11/05/2021
We are answering a lot of calls recently about insurance rate increases. We work hard to make sure that our customers are receiving the best combination of coverages that meets their needs at a competitive premium.
This task has been especially hard lately. The state of Florida has shut down several insurance carriers in the past year and has now required more to report their monthly financials. If those companies are not meeting the state’s requirements then they can be shut down as well.
The huge rate increases are a direct result of fraud and excessive lawsuits. We quickly need new legislation in Florida that balances protecting consumers, but also eliminates excessive lawsuits that ultimately pay attorneys more than the consumers.
Please do not hesitate to call if you have questions. We are always happy to explore all options with you.
Fraud, lawsuits to blame The Florida Senate’s Banking and Insurance Committee reconvened the week before last to hear that the state’s property insurance marketplace remains in “dire” shape, with some companies losing more money than last year, prompting regulators to require some to submit ...