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!
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!
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!
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!
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!
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?
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!
On Tuesday, September 13th, the city of Tampa will host the mother of all rate hearings. Master of ceremonies, Insurance Commissioner Kevin McCarty, has my sympathy. It will be a televised, choreographed, media event–with buses of pre-fab sign-wavers, some protesting to their own detriment duped into doing so by trial lawyers, public adjusters and one senator. [Read more…] about CITIZENS SINKHOLES…The Whole Truth, Please!
Much has been said about unsavory advertising by public adjusters (PA’s), and…much has been done about it in Florida statutes, including provisions recently enacted in SB-408. However, statutory language falls short requiring full disclosure for institutional advertising that I call, “advertorials”–public service ads that use consumer advice to mask promotion of public adjusters or a public adjuster. [Read more…] about PA ADVERTORIALS–Need the Whole Truth!
News broke recently that Elliot Spitzer, arguably the most exposed hypocrite in the history of American politics, was being sued for having libeled two former Marsh & MaClennan executives exonerated of any wrong doing in the most famous kickback scandal ever to hit the insurance agency/brokerage system. To this day, compensation disclosure issues plague independent agents, lawsuits are still underway in states like New York and contingency commissions under siege across the land; all a result of Spitzers original prosecutions. [Read more…] about KICKBACKS & CLIENT # 9