|Are You Ready?
Fri, August 24, 2012 | link
[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!
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.
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.
Florida Regulators Question Insurance Rate
Thu, August 16, 2012 | link
[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.