UNITE
VOICE OF THE SPECIALTY INSURANCE AGENTS ASSOCIATIONCONVENTION SPECIAL MAY- JUNE 2010 |
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| CONTACT US |
PHONE 888-290-8436
FAX 386-257-0250 |
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| SUMMER IS HERE UNITE READERS |
HOPE YOU ENJOY THIS COMBINATION MAY-JUNE 2010 CONVENTION SPECIAL 2010 ISSUE OF THE ELECTRONIC EDITION OF UNITE. WE WANT IT TO SERVE YOUR NEEDS AND BE THE VOICE OF SPECIALTY INSURANCE AGENTS ASSOCIATION. PLEASE DIRECT ANY COMMENTS TO US AT
INFO@SPECIALTYINSURANCEAGENTS.ORG. NEW AND EXCITING ARTICLES EACH AND EVERY MONTH. CHECK OUT OUR ADVERTISERS THEY ARE HERE TO SUPPORT THE UNITE MEMBERS AND HELP YOU BECOME MORE SUCCESSFUL. |
| QUESTION OF THE MONTH | | ARE YOU KEEPING YOUR EMPLOYEES AND BUSINESS SAFE WITH A STORM PLAN?
Email your questions to UNITE at
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| 21ST ANNUAL CONVENTION & TRADE FAIR May 13th-16th 2010 FOLLOW-UP |
OVERVIEW OF SPECIALTY AGENTS TRADE SHOW - 2010
by: ROVING REPORTER -
-- Fran Colucci
The 21st annual Trade Fair presented by SPECIALTY AGENTS was by far, the most momentus, enjoyable and well attended trade fair since its inception in 1989.
The weekend began on Thursday, May 13th with a Vendor Appreciation party. This was the beginning of a very successful Trade Show with our gracious venders meeting and greeting each other, providing a great unsolicited networking opportunity. As the Specialty Agents Board members walked around greeting the vendors, they were delighted to note the comraderie as vendors circulated the room greeting each other while tasting the magnificent array of hors d'oeuvres and desserts colorfully presented. The general consensus of opinion ranged from wonderful to fantastic to spectacular.
CLICK HERE TO SEE VENDORS PARTY SLIDESHOW
Friday, May 14th began with Executive Director and Trade Show coordinator Susan Graves and her staff welcoming attendees register for the weekend.
Early arrivals who had come just for the CE classes which were presented throughout Thursday and Friday spent the day attending CE classes and ended up taking out membership in the best agent support organizaion in the state of Florida.
Friday evening, May 14th a gala reception was held. Spontaneity between vendors and SA members was electrifying. Gaiety filled the air as attendees headed for the buffet table where the most delectable food was prepared table-side by the culinary staff of the Doubletree Hotel which tempted the most discriminating palate. Highlight of the evening was a 50/50 raffle where a happy member won $75.
CLICK HERE FOR FRIDAY NIGHT SLIDESHOW
Saturday morning was the annual Agent breakfast meeting which was opened by Board member Pat Lorello at 8:30 a.m. with an introduction of the Board as attendees helped themselves to a continental breakfast. She then turned the meeting over to Board member Curtis Tyre, President and owner of Tyre Insurance School who presented a CE class on Rules and Regulations which not only gave all in attendance valuable information but 2 hrs of CE credits.
Meeting adjourned at 10:00 a.m. Doors of the Trade Show were opened and the Trade Show began.
As the agents entered the Trade Show, the vendors were all in booths meeting, greeting and giving away promotional items. They set up baskets wherein agents would drop their business cards for drawings of fabulous prizes, while receiving in-depth information on their products which ranged from insurance companies seeking to appoint agents to rating systems and ancillary products such as debit cards, car warranties. towing and road service. The theme of this year's Trade Show was "CIRCUS" which was exhibited by Board member Debbie Grey colorfully adorned in a clown costume. An added attraction was a 5 foot tiger elegantly prancing in his cage as onlookers viewed this magnificent creature in awe.
CLICK HERE FOR TRADE FAIR SLIDESHOW
Trade Show was closed from 12:00 p.m. to 1:30 for lunch. The luncheon was a phenomenal success consisting of mile-high sandwiches and phenomenal desserts only to be topped by presentation of guest speakers  Rep. Loranne Ausley, Democrat candidate for CFO;
 Sen. Jeff Atwater, Republication candidate for CFO and
 Ralph Moten, reknowned motivational speaker. Mr. Moten gave a very inspiring speech giving agents points in the development of their business with emphasis on retention of clients.
