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!
CITIZENS SINKHOLES…The Whole Truth, Please!
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!
PA ADVERTORIALS–Need the Whole Truth!
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!
KICKBACKS & CLIENT # 9
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
Florida’s Insurance Store…More Than You Want to Know!
This blog responds to comments made by Citizens Chairman Jim Malone about an RFP to study outsourcing of Citizens policy issuance and service functions. Malone’s comments were directed at the Florida Association of Insurance Agents (FAIA) and they were made during a public board meeting attended by the media and others. For these reasons and because the comments were both critical and inaccurate, there is a need to set the record straight. [Read more…] about Florida’s Insurance Store…More Than You Want to Know!
CITIZENS SINKHOLES–At Least Some Are Willing to Listen!
Since my last post on Citizens sinkhole rate increase; the one where I mentioned that some advocating for consumers may not fully understand the issue, I’ve had communications with all of them, except Senator Fasano. Chip Merlin and Sean Shaw have both, in their own way, indicated they will take a closer look at the facts. Sean Shaw has even indicated he is doing research on specific points. Frankly, regardless of whether minds are changed, this is what I’ve come to expect from two respected lawyers and advocates; the willingness to listen and, perhaps, learn. As for the Pasco County activist, Ginny Stevans, not so much! [Read more…] about CITIZENS SINKHOLES–At Least Some Are Willing to Listen!
CITIZENS SINKHOLES…Yet Another Look!
In my last blog on the Citizens sinkhole rate increase I commented on the fact that Senator Mike Fasano, consumer advocates, the media and the former state Insurance Consumer Advocate (ICA) Sean Shaw, were hurting Florida consumers; the ones they claim to be advocating for. One of those on my list took time to respond and clarify her position. Her name is Ginny Stevans and because her comments and my response go right to the heart of what’s taking place, I’ve reproduced both below. [Read more…] about CITIZENS SINKHOLES…Yet Another Look!
CITIZENS SINKHOLES..Not a Pretty Sight!
Staggering, unconscionable, devastating, incomprehensible…such is the hyperbole misshaping both the intent and impact of Citizens sinkhole rate increase–unanimously recommended by its board week before last. Leading the army of distortionists is Senator Mike Fasano (R-New Port Richey) and Florida’s former Insurance Consumer Advocate, now a staunch advocate for public adjusters, Sean Shaw. [Read more…] about CITIZENS SINKHOLES..Not a Pretty Sight!