.

The suspension affects only new policies by the state’s second-largest auto insurance group, including Encompass and Allstate Floridian. Those with current home and auto policies are not affected. Neither are renewals of existing policies. Allstate has 2 million customers in Florida.

The order is in retaliation for Allstate’s refusal to turn over records subpoenaed by McCarty’s Office of Insurance Regulation. The investigation began as an inquiry into whether Allstate and other insurers conspired to pump up hurricane rates in Florida despite legislation intended to bring homeowners relief.

McCarty also wants Allstate to turn over what’s called the McKinsey Report, a consultant’s report from 1992 that suggested Allstate use a computer system called Colossus to generate auto injury claims payments based not on losses but on profit goals.

To date, Allstate has refused to release the records, including to a Missouri judge who has imposed a $25,000-a-day fine against the company.

It is about time that someone in Florida Government took steps to stop the insurance companies improper actions against Florida residents. Keep up the good work Mr. McCarty.

About Mr. McCarty: Three years into his tenure as Florida’s first appointed insurance commissioner, Kevin McCarty has cemented his reputation as an innovator utilizing technology to improve the regulatory process, as a fierce defender of seniors and historically discriminated minorities, and as a national leader who is forging a coalition to implement a national catastrophe strategy.

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]]> http://www.floridainsurancecrisis.com/2008/01/17/finallyaction/feed/ http://www.floridainsurancecrisis.com/2008/01/17/finallyaction/ 3.4 Billion in Profit http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/216424785/ http://www.floridainsurancecrisis.com/2008/01/14/34-billion-in-profit/#comments Mon, 14 Jan 2008 13:24:50 +0000 rob http://www.floridainsurancecrisis.com/2008/01/14/34-billion-in-profit/ That is correct. The Insurance companies earned a record 3.4 billion in profit in the state of Florida last year, and yet they are still canceling policies and asking for rate increases.

As usual, just like gas, and power, and other industries, insurance is quick to raise the rates but it takes months, sometimes years, to see it come back down when the economic indicators say it should.

Because of this a special Senate panel threatened Thursday to subpoena leading insurance industry executives to explain why some Florida consumers have not seen savings on their property insurance bills. The lawmakers are frustrated at the delay in getting savings back to the state’s consumers.

‘It’s time for the fork to meet the grits,’ said Sen. Bill Posey, the Rockledge Republican who chairs the Senate Banking and Insurance Committee. ‘We need to make sure this stuff is rolled back as far as it needs to be.’

Posey spoke at a news conference announcing the special Senate panel that will include half of the Senate’s 40 members. It will be co-chaired by Sens. Jeff Atwater, R-North Palm Beach, and Steve Geller, D-Cooper City. Lawmakers said they intended to put industry executives under oath during testimony before the panel.

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]]> http://www.floridainsurancecrisis.com/2008/01/14/34-billion-in-profit/feed/ http://www.floridainsurancecrisis.com/2008/01/14/34-billion-in-profit/ Rudy talks Insurance in Florida http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/216121840/ http://www.floridainsurancecrisis.com/2008/01/13/rudy-talks-insurance-in-florida/#comments Sun, 13 Jan 2008 22:50:27 +0000 rob http://www.floridainsurancecrisis.com/2008/01/13/rudy-talks-insurance-in-florida/ Republican presidential candidate Rudy Giuliani said Saturday that his experience as New York City’s mayor during the Sept. 11, 2001, terrorist attacks is a big reason why he supports a national insurance backup fund.

“Maybe I feel more strongly about this because of what I went through as mayor. I don’t even know how to describe Sept. 11. I don’t know if catastrophe is even the right word,” Giuliani said. “There’s no possible way we could have gotten through that alone. No possible way.”

A national catastrophe fund is a top federal priority for Gov. Charlie Crist and two Democratic congressmen from Florida, Ron Klein and Tim Mahoney, have a bill that passed the House which would create a the backup fund in hopes of making property insurance more affordable and accessible.

“I more than most realize how important it was to us to have federal help, federal backup,” Giuliani said during a town hall meeting at a senior center. “Look, it’s going to be there because of the kind of people we are. We might as well try to organize it in a sensible way.”

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]]> http://www.floridainsurancecrisis.com/2008/01/13/rudy-talks-insurance-in-florida/feed/ http://www.floridainsurancecrisis.com/2008/01/13/rudy-talks-insurance-in-florida/ Alex Sink Already Fighting for the Florida Citizens http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/57497169/ http://www.floridainsurancecrisis.com/2006/12/05/alex-sink-already-fighting-for-the-florida-citizens/#comments Tue, 05 Dec 2006 17:48:53 +0000 rob http://www.floridainsurancecrisis.com/2006/12/05/alex-sink-already-fighting-for-the-florida-citizens/ CFO-elect Alex Sink gave the first glimpse of her own insurance agenda at a House conference this morning.

The banking executive drew applause from the room of representatives by suggesting insurance companies need to state up front what they’ll give back to consumers in exchange for their own demands.