Following the luncheon -- Trade Fair resumed. CE classes were held throughout the weekend and it should be noted that while agents were signing up with new companies, SA members took advantage of the free CE classes held thus maintaining their licenses and gaining new knowledge.
The finale of the weekend was a superb dinner followed by CASINO NIGHT. Excitement ranked high as attendees purchased tickets and placed their bets. The highlight of the evening was when ten very excited people each won a $100 bill when their winning ticket was pulled.
In interviewing both companies and agents -- everyone had very favorable comments. Attendance was high -- accommodations were excellent -- location great, food was superb and the price was right. Not only was it free admission to the Trade Show but the hotel rate was affordable.
Sincere thanks to the following sponsors who made this event possible by their very generous contributions:
AMERICAN SOUTHWEST INSURANCE MANAGERS
ACCU-AUTO INSURANCE TECHNOLOGIES CORP.
A+TRAVEL OF SARASOTA
BRISTOL WEST/FOREMOST INSURANCE GROUP
1ST AUTO AND HOME INSURANCE
GRAVES & COMPANY
INFINITY INSURANCE
IRVING GREEN & ASSOCIATES
KINGSWAY AMIGO INSURANCE COMPANY
NATION SAFE DRIVERS
PROGRESSIVE INSURANCE
QQ SOLUTIONS / QUICK QUOTE
STANDARD PREMIUM FINANCE
TYRE INSURANCE AGENCY SCHOOL OF CE
Last, but not least -- a very special thank you to Susan Graves, Executive Director, and her staff who have worked diligently to present a very successful SA Trade Show.
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| NATIONS SAFE DRIVER ROAD TO SUCCESS |
FOR MORE INFO CLICK ON PICTURE | CLICK ON ABOVE FOR MORE INFORMATION
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| GIC WE CAN SAVE YOU TIME | |
CLICK ON ABOVE FOR MORE INFO |
CLICK ON ABOVE FOR MORE INFORMATION
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| COMPANY SPOTLIGHT | |
IF YOU WOULD TO HAVE YOUR COMPANY SPOTLIGHTED HERE CONTACT US.
BY FRAN COLUCCI SPECIALTY INSURANCE AGENT ASSOCIATION BOARD MEMBER
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| KINGSWAY AMIGO IS BORN | 
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| NFIP ON MORE THAN 10 DAY HIATUS |
NFIP GRINDS TO STANDSTILL
As congressional debate grinds to a standstill over the Tax Extenders Bill, the NFIP program continues in a 10 day hiatus with no resolution in sight creating serious consequences to property holders during hurricane season. Following the lead of the IIABA, Fidelity urges you to contact senators and Ms. Pelosi to:
- seek Congress' immediate action to provide long term funding for the NFIP and
- express support of HR 5114 Flood Insurance Reform Priorities Act of 2010 sponsored by Maxine Waters.
Please communicate your opinions to Congress to stop the short term extensions and seek to provide consistency and dependability to the NFIP. Currently, Tax Extender legislation combines the NFIP re-authorization with the extension of funding for other unrelated programs creating a risky and unnecessary burden on the 5 million flood insurance policyholders to suffer through hurricane season without needed coverage.
In addition, agents are urged to contact your Congressmen to pass HR 5114 Flood Insurance Reform Bill forwarded to the full house by the US House Financial Services Committee. This bill initiated by Rep Maxine Waters, provides a multi year extension of the NFIP through 2015, promotes a phase-in of actuarial rates increases coverage limits and adds additional living expense coverage to flood insurance policies through the NFIP.
Agents can use the link below to find the House of Representatives or Senate member for their area and express their interest in continued NFIP funding without a lapse and for future longer term extensions of the program. Some statements below can be considered as you contact your congressmen:
It is imperative that you vote in support of HR 5114 to grant a multi-year extension of the NFIP and prevent continued lapse of the NFIP program, promote actuarial rates and increase coverages for flood insurance policies through the NFIP.
The lingering hiatus of the NFIP during Hurricane season is detrimental to policyholders, to flood claimants, as well as to those purchasing new real estate.
