Southeast Insurance Blog in Boca Raton and Fort Lauderdale, FL
Blog Post 5/23/16
Preparing for Hurricane season
- Be proactive not reactive and prepare now
- Excellent information re: Hurricane Preparedness can be located at the National Hurricane Center’s website – www.nhc.noaa.gov/prepare/ready.php
- Strongly recommend that clients complete an inventory of their contents (stored safely with photos and/ or video)
- Strongly recommend flood insurance as the entire State Of Florida is a flood zone
- Have all important papers stored safely
- We have been fortunate the wind has not blown since Hurricane Wilma in 2005 and let’s hope we have another safe Hurricane Season
Blog Post 5/4/16
June 1st is Hurrican Season
Tips and Reminders
Blog Post 4/13/16
I visited with representatives from Senator (s) Rubio (R) and Nelson (D) offices along with representatives from Congressmen: Murphy (D), Deutch (D), Posey (R) and Ross (R).
We had excellent visits. We garnered bipartisan, unanimous support on all of our issues and concerns.
Florida writes the most flood insurance policies in the country and is actually a donor State (more premium dollars than losses). The current flood bill expires in 2017 and we expressed and impressed upon all legislators how vital the National Flood Program is to our State. Eeveryone agreed with our position. It is of utmost importance that Congress work to reauthorize the flood bill before it expires. Representative Ross (R) and Representative Murphy (D) have co-sponsored a bill providing for private market flood insurance. We support their efforts.
Agriculture is the second largest industry in Florida. President Obama’s budget included $18B in cuts to that program over several years with a $3B cut this year. Our association worked closely with Congress and other grassroots efforts to quickly get that proposed cut removed from the budget. American farmers rely heavily on the ability to purchase Crop Insurance. It provides them the peace of mind that they will be covered in the event of a tragedy. Everyone we met with unanimously supported the current Crop Insurance program.
The Affordable Health Care act has drawn deep divisions in Congress. One portion of the bill that Florida representatives can agree on is “The Cadillac Tax”. “The Cadillac Tax” will tax business up to 40% of their health insurance premiums under certain circumstances. The result of the tax will be that fewer employers will be offering health coverage to their employees. This result will have just the opposite effect of what the Affordable Health Care Act intended. “The Cadillac Tax” which was supposed to be implemented in 2016 had been pushed back to 2018 and was recently pushed back to 2020. We along with the representatives we met would like to see the tax go away for good.
Overall we had very successful visits and all of the items we were communicating on will be beneficial to the great citizens of the Sunshine State.
Blog Post 4/4/16
Prepping for Congressional visits re: Insurance Industry Issues
In my role as National Director for the Professional Insurance Agents Of Florida, it is my honor/ pleasure to go to Washington D.C. annually and meet with members of Congress re: insurance industry issues.
Some of the issues that will be discussed:
- Flood Insurance- re: the April 1 price increases and the availability of the private market offering flood insurance policies
- Crop Insurance- re: the $18B budget cut to the program, which will adversely affect farmers. Agriculture is the second largest industry in the Sunshine State.
- State Regulation of Insurance- this has always been the case and we believe this is in everyone’s best interest. Florida is very unique especially when it comes to property insurance and federal oversight would adversely affect the citizens of Florida.
- Tax Reform For Small Business- the cumbersome and costly taxation on America’s small businesses is adversely affecting growth and job expansion.
Blog Post 3/30/16
Changes are coming to the National Flood Insurance Program on April 1, 2016:
The flood program is $24 Billion in debt due to the historic catastrophic events of Hurricane Katrina and Superstorm Sandy
The changes that will be taking place:
- Premium increases and surcharges will average 9% and will be limited to 18% on personal lines policies
- Non-residential business properties could increase as much as 25%
- Policyholders will receive a notification letter from FEMA (Federal Emergency Management Agency)
- Subsidized rates on certain lapsed policies will be eliminated, so increases may vary
Broward and Palm Beach counties have been newly mapped - as such some areas that were in “Preferred” areas will be moved to “Standard” areas and vice-versa.
The entire State Of Florida is a flood zone - below please view photos from the Delray Beach floods and Wellington Floods in 2013 - both areas were “Preferred” zones without requiring coverage