[Fri, August 24, 2012] Hurricane Isaac, currently a tropical storm brewing southeast of Puerto Rico, is fore-casted to approach Florida on Monday as a Category 1 hurricane. Some computer models show it may swing further west into the Gulf of Mexico. At the time of this posting, the Sun Sentinel reported that Tropical Storm Isaac’s threat to Florida is reduced but not eliminated.

Regardless of the path Isaac may take, my colleagues at Zevuloni & Associates, Public Adjusters urge everyone within the cone of the storm to prepare. If you have not developed your hurricane plan and have not gotten your supplies yet, there is still time. What you don’t want to do is wait until the last minute.

Please PURCHASE hurricane supplies and PREPARE an evacuation plan just in case. REVIEW your insurance policy, DOCUMENT the current condition of your home and business with photos, and take PROTECTIVE measures to SAFEGUARD your family, pets and property! Prepare for the worst and hope for the best!

As the 20 year anniversary of Hurricane Andrew that devastated Florida on August 24, 1992 looms within our memories, Floridians should be extra diligent and particularly alert this time around.

Please keep my phone number nearby in case your home or business sustains any type of damage or you have a question regarding insurance coverage or claim handling process: local: 954-742-8248; toll-free: 877.ZEVULONI (938.8566).

Below are useful links to several excellent and relevant guides full of tips, suggestions and hurricane preparedness information.

• Sun Sentinel Hurricane Preparation Guide
  
• Florida Division of Emergency Management
• National Hurricane Center
• Federal Emergency Management Agency (FEMA)
• American Red Cross - Hurricane Preparation Guide
• Ready.Gov Hurricane Guide

[Thu, August 16, 2012] Florida regulators are skeptically looking into the latest increases sought by two property insurers that could raise premiums for some Floridians by over 40 percent, even as they reduce their number of policies.

Based on the recent news reports, Castle Key Indemnity Co. (formerly Allstate Floridian Indemnity Company) and Castle Key Insurance Co. (formerly Allstate Floridian Insurance Company) requested statewide average rate increases of 21.9 percent and 32.4 percent, respectively, for all policy types. Company officials said they had a combined loss in surplus from $206.7 million in 2007 to $117.5 million in 2011. David Border, vice president and state manager of the insurers, said the increases are needed due to significant underwriting losses that have drained the insurers’ surplus.

In Florida, the combined Allstate units held the No. 4 market share with more than 250,000 customers at the end of the first quarter. The company says that number is fewer than 240,000 now. State-run insurer Citizens ranks No. 1 with 1.4 million policies, followed by Universal Property & Casualty with 567,000 and State Farm with 466,797.

Regulators pressed Allstate for more information to justify expenses related to such things as transactions with the parent company, marketing and advertising and potential storm losses when it is not writing new property insurance business in Florida and has not been renewing tens of thousands of customers. The company said it would respond in less than three weeks. Regulators will begin to arrive at a decision on the rate request after that information is collected.

In Palm Beach County, the average premium would raise by 33.9 percent to $1,421 for Castle Key Insurance and by 23.5 percent to $1,049 for sister firm Castle Key Indemnity Co.

“We’ve had a net decline over five years and that is highlighted by low storm action with no major events at that time,” said Border.  What are your views on the constant rate increases? I would greatly appreciate your feedback, questions and opinion, so please don't hesitate to contact me.