Contact your Senator at: http://www.senate.gov/general/contact_information/senators_cfm.cfm
Contact your Representative: http://www.house.gov/house/MemberWWW_by_State.shtml
Three of the nation's largest lending authorities have issued guidance to administer the federal flood insurance regulations during the current NFIP lapse in authority. Although each lending authority notes considerations, the consensus is, in most cases, loan closings may still occur during the NFIP lapse with verification of the submission of a NFIP flood policy application and premium payment submission to WYO insurance provider. Lenders should follow all normal flood risk evaluations prior to closing and establish follow up practices to monitor full compliance upon the re-authorization of the NFIP program. Lenders should become familiar with and follow the specific guidance offered by their lending authority.
The NFIP issued Memo W-10031 Guidance for Lenders From Their Regulatory Bodies During the Lapse in NFIP Authority publishing guidance from the Office of Thrift Supervision, Federal Reserve Board and Freddie Mac indicating future guidance from other lending regulators would be passed along when made available:
1. Freddie Mac: http://www.freddiemac.com/singlefamily/news/2010/0326_flood.html
2. Office of Thrift Supervision: http://files.ots.treas.gov/25338.pdf
3. Federal Reserve:http://www.federalreserve.gov/boarddocs/caletters/2010/1003/caltr1003.htm
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| ETI ACCORD FOR DUMMIES FREE |
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| | E&O BE CAREFULL | BE CAREFULL !!!!!
New Uniform Mitigation Verification Inspection Form
OIR-B1-1802 (Rev. 02/10) Adopted,
Including Updated Roof Geometry Definitions
The Florida Office of Insurance Regulation (OIR) has adopted a new version of the Uniform Mitigation Verification Inspection Form (OIR-B1-1802 (Rev. 02/10)), effective April 21, which also is posted on our website in the Underwriting Forms section of Agent Resources. More information on the new form can be found in the OIR Informational Memorandum, issued 4/21/10, and posted on its website. Below are details outlining Citizens adoption of the form:
Inspectors should begin using the new version of the form immediately. Inspections completed prior to June 1, 2010, will be accepted on the old version (07/07); inspections completed on or after June 1, 2010, must be submitted on the new version (02/10). Citizens will use the inspection completion date to determine the correct version to accept. Forms must be completed in full and by appropriately licensed individuals.
The new form includes more detail than the current version. Changes include:
- The name of the person completing the inspection must be on the first page of the inspection, and the person must initial each page.
- The form must indicate the type of license the qualified inspector holds. In addition, the affirmation wording in the signature block, for both the inspector and the insured, was expanded to include penalties for providing false information.
- The inspector must indicate the specific building code used to design and build the structure.
- Photographs now are required for all mitigation features except roof covering. Any mitigation form received without the required photographs will not be processed.
- The opening protection qualifications were expanded to enable the inspector to select the exact standard that applies to the opening protection present on the structure. In addition, for Options A, B and C, the inspector also must note which building code applies. The table below will assist agents in entering applications into ePAS:
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If the OIR-B1-1802 (rev 02/10) indicates for question #9: |
Then choose the ePAS option: | |
Option A |
Class A | |
Option B |
Class B | |
Option C |
Class C - Not Rated | |
Option D |
Class C - Not Rated | |
Option E |
Class C - Rated Glazed | |
Option F |
Class C - Rated Glazed | |
Option G |
Class C - Not Rated | |
Option H |
Class C - Wood Panels | |
Option I |
Class C - Not Rated | |
Option J |
None | |
Option k |
None | |
Option K |
None |
Updated Roof Geometry Definitions
In addition to the changes outlined above, the new form updates the options and definitions for roof geometry (hip roof, non-hip roof or flat roof).
Citizens immediately will apply the OIR definitions for roof geometry on all new business.
Applications submitted without a completed Uniform Mitigation Verification Inspection Form (Rev. 02/10) will require photos or other documentation to substantiate the roof geometry according to the new definitions.
REPRINTED Citizens Property Insurance Corporation
www.citizensfla.com Therefore, please BE CAREFUL you could be faced with an E&O situation. |
| SIAA AGENTS E&O |
FOR MORE INFORMATION ON THIS PROGRAM CALL OR EMAIL TODAY
GRAVES & COMPANY
1-386-257-0595
| | STEAL GOOD IDEAS | |
Rules for Your Business. Rules for Your Life.
by Michael Dalton Johnson
These rules don't have a theme. They are brief and random nuggets of advice that I have written on over the years. Many of them could be expanded into much longer articles and some might even serve as a basis for a book. However, I believe the essence of these ideas have survived my condensation. I hope you find them useful.
Take 100 percent responsibility for everything that happens at all times.
