In an editorial published by the Orlando Sentinel at least one lawmaker gets it right describing the discounted rates paid by some policyholders insured in Citizens. He gets it even more right complaining about Citizens recent rate increase of 7.7% when the law was intended to authorize 10%. (See NOTE #1 below) [Read more…] about Citizens Rates–a Matter of Fairness!
ICA’s Workshop…Referral Fee’s & Kickbacks!
Robin Westcott’s working group, the Homeowners’ Policy & Claims Bill of Rights Workshop, concluded its deliberations Thursday, July 18th. It was, in my opinion, a thorough and professionally conducted exercise that will yield many helpful recommendations. Hopefully those recommendations will lead to better consumer education first, improved regulatory oversight second, and only if/when absolutely necessary…better laws. You can watch the entire workshop: Day 1; here and Day 2 here.
One topic in need of far greater scrutiny but not included on the agenda is that of exorbitant referral fees paid by water extraction companies to plumbers. I know this sounds picayune, but…it’s not! [Read more…] about ICA’s Workshop…Referral Fee’s & Kickbacks!
Florida’s Fraud Problem & the ICA’s Working Group
I’m hopeful that Insurance Consumer Advocate (ICA) Robin Westcott’s working group called, the Homeowners’ Policy & Claims Bill of Rights Working Group, will provide much needed information that will lower costs for Florida’s premium payers. I’m hopeful but, not yet convinced.
[Read more…] about Florida’s Fraud Problem & the ICA’s Working Group
PA Contingency Fee’s–NAPIA Responds
Response to my last post alleging that Florida’s contingency fee system for public adjusters is the “quintessential moral hazard” generated more than the usual commentary; all of it expected and much of it worthy of exploration. None, however, was more worthy than a four page letter from the National Association of Public Insurance Adjusters (NAPIA) penned by Brian S. Goodman, General Counsel. [Read more…] about PA Contingency Fee’s–NAPIA Responds
Contingency Fees–A Moral Hazard?
Last week I participated in a panel discussion at a conference of carrier claim representatives; The Sunshine Claims Conference. Before, during, and after the program panel, I had numerous informal discussions about general insurance fraud–all of which eventually narrowed to comments about the public adjuster contingency fee system being part of Florida’s problem. [Read more…] about Contingency Fees–A Moral Hazard?
FACT & FALLACY…Such A Deal!
Going back to May of 2011, I have researched, written and posted an average of one article every week on this blog site. If that doesn’t sound like much, remember…I’m not only retired but, postings at Johnson Strategies, LLC are not your typical blogs–merely rephrasing press releases or meeting announcements.
I opine on controversial subjects and always try to provide a new way of looking at existing, often complicated matters, simplifying them so that those who want to, including the media, can see another perspective.
I also go out on a limb occasionally and am proud to say that, in just two years, I’ve been threatened with two lawsuits.
That’s once a year–I must be doing something right! [Read more…] about FACT & FALLACY…Such A Deal!
UPCIC…Fines & Penalties!
No need belaboring details of what Universal Property & Casualty Insurance Company (UPCIC) has been doing–waiting until after a loss to underwrite, cancelling policies back to inception for alleged “material misrepresentation” for reasons unrelated to the claim or any attempt at fraud by the claimant. [Read more…] about UPCIC…Fines & Penalties!
Assessments–Citizens vs. FIGA
Recently, after reading yet another editorial implying that FIGA (Florida Insurance Guaranty Association) assessments are similar to deficit assessments levied by Citizens, I found myself in a conversation with an industry associate who seemed to accept this dislogic and the resulting conclusions spread by the likes of the Sarasota Herald Tribune, the Palm Beach Post and perhaps a few other media outlets and consumer groups. [Read more…] about Assessments–Citizens vs. FIGA
Citizens, Voting Districts, and…Drawing the Line!
CS/SB-1770 will have a salutary impact on the burden that Citizens places on households it does not insure; including many Floridians who can’t even afford a house. That makes it a good step in the right direction. [Read more…] about Citizens, Voting Districts, and…Drawing the Line!
UNIVERSAL’S Post Claims Underwriting…Revisited!
Last Friday the Florida Senate amended CS/CS/HB-635 and will send it back to the House for final approval. Of course, it may not pass the House (as amended) and thus may never become law, but…the practice one of the Senate amendments is designed to stop should be voluntarily abandoned by the one carrier whose actions gave rise to it in the first place. [Read more…] about UNIVERSAL’S Post Claims Underwriting…Revisited!