Florida Underwriter May 2011
Brokers and agents, business owners and employees are all caught in a current of change, moving from the traditional employee benefit packages into unfamiliar waters as offerings, regulations, and needs evolve. With this sea change comes a wave of new opportunities.
From the Editor
Insurance-related bills came down to the final days of the 2011 legislative session. The Florida Legislature is a lot like a basketball game—it’s the final few moments that provide the most drama.
They Say, Hearsay, and We Say
People who pay off their mortgages and then decide to “go bare” with a homemade brand of self-insurance are taking a huge gamble, trading a small amount of premium dollars for a major financial risk.
Citizens Property Insurance Corp. is debating whether to purchase private reinsurance this year to help shore up its financial footing. Also, some bills pending in the 2011 legislative session could mean big changes at Florida’s largest property insurer.
While Florida agents and brokers have become adept at adjusting to the “new normal” of stagnant rates and reduced premiums afflicting the E&S commercial property market, there are reasons to believe change may be on the way.
One in three Americans entering the workforce today will suffer a disability prior to retirement. However, 71 percent live from paycheck to paycheck, without enough savings to survive a disability. So why aren’t you selling Disability Insurance?
Early signs for this year’s workers’ compensation market show that it is struggling against some significant headwinds. Two forces, in particular, continue to buffet the industry: A troubled job market and regulatory uncertainty.
Workers’ compensation fraud has been a particularly troublesome area for the industry, costing insurers and employers about $6 billion a year, according to the Coalition Against Insurance Fraud.
Smoking can do more than harm the smoker. It also can wreak havoc with the equipment an injured worker may need to help him get well.
Florida By the Numbers
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