This is the first law of business and personal success. Nothing will transform your life faster than your faithful observation of this rule. The clarity and power you will gain will propel you to unimaginable heights.
"Steal" good ideas.
When you see a really good marketing concept or hear a compelling sales pitch, adapt it to your own use. This does not mean you should plagiarize, but simply adapt the concepts to your needs. I used to go to the post office on Saturday mornings and load up on dozens of unopened direct mail pieces which I would "steal" from the waste bins. I would then take them home and analyze them. I stole a treasure-trove of brilliant ideas from America's leading direct mail experts.
Go a little crazy from time to time.
Think of the most audacious, unexpected and exhilarating thing you can do to increase your sales.
What are you waiting for?
Get the fix in.
Play like the big boys and get the fix in. I'm not talking about bribing politicians or public officials. (There's enough of that already going on.) I'm talking about doing your sales research and marketing homework. Don't waste your time and money searching for sales in the dark. Turn the light on. Get the fix in.
Avoid attorneys.
Quite often, their interests are exactly the opposite of yours. You want a resolution of your problem. They want to bill for lots of hours. Most are professional and honest, but some will manufacture complexities to delay resolution for as long as possible. Since dealing with lawyers is stressful and expensive, have a plan to avoid them. Obviously you will need attorneys to review contracts along with a wide range of other legal "housekeeping" tasks. However, you can greatly lessen the need for litigation attorneys by simply having clear up-front written agreements. Don't forget an arbitration clause.
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| PROGRESSIVE ATTRACT - AND RETAIN - MORE CUSTOMERS |
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| | MY COMPANIES ARE NOT WRITING IN MY AREA WHAT WILL I DO? |
DO YOU NEED A MARKET FOR AUTO?
YOU ASK US TO REPRINT THIS ARTICLE SO HERE IT IS
For agents who are without or needing another auto market, you may consider the FAJUA, Florida Automobile Joint Underwriting Association, on the web at www.fajua.org . The FAJUA is still a market and you no longer have to complete their training course to place business with them. You need to contact Elaine Joyner as noted here to obtain an appointment. | - Producer Registration - Please contact Elaine Joyner for registration package.
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In the past there were questions about commissions and agent relations. You should consider this when considering an appointment. We are not recommending for or against, simply trying to help those of you needing an auto market. They write both personal and commercial auto. Once you get your appointment, you have an auto market to work with. |
| SPECIALTY AGENTS FLOOD 20% COMMISSION |
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| | HOW TO HELP CLIENTS ABOUT AUTO CLAIMS |
ICA Sean Shaw Consumer Tips about Auto Accidents and Filing a Claim By: ICA Staff
Just about everyone can agree that accidents happen, but what should consumers do when they find themselves in an automobile accident? The Office of the Insurance Consumer Advocate would like to share some information regarding automobile insurance and accident protocol. When on the road, drivers should always have their insurance cards and the phone numbers of their insurance company and agent on hand. The Office of the Insurance Consumer Advocate has a few tips that motorists should keep in mind if they find themselves in an accident: - In the event of an accident, consumers should ensure that any injuries are tended to first.
- Regardless of the circumstances or severity of an accident, consumers should report the accident to the police, and obtain a copy of the police report.
- Consumers should obtain the information from the other drivers that were involved in the accident including their names, addresses, and phone numbers. The information of any passengers or witnesses should be obtained as well.
- Always write down the make, model, and license plate numbers of the other vehicles.
- Ask to see the other driver's insurance card to obtain the name of their insurance company and the policy number.
- Take photographs at the scene of the accident if possible.
- Consumers should notify their agent as soon as possible, whether or not they believe they are at fault.
In most instances, consumers will file an insurance claim for damages sustained to their vehicle. There are also some important issues for consumers to note when preparing to get their vehicle repaired: - Policyholders have the right to choose where they want to have their vehicles repaired after a collision. Insurance companies can recommend a collision repair shop, but cannot require the policyholder to use that shop.
- The insurance company must repair the vehicle with parts at least equal in kind and quality to the original parts. The repair work must restore the structural integrity of the vehicle.
- In the event a consumer's vehicle is deemed a total loss, insurance companies are required to pay the policyholder the value of the vehicle at the moment before the accident.
- Policyholder's should always independently research the value of their car before agreeing to a settlement. In the event the consumer does not agree with the insurer's offer, consumers should try to negotiate the value of the settlement.
