Florida Underwriter November 2009
Cover Story
The Faces of Excess & Surplus Lines in 2009
The overall health of the excess and surplus lines market could be viewed as a microcosm of the current national condition -- some good news, some bad news, some mixed news, and some lingering questions.
Features
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We Are Not the Maytag Man
"Problems associated with Chinese-made drywall are all over the news, and now I am reading that companies may not insure homes if the owners don't repair the drywall damage. Isn't that what insurance is for -- to take care of these type of problems?"
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Citizens' Rate Hikes Could be Revisited
A rate hike for Florida's largest property insurance carrier is expected to take effect early next year, but there is already talk the anticipated rate hike may be insufficient to keep Citizens Property Insurance Corp. afloat in the wake of a big storm.
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Florida Still Fine-Tuning Public Adjusters
The number of licensed public adjusters in Florida increased from about 400 to over 2,500 as eight successive hurricanes in 2004 and 2005 hit the state and homeowners' claims abounded.
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Q&A with Julian Lago of FAHU
Along with heading up the financial services and employee benefit department of the long-standing Plastridge Insurance Agency in Southeast Florida, Julian Lago is current president of the Florida Association of Health Underwriters (FAHU).
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The Evolution of Business Technology
Over the last three decades, technology developments have dramatically influenced our business climate.
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New Florida Law Covers Sinkholes
Asked recently to list some of the biggest factors behind rising insurance costs, Florida Insurance Commissioner Kevin McCarty named the usual suspects, including the rising price of reinsurance and the overall economic downturn.
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What Agents Want
Insurance carriers and agents alike are feeling the pinch of the economic downturn. Every organization is looking for ways to do more with less, but we cannot lose sight of customer retention and the search for new business.
From the Editor
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With All These Problems, Who Need Hurricanes?
Although the weather has been blissfully non-eventful this hurricane season, the same cannot be said for the quagmire that is Florida's current property insurance market.
People
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Domansky Joins IBHS
Ed Domansky has joined the Institute for Business & Home Safety (IBHS) as media relations manager.
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Lawmakers Assigned
Assignments have been announced for insurance-related committees for the 2009-2010 Florida legislative session.
Company Notes
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Med Mal Rates Down in Florida for 2008
Florida's total medical malpractice premiums dropped in 2008 for the fifth consecutive year, according to an annual report filed by the Office of Insurance Regulation (OIR).
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WC Rates Going Down
Florida Insurance Commissioner Kevin McCarty has approved the latest proposed rate decrease submitted by the National Council on Compensation Insurance (NCCI) for workers' compensation insurance rates.
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Merger Planned
Florida Doctors Insurance Co. and Physicians Preferred Insurance Co. have signed definitive agreements for a purchase and plan of merger that, if approved, would make the new company the fourth largest writer of medical malpractice insurance in Florida.
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Prepared Opens for Business
Prepared Insurance Co. in Tampa has received a certificate of authority from the OIR to write homeowners' and dwelling fire insurance in Florida.
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New From the Blues
Blue Cross and Blue Shield of Florida (BCBSF), Inc., of Jacksonville has developed two new health cards available for consumer purchase at Winn Dixie(R) in October and at CVS/pharmacy(R) stores in November statewide.
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Homeowners Makes Offer
Homeowners Choice Inc., has tendered an offer to buy 21st Century Holding Co. in a stock and cash deal valued at $42.5 million.
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Alliance Formed
The WorkComp Advisory Group has formed a strategic alliance with Specific Software Solutions, LLC.
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AvMed Rated "Excellent"
For the second consecutive year, AvMed Health Plans has received an Excellent Accreditation status from the National Committee for Quality Assurance (NCQA) for both its commercial and Medicare products.
National Notes
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CPCU Certification Changes Announced
The American Institute for CPCU and the Insurance Institute of America have made substantial changes to the Chartered Property Casualty Underwriter (CPCU) program.
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CSC on the Move
At its annual client conference recently, CSC reported that it has defined more than 60 potential applications for all mobile platforms to help carriers communicate and exchange information to benefit agents and consumers.
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Reinsurers Unite
Eleven top reinsurers have established the Global Reinsurance Forum (GRF) to lobby decision makers on matters affecting the reinsurance industry worldwide.
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Court Finds for USAA
The Mississippi Supreme Court recently issued a unanimous decision in Corban v. USAA, settling legal issues surrounding Hurricane Katrina claims in Mississippi, according to a media release from USAA.
