It’s a little late to comment on the appointment of Robin Westcott to the post of Insurance Consumer Advocate, but…I thought I could share some historical perspective, point out the hypocrisy of those who criticize the appointment and congratulate Ms. Westcott all at the same time. [Read more…] about CONSUMER ADVOCATE..Right Person, Right Time!
The OIR just announced a “re-launch” of its homeowners rate comparison website penned CHOICES; for, Consumer Home Owners Insurance Comparison Electronic System. Like its predecessor, “Shop & Compare”, CHOICES displays premiums by county for “selected” companies including Citizens, then; ranks them from lowest to highest. Also, like its predecessor, CHOICES may cause even more shoppers to ask “where are my choices?” Or worse…”Why is Citizens my only choice?” [Read more…] about “CHOICES”… new site, old problems.
It may have happened before but, I wasn’t in the room. During a televised OIR rate hearing this week, a major Florida homeowners carrier was criticized for, get ready…requesting too little of an increase! Yep, it’s true. And guess who was doing the criticizing? [Read more…] about CASTLE KEY RATE HEARING–Gotta be a First!
I received many reply’s to my last blog regarding SB-408’s impact on public adjusters (Pop Some Bubbly?). Most could not be published but, I did allow several that were critical of both my motives and manhood to appear, along with my responses. [Read more…] about Public Adjusters & SB-408–Blog Responses
It’s hardly a secret the insurance industry would prefer having no Public Adjusters (PA’s) or certainly, having far fewer of them. Despite disappointment by some about this years’ bill (SB-408) with respect to PA’s generally, I think there’ll be cause to pop some bubbly in the not-too-distant future. [Read more…] about Public Adjusters & SB-408–Pop Some Bubbly?
Okay, I’m gonna go out on a limb here. I don’t understand what’s going on with this “new” (so called) idea of privatizing Citizens. Nor do I think those proposing it understand what they’re proposing. [Read more…] about CITIZENS PRIVATIZATION–Is It Possible?
I was reminded of the difference between last year’s legislative accomplishments and what’s likely to be accomplished in 2012 when OIR recently published its summary of the 2011 insurance bills. You may want to check it out, as it not only covers “all” insurance bills, property and otherwise but, also contains a brief explanation from Kevin McCarty on why his office endorsed SB-408. [Read more…] about Sessions ’11 & ’12–Like Night and Day
SB-408 contained language intended to limit sinkhole losses by “clarifying” legislative intent with respect to the term “structural damage”. Known to most in the industry is that structural damage was being alleged with most any visible damage–cracks, discoloration, crevices, windows that were difficult to close, minor stucco damage, settlement and so forth.
Last week I participated in a panel discussion sponsored by the Sarasota/Bradenton local agents association(s) and attended by nearly 200 insurance-philes, vendors and clients. It was a free for all discussion on what’s wrong with Florida’s property market and how to fix it. [Read more…] about A COMPETITIVE CITIZENS–IT’S TIME FOR A LITTLE PAIN!
This post provides insights and opinions gleaned from yesterday’s “unique” rate hearing for Hartford Insurance of the Midwest. It sheds light on issues not discussed at the hearing or, perhaps, even technically relevant to the rate request. These discussions were brought to mind by the expressed need for the request and the rationale given by the Insurance Consumer Advocates office (ICA) for recommending the denial of the request. It was also noteworthy that there was no mention, in Steve Alexander’s presentation (ICA actuary) or elsewhere, of MGA fees or agents’ commissions. [Read more…] about Consumer Advocate Recommends Denial of Hartford’s Rate…Wait Till You Hear Why!