Consumers that have any further questions regarding auto insurance and auto insurance protocol should contact the Division of Consumer Services within the Department of Financial Services on-line at http://www.myfloridacfo.com/Consumers/ or by phone at 1-877-MY-FL-CFO (1-877-693-5236), toll-free in Florida, and (850) 413-3089 from out of state.
The Insurance Consumer Advocate is appointed by Florida CFO Alex Sink and is committed to finding solutions to insurance issues facing Floridians, calling attention to questionable insurance practices, promoting a viable insurance market responsive to the needs of Florida's diverse population and assuring that rates are fair and justified. |
| SIAA MEMBERS CAN SELL AARP MED SUPP |
CALL TODAY TO START SELLING AND MAKING MONEY TODAY
1-888-290-8436 | | NOT PAYING YOUR WORKER'S COMPENSATION WATCH OUT | |
Wrap-Up of This Week's Statewide Workers' Compensation Sweep
On Wednesday CFO Sink announced that a two-day sweep shut down 70 employers for violations of Florida's workers' compensation laws. As part of the statewide effort, investigators with the Department of Financial Services' Division of Workers' Compensation (DWC) Bureau of Compliance made random site visits this week including construction companies and other businesses who failed to ensure their employees were covered by the required workers' compensation insurance.
"The safety of Floridians on the job is not to be taken lightly," said CFO Sink. "Let this be a wake-up call to employers who would try to dodge the system by not paying their workers' compensation or not paying for the proper classification of workers' compensation for their employees. The construction industry in particular must ensure that employees are properly protected because of the dangerous jobs they perform, but workplace safety and adequate workers' compensation insurance is simply the right thing to do for all workers."
During the sweep, investigators contacted more than 888 employers, visited 435 work sites and issued 70 Stop-Work Orders (SWO's) to construction and non-construction businesses, including general contractors, subcontractors, restaurants, and medical centers who are in violation of Florida's workers' compensation coverage requirements. Under state law, businesses engaged in the construction industry are required to obtain workers' compensation coverage when they employ one or more employees, including the owner. Businesses engaged in the non-construction industry are required to obtain workers' compensation coverage when they employ four or more employees, excluding business owners who are exempt.
When an employer receives a SWO the business must immediately cease all operations and the SWO remains in effect until the employer obtains proper coverage and pays the assessed penalty. SWO's are issued for violations including failure to obtain workers' compensation coverage, under-reporting payroll such as paying employees in cash instead of payroll checks, and misclassifying employees in order to receive a lower workers' compensation rate. For those employers who choose not to pay the assessed penalty, DWC has the authority under Section 440.107(11) of the Florida Statutes to initiate lien proceedings to collect any penalty due that has not been paid. More than 360 liens have been filed against delinquent employers since late 2009, totaling $13.7 million.
As Florida's CFO, Sink oversees the Department of Financial Services' Division of Workers' Compensation, which has conducted nearly 30,000 onsite investigations into employer compliance this fiscal year. For more information about CFO Sink's Division of Workers' Compensation or to submit a complaint, visit www.MyFloridaCFO.com or call (850) 413-1609.
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| FIRST INSURANCE NETWORK INCREASES AGENCY PROFITS |
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| | WHY IS MY COMPUTER SO SLOW??? |
Go to "Start" and select "Programs," "Accessories," "System Tools" and "Disk Cleanup." Decide which files you want to clean up--"My files only" or "Files from all users on this computer." Wait while disk cleanup calculates how much free space you can get. This may take a few minutes. Look to see how much space you can clean up in the box that appears. Click on the files and you will either get a box telling you to view these files or about the files. Select as many or as few as you want.  Click "OK" and "Delete Files" and Disk Cleanup will delete the files you selected. If you are having second thoughts, hit "Cancel" and you won't delete the files. Open your "Control Panel" and click on "Programs and Features." From the "Program and features" screen, you can uninstall programs. If you have features that came with your PC that you don't use, you can uninstall them here. In addition, if you did a trial on a game or a software package that is no longer valid or that you don't want you can uninstall it. Just find the program in the list and click on "Uninstall/Change." This is another method to free up hard disk space on windows vista. Run "Disk Defragmenter." On the start menu, select "Programs," "Accessories," "System Tools" and "Disk Defragmenter." A window will appear where you can have "Disk Defragmenter" run on a schedule or you can defragment it now. If you have set a schedule unless you have done some major changes since the last defragment just let it run on schedule. |
| ASSURANCEAMERICA YOUR PARTNER FOR MUTUAL GROWTH |
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| | FYI | |
Notice of Change - Penalty Guidelines for Insurance Representatives
To All Interested Parties:
The Florida Department of Financial Services, Division of Agent & Agency Services, hereby provides Notice of Change to its proposed rule regarding 69B-231.110, Florida Administrative Code, relating to penalties for insurance representatives for violating specific Florida Insurance Code provisions. The notice has been filed with the Florida Department of State and will be officially published Friday, June 18, 2010, in the Florida Administrative Weekly.
