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Lack of Client Knowledge Presents Sales Opportunities for Agents (DPC: Edition 1; Article 2)

Issue–A recent article in the Insurance Journal (Journal) daily headlines email titled “Gaps in Awareness of HO Coverage Provides Opportunity for Agents” came with a message that is no surprise to insurance professionals: Many consumers face exposures that they don’t understand and they don’t have the proper coverage for.

This lack of consumer knowledge gives insurance agents an opportunity to establish a good relationship with clients via education that helps them make informed decisions regarding insurance purchases.  [Read more…] about Dave’s Producer Corner

Don Brown, a prime contributor to this website with both his property insurance writings and his counseling on legislative solutions, has just announced the publication of four books–each with groundbreaking relevancy to Florida’s wind paradigm.  They are currently available on Amazon under the following titles:

• Drowning in Denial—Behavioral Economics and Coastal Insurance Markets: A Path to Resilience
• Fortifying the Future: Code Plus Standards for Hurricane Resilience and Economic Stability
• The Capital Drain: Why Uncertainty—Not Hurricanes—Breaks Insurance Markets
• The High Cost of Hidden Risk: Why Florida’s Insurance Crisis Can’t be Fixed Without Facing Reality.

But… it’s his most recent, coming soon manuscript, that will set Florida’s traditional reformers back a step. It’s titled “The Next Paradigm: Florida’s Unseen Insurance Crisis,” and it proves (via actuarial science and documented population patterns) that policymakers have totally missed the mark–focusing on symptoms like rising premiums, insurer exits, Citizens Property Insurance policy count, etc.– and ignoring the root cause of Florida’s dilemma; “…explosive population growth in high-risk coastal zones.”

[Read more…] about Florida’s Unseen Insurance Crisis

Johnson Strategies (JS) is proud to announce a new and very special product. It will be available to every subscriber to this blog site and is customized for P&C agency personnel and producers.

It’s called Dave’s Producer Corner, and it exploits the talents and immense knowledge of one of JS’s most well-known contributors, David Thompson, CPCU, AAI, API, CRIS.

It will keep you in the game, in front of customers, making you more knowledgeable about your products in either the personal or commercial arena.  It may also include selling tips to help close a sale or handle customer attitudes like Skepticism, Objection and more.

It will arrive at least once a month (maybe more) via brief, concise, articles posted on these pages.    

No fluff, no long introductions or explanations, just the facts any busy producer would like to have at their fingertips.  

And, like all JS articles it’s free to everyone who merely chooses to subscribe (see below).

Today is the first installment of Dave’s Producer Corner dealing with Commercial Property Vacancy issues. 

Please enjoy and spread the word to others about this valuable and free product from Johnson Strategies, LLC. 

And, of course, Dave’s Producer Corner is in addition to other content and opinion pieces you are already enjoying from this website.  Feel free to comment below and let us know subjects you’d like to see discussed under Dave’s Producer Corner and/or related subject headings.

[Read more…] about Announcing Dave’s Producer Corner!

This article highlights Don Browns most recent contribution, titled: “Behavioral Economics and Coastal Insurance Markets.”  His newest white paper exploits our past to help us Floridians improve our future–a future that will always threaten the balance between weather and humankind. Like no other venue, Florida is a petri dish for managing life in paradise.

[Read more…] about When Risk is Misunderstood, the Price is Always Higher!

I asked JS Contributor Barry Zalma to share any recent and significant Florida fraud cases Florida agents should be aware of. While his answer was not in my usual Property & Casualty subject area, this Medicare scam was still noteworthy for two reasons: one; its amount, which was $10.8 million; and two; the perpetrators punishment, which was a 17.5 year prison sentence along with substantial restitution.

Thanks to Barry Zalma, Esq. for sharing.  Please enjoy “Operation Brace Yourself!”

[Read more…] about OPERATION BRACE YOURSELF!

Both insurer claim personnel and agents should know that suspicious claims have common attributes collated into lists called, The Red Flags of Fraud. Created as training aids, these lists are used to determine whether further investigation may be required to determine if a claim is false or fraudulent.  Categories vary, ranging from those associated with the claim itself or with insureds, to indicators of specific types of fraud, such as bodily injury or arson for profit. Particularly in a state like Florida where fraud is prevalent, it behooves everyone to be familiar with these lists and to act accordingly–courtesy of JS Contributor, Barry Zalma. Enjoy!

[Read more…] about AGENTS, ADJUSTERS, INSURERS BEWARE—THE RED FLAGS OF FRAUD!

By JS Contributor, Don Brown

The recent Law360 article titled “Fla. Report Draws Serious Accusations of Insurer Misconduct” raises significant concerns about the financial practices of certain Florida insurance companies (See Note #3 below). Specifically, the article highlights how some insurers may be using Managing General Agents (MGAs) and other affiliated entities to mask profits while simultaneously justifying rate increases to regulators. This practice presents a legitimate concern for Florida’s policyholders and merits thorough investigation.

[Read more…] about The Delicate Balance: Addressing MGA Concerns Without Creating Market Uncertainty

Last year I participated in a televised panel (WEDU PBS) with trial lawyer Chip Merlin and Journalist Lawrence Mower. Counting the moderator, I was outnumbered three to one but, still held my own debating those who only see their side of every insurance issue. 

Watch that program here and decide for yourself. Maybe you’ll agree that trial lawyers and journalists and broadcasters who do their bidding, will deny any benefit of recent tort reforms despite an insurance commissioner, Chief Financial Officer (CFO) and every credible unbiased source I can think of demonstrating that rates are going down and capital is returning to Florida.  

[Read more…] about Are Florida’s MGA’s Under Attack?!

By JS Contributor Don Brown

As hurricanes become stronger and more frequent, building resilience into the homes and businesses along our coastlines has become a critical priority. This post explores the concept of “Code Plus,” a set of enhanced building standards specifically designed to help buildings withstand the ravages of hurricane winds, rain, and storm surge more effectively than traditional codes. Using Florida as a prime example, the “Code Plus” approach showcases how proactive building standards can make coastal living safer and, in the long term, more affordable by helping to reduce skyrocketing insurance premiums.

[Read more…] about A Smarter Approach to Hurricane-Resilient Homes and Insurance Stability…