In my last blog, “A License to Steal”, I referenced some rarely seen public documents that prove there’s much more to Florida’s sinkhole equation than meets the eye. Sure, we see the rampant opportunism spawned by an ill-advised, poorly legislated mandate–residents of sinkhole alley, terrified by landsliding home values, filing claims for settlement cracks or, as often, for no damage at all. [Read more…] about LAWYERS & MONEY….More Than Meets the Eye!
Archives for 2011
SINKHOLES…Florida’s License to Steal!
Before we look at the killing some law firms are making off of sinkhole claims, it may be appropriate to take a look at the killing being made by “some” of their clients and, of course, how they go about making that killing. [Read more…] about SINKHOLES…Florida’s License to Steal!
NAIC’s New President…It’s Official!
Often I report on things the OIR, and thus Insurance Commissioner Kevin McCarty, has done, (or is not doing) to resolve this, that, or the other problem that may be confronting this, that or the other industry segment. Unfortunately, I’ve rarely taken time to tell you about Commissioner McCarty; the man who runs one of the largest, best funded, and most professional insurance regulatory agencies’ in America. Now perhaps I should. [Read more…] about NAIC’s New President…It’s Official!
PIP PACE PICKS UP!
Despite distractions provided by the Cat Fund and redistricting, the rhythm of PIP reform is picking up. Business and industry groups vary on the details of reform but, never the need for it. Those pushing repeal merely believe “real” reform is impossible…politically. [Read more…] about PIP PACE PICKS UP!
Life Without PIP…Worth the Risk!
Sitting on the board of the Florida Automobile Joint Underwriting Association (FAJUA) is like being in the sky-box for one of the most abused insurance systems in America; Personal Injury Protection (PIP). As both fraud and premiums have soared so, too, has the FAJUA’s policy count; rocketing from a low of “six” private passenger vehicles to nearly 800 4-wheel “defined” vehicles under Florida’s no-fault (PIP) statute…in less than a year! [Read more…] about Life Without PIP…Worth the Risk!
CITIZENS PA’s…According to a Government Study!
Before publishing comments on any blog, especially mine, it’s usually a good idea to check previous postings to make sure that what you say hasn’t already been refuted. Public Adjuster Martyn Belben didn’t do this when he took umbrage with my post on public adjuster promotions, called; “PA Advertorials”. [Read more…] about CITIZENS PA’s…According to a Government Study!
Bill Newton…Facts are Stubborn Things!
In response to my last blog on actions Citizens board could take to curtail the influx of new policies, I received comments from the president of the Florida Consumer Action Network, Bill Newton. Bill and I have had some productive exchanges in the past. I believe there’s mutual respect and we’ve even seen eye-to-eye on a few depopulation issues. However, even if his heart is in the right place, his facts and reasoning are not. [Read more…] about Bill Newton…Facts are Stubborn Things!
Citizens–New Board, New Direction!
Last session’s singular focus on SB-408 ignored the fact that even massive reform is moot when facing a state run mega-competitor like Citizens. It continues to win “all” the good business, pulling in over 1,000 policies every day. Citizens CFO, Sharon Binnun testified during last week’s Senate Banking and Insurance Committee that the majority of new policies are full multi-peril homeowners which now total over 946,000. Just two years ago, Citizens had only 607,000 such policies. [Read more…] about Citizens–New Board, New Direction!
CITIZENS SINKHOLES…Problem Solved?
Except for the possibility of writing about the killing lawyers make off of frivolous sinkhole claims, I promise this to be my last word on this frustrating subject. Besides, the issue of what rate would be approved for Citizens sinkhole activity coverage was always just a red herring–a distraction from the meaningful solutions already taking effect. [Read more…] about CITIZENS SINKHOLES…Problem Solved?
Citizens Sinkholes…The Whole Truth Again!
I’ve been waiting for the dust to settle–for the editorials to be written, victory to be claimed by Senator Fasano and trial lawyers; accolades to be placed and misplaced–before writing about Citizens sinkhole rate hearing.
And, of course, I’ve been waiting for the statutorily mandated, actuarially sound rate request to be significantly reduced, as it has been.
It’s time now to pay homage to the powerful few who got what they did not need or earn, at the expense of so many who don’t deserve to pay. [Read more…] about Citizens Sinkholes…The Whole Truth Again!