You may access the full text of the notices via the following link: http://www.MyFloridaCFO.com/Agents/Industry/Laws-Rules/docs/Notice_Change_Gen_Penalty.pdf
SINK FILES GOV RACE PAPERS
By KATHLEEN HAUGHNEY
THE NEWS SERVICE OF FLORIDA
THE CAPITAL, TALLAHASSEE, June 16, 2010.....Chief Financial Officer Alex Sink officially filed her paperwork to run for governor Wednesday, in the midst of a race in which she finds herself behind two Republicans in the polls and concerned about an independent candidate that could skim Democratic votes.
Sink, 62, filed her qualifying papers flanked by advisers at the state Division of Elections in Tallahassee, then went outside to speak to a small group of cheering supporters.
With no major primary opposition, Sink's most immediate campaign concern may be blunting the spoiler threat from independent candidate Bud Chiles, who jumped in the campaign just a few weeks ago.
"As we have already seen just this week there will be many candidates in the campaign and many candidates names on the ballot in November," Sink said.
In the meantime, she's going to bang hard on BP for the oil it is spewing into the Gulf of Mexico. Sink also has a campaign theme in pledging to help the Florida business owners who have been affected by the massive oil spill. Sink, like other political candidates, has spent a significant amount of time during the past month in the Panhandle, speaking with BP representatives and local officials.
She also publicly flogged BP Vice President Bob Fryar who appeared before Gov. Charlie Crist and the Florida Cabinet earlier this month.
"I am so moved by the incredible spirit of Floridans, by the fishermen and their families, by the small business owners and their employees, the men and women who make their lives and their livelihoods in Florida's Gulf coast," Sink said after filing qualifying papers. "They deserve a leader that will stand up for them."
Sink announced her candidacy over a year ago, but spent much of the first year quietly raising money. Despite the fact that she is a statewide office holder, a Quinnipiac poll released earlier this month said that 56 percent of those surveyed had not heard enough about Sink to form an opinion of her.
In comparison, 32 percent said they hadn't heard enough about Republican gubernatorial candidate Bill McCollum and 46 percent said they hadn't heard enough about GOP gubernatorial front runner Rick Scott. Chiles, running technically with no party affiliation, faces an unknown factor of 81 percent.
Chiles, McCollum and Scott were yet to file their qualifying papers Wednesday and were expected to later in the week. McCollum, Scott and Sink are all also slated to appear together Thursday afternoon in Sarasota at the Florida Press Association annual convention.
Castle Key Insurance Companies are expanding their writing of homeowners
TALLAHASSEE, Fla. - The Florida Office of Insurance Regulation (Office) today announced
Castle Key Insurance Companies are expanding their writing of homeowners and tenant insurance policies in Florida, and may potentially augment these writings with policies from Citizens Property Insurance Corporation (Citizens). Castle Key Insurance Company and Castle Key Indemnity Company (collectively referred to as Castle Key) are subsidiary companies of Allstate Insurance Company.
Castle Key has expressed its intention to write more than 50,000 policies of new business during 2010 and 2011, which may include Citizens' policies. Citizens is the state-run insurer that primarily covers policies in high-risk counties, and is allowed to transfer these policies to private insurers through the take out process. Transfer of policies from Citizens to the private sector is subject to the approval of the Office. Castle Key is considering utilizing the Citizens' take out process to meets its strategic objectives.
"This action reflects a new commitment by a large insurer to be engaged in Florida's private property insurance market," remarked Insurance Commissioner Kevin McCarty. "Castle Key is actively demonstrating leadership and confidence in the current economic and regulatory environment."
Castle Key cited a number of reasons for considering Citizens' policies including: four consecutive years without significant storm activity; the insurance company's capacity to write additional policies; and a need to balance capital with exposure. At the end of 2009, Castle Key Insurance Company reported $155.9 million in surplus and 157,020 policies in Florida, while Castle Key Indemnity Company reported $14.1 million in surplus and 76,536 policies in Florida.