“We can’t keep giving favors to insurance companies and have them stick our nose in it 10 days after the bill is passed,” Sink said, referring to State Farms’ rate hike filing on the heels of favorable insurance reform legislation last spring.

“It can’t be a one-way street any longer.”

The entire article can be read at Florida Today.

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]]> http://www.floridainsurancecrisis.com/2006/12/05/alex-sink-already-fighting-for-the-florida-citizens/feed/ http://www.floridainsurancecrisis.com/2006/12/05/alex-sink-already-fighting-for-the-florida-citizens/ Ok Charlie, we Still Have a Insurance Crisis http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/47623026/ http://www.floridainsurancecrisis.com/2006/11/10/ok-charlie-we-still-have-a-insurance-crisis/#comments Fri, 10 Nov 2006 18:41:39 +0000 rob http://www.floridainsurancecrisis.com/2006/11/10/ok-charlie-we-still-have-a-insurance-crisis/ Congratulations Governor Elect. Now get to work.

Crist defers to Bush on insurance. The governor-elect said that he won’t meddle in a special session that is expected before he takes office. In his first appearance after defeating Jim Davis to become the next governor, Crist told reporters and supporters Wednesday that he will defer to Gov. Jeb Bush on policy matters until the Jan. 2 inauguration - including on Bush’s plan to have lawmakers return next month to address Florida’s crumbling insurance market.

So will that then give you an excuse once you do take office Charlie? Shouldn’t you be involved in the special session so that nothing gets done that will affect or hamper your plan for the insurance crisis that you campaigned on?

Get in there and get your hands dirty Governor Elect Crist, I think you probably will not a head start on this crisis.

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]]> http://www.floridainsurancecrisis.com/2006/11/10/ok-charlie-we-still-have-a-insurance-crisis/feed/ http://www.floridainsurancecrisis.com/2006/11/10/ok-charlie-we-still-have-a-insurance-crisis/ Today is the Day http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/46186134/ http://www.floridainsurancecrisis.com/2006/11/07/today-is-the-day/#comments Tue, 07 Nov 2006 12:49:45 +0000 rob http://www.floridainsurancecrisis.com/2006/11/07/today-is-the-day/ If you are really concerned about your insurance costs and coverage, remember today is the day to get out. Vote for Jim Davis for governor and Alex Sink for CFO. Those two will do the most to lower your insurance costs and provide better services in the state.

Have a happy election day.

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]]> http://www.floridainsurancecrisis.com/2006/11/07/today-is-the-day/feed/ http://www.floridainsurancecrisis.com/2006/11/07/today-is-the-day/ Posey Will Lead the Charge for Insurance Committee in the Senate http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/44595445/ http://www.floridainsurancecrisis.com/2006/11/03/posey-will-lead-the-charge-for-insurance-committee-in-the-senate/#comments Fri, 03 Nov 2006 13:06:07 +0000 rob http://www.floridainsurancecrisis.com/2006/11/03/posey-will-lead-the-charge-for-insurance-committee-in-the-senate/ Brevard County lawmaker Bill Posey will lead the Senate’s insurance committee in the new leadership team when the Legislature comes back to tackle Florida’s insurance crisis.

Posey is faced with what he calls a “seemingly impossible” situation. Property insurance, if it’s available at all, is nearly unaffordable for many home and business owners.

“I don’t look forward to this,” he admits. “But you do the best you can.” Not necessarily confidence inspiring words if I have to say so myself.

Posey says he knows the property insurance problem will be contentious.

“There will be a lot of people screaming before this is over, and I’ll need a bodyguard.”

Do it right Mr. Posey and you will have millions of Florida homeowners willing to protect you.

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]]> http://www.floridainsurancecrisis.com/2006/11/03/posey-will-lead-the-charge-for-insurance-committee-in-the-senate/feed/ http://www.floridainsurancecrisis.com/2006/11/03/posey-will-lead-the-charge-for-insurance-committee-in-the-senate/ Regulators Reject USAA Rate Hike Request http://feeds.feedburner.com/~r/FloridaInsuranceCrisis/~3/44445490/ http://www.floridainsurancecrisis.com/2006/11/02/regulators-reject-usaa-rate-hike-request/#comments Fri, 03 Nov 2006 03:11:43 +0000 rob http://www.floridainsurancecrisis.com/2006/11/02/regulators-reject-usaa-rate-hike-request/

USAA’s 200,000 Florida residential insurance policyholders won’t get hit with a rate increase as high as the company wanted after state regulators rejected its request for an average statewide hike of 40 percent.

The Office of Insurance Regulation’s denial said the company failed to provide enough evidence to support the losses it said it could expect and didn’t justify the profits it was seeking.

“During the public hearing we heard from many policyholders whose household budgets are extremely strained by rising property insurance premiums,” said Insurance Commissioner Kevin McCarty, in a statement. “If we are asked to approve even higher rates, we must demand that the request is fully justified, and that is just not the case with this filing.

The question to ask at this point is where were these regulators for the past 3 or more years. Is the Governor putting pressure on the OIR to not allow increases so that the Republicans campaigning will have a better chance? We will have to see if there are any request after the election and see the results.

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