Castle Key's expansion will include writing or taking out policies in all of Florida's 67 counties.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com. If you would like to review and compare homeowners insurance rates in Florida, go to www.shopandcomparerates.com.
| Compliance Corner | |
We continue to see a pattern of noncompliance in the areas noted below. This section has been created to assist you in keeping your insurance business in compliance. The items are intended as reminders only and are not necessarily the exact text of the Florida Statutes or Florida Administrative Code. The legal cites have been provided for your further reference. | |
Criminal Proceedings
You must notify us in writing within 30 days after pleading guilty or nolo contendere, or being convicted or found guilty of any felony crime. Failure to do so may result in your license being suspended or revoked. [Sections 626.451(7), 626.611(14), and 626.621(11), Florida Statutes]
Nonresidents and County Appointments
All agents/adjusters must be appointed in order to transact insurance or adjust claims in Florida. This applies to nonresidents regardless of whether their home state requires an appointment or not. Nonresidents also need a county appointment if they are physically coming to that county to engage in insurance activities. [Sections 624.505 and 626.112(1)(a), Florida Statutes]
Paying for Referrals
Agents, agencies, and other licensees cannot pay referral fees that are based on production. We still see this major problem in our investigations. [Section 626.112(8), Florida Statutes] |
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| ACCU-AUTO FREE 30-DAY DEMO |
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| | STATE NEWS | |
Navigating Federal Healthcare Reform- A Summer Series from Insurance Consumer Advocate Sean Shaw
The enactment of the Patient Protection and Affordable Care Act on March 23, 2010 has left many consumers with numerous questions about how the new legislation will affect them. In an effort to provide consumers with vital information regarding the new legislation, the Office of the Insurance Consumer Advocate will publish a summer series explaining how consumers will be impacted by the health care reform bill. Many of the changes will take several years to implement thus; prepared consumers will have an advantage when making health insurance decisions.
In the first installment of the Patient Protection and Affordable Care Act series, consumers will be provided with an overview of the benefits that took immediate effect as a result of the President signing the Patient Protection and Affordable Care Act into law.
The following are the immediate changes that have taken effect:
- Eligible beneficiaries with Part D coverage who fall into the "doughnut hole", a gap in Medicare Part D prescription drug coverage, in 2010 can receive a one-time $250 rebate to pay for prescription drugs that were purchased while in the "doughnut hole". The "doughnut hole" will be phased out in future years.
- Businesses with 25 or fewer full-time employees that pay for at least 50 percent of premiums, and pay average annual wages below $50,000, may be eligible for a tax credit of up to 35 percent of the premiums the business pays.
- Grant money will be provided to states to establish consumer assistance programs which will provide consumers with an external review by an independent third party when disputes arise.
- Health insurance companies can no longer rescind policies except in cases of fraud.
Consumers that have any further questions regarding the immediate changes that have taken effect since the passage of the Patient Protection and Affordable Care Act, should contact the Division of Consumer Services within the Department of Financial Services on-line at http://www.myfloridacfo.com/Consumers/ or by phone at 1-877-MY-FL-CFO (1-877-693-5236), toll-free in Florida, and (850) 413-3089 from out of state.
The Insurance Consumer Advocate is appointed by Florida CFO Alex Sink and is committed to finding solutions to insurance issues facing Floridians, calling attention to questionable insurance practices, promoting a viable insurance market responsive to the needs of Florida's diverse population and assuring that rates are fair and justified.
CFO Sink Urges Financial Preparations at Start of 2010 Hurricane Season
CFO Sink is reminding Florida homeowners and small business owners to review their insurance policies and make sure they have their financial documents in order now that the 2010 Hurricane Season is here. CFO Sink is urging Floridians to visit the Department of Financial Services (DFS) website at www.MyFloridaCFO.com or attend a free DFS Disaster Preparedness workshop to learn more about getting financially prepared.
"Preparing for a hurricane includes protecting your property and your family, but also your pocketbook," said CFO Sink. "Floridians and small business owners should secure their finances for a hurricane the same way they would secure their homes, leaving no financial windows open to devastation."
Top 5 Tips to Prepare Financially for Hurricane Season
- Review your insurance policy to make sure you have the coverage you need to rebuild or repair after a storm. Renters should also have coverage for contents.
- If you do not have flood insurance, get it now. Even a home or business that is not located in a flood zone can be damaged by rising waters.
- Know and plan for your deductibles, what you will pay out of pocket, if your home or business is damaged in a storm.
- Video and inventory your property, including any receipts and serial numbers. This will help speed up any claim payment.
- Keep copies of your important insurance and financial records in multiple locations such as a safe deposit box, in a waterproof container you can take with you should you need to evacuate, with a relative or friend, or in electronic format.
The Atlantic Hurricane Season begins today and continues through the end of November. Weather experts have forecasted an active season. In addition, a recent survey commissioned by the Department of Emergency Management finds that two-thirds of Floridians do not accurately understand their level of risk. Last month, to help Floridians prepare, CFO Sink's outreach coordinators held or participated in more than 40 free disaster preparedness workshops for homeowners and business owners, and will continue to offer the free workshops through the end of the season.
Top 3 Reasons that Insurance Claims are Denied:
- Insufficient documentation.
- Lack of adequate insurance coverage.
- Failure to retain proof of damage.
Property owners need to understand that flood damage is not covered by standard insurance policies, even when the flood is caused by a hurricane. Flood policies are written by the National Flood Insurance Program exclusively. For more information about flood insurance, visit the NFIP Web site at www.floodsmart.gov.
The theme of the Department's disaster preparedness workshops is "Insure, Secure, Recover," and feature presentations that walk Floridians through the steps they should take and the questions they should ask their insurance agent to ensure their property and their families are protected. To request an event or to view the schedule of outreach events in your area, visit www.MyFloridaCFO.com or call (850) 413-3089 or toll-free at 1-877-My-FL-CFO (1-877- 693-5236)
Gov. Charlie Crist has vetoed the state's omnibus property insurance bill
Despite the urgings of Florida Insurance Commissioner Kevin McCarty and others,
Gov. Charlie Crist has vetoed the state's omnibus property insurance bill passed at the close of the 2010 legislative session.
Contending that SB 2044 (http://tinyurl.com/364d3w3) was unfriendly to consumers, Gov. Crist noted in particular that he was "most concerned about the expansion of the current expedited rate filing procedures for property insurers" and wrote that the bill makes "troubling changes in the way mitigation discounts are applied."
Those two changes were high on the "want list" of property insurers, along with language in the bill seeking to rein in the length of time that public adjusters could file claims on behalf of homeowners.
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| TAX PREP EARN $300.00 PER HOUR |
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SPECIALTY INSURANCE AGENTS ASSOCIATION MEMBERSHIP AND BENEFITS | | WHY SHOULD I BE A MEMBER OF SPECIALTY INSURANCE AGENTS ASSOCIATION ?
Benefits of being a member of an agent's organization
- Being a member of an Association provides strength to the industry.
- Specialty Insurance Agents Association provided assistance to agents in getting their agencies licensed.
- Specialty Insurance Agents provided the classroom course for agents to meet their Citizens Insurance requirements.
- UNITE
- Higher commissions through our flood program. We have negotiated a flood program paying the agency 20% on new business and 20% on renewal business plus 1% to your ASSOCIATION. You can sign up to write flood insurance even if you don't have a homeowners market.
- E & O INSURANCE available
- Annual convention and trade fair.
- Members can receive FREE CE credits on all classes offered at convention.
- Board Members available to assist members with questions or problems.
- Assistance in obtaining appointments with companies. At the annual convention/trade fair there are several dozen participating companies looking to appoint agents. While appointments cannot be guaranteed, we can initiate an introduction for you to the marketing staff of these companies.
Want to become a member of Specialty Insurance Agents Association? Just call to receive the new membership application emailed, faxed or download form today. Don't delay call Susan Graves at 1-888-290-8436
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- WE WANT TO KNOW WHAT YOU WANT.
- ARE THERE SOME OTHER TOPICS YOU WOULD LIKE TO SEE IN THE UNITE?
- REMEMBER WE PUBLISH THIS FOR YOU.
- SO CALL US OR EMAIL TODAY WITH YOUR IDEAS.
- WE ARE A BOARD OF TWELVE , FROM DIVERSE TYPES OF AGENCIES, WITH MORE THAN 150 YEARS OF EXPERIENCE.
YOUR BOARD 2009-2010
SHANE GRIFFIS- President
MARC PEASE - Vice President / UNITE PUBLISHER
PAT LORELLO - Treasurer
FRAN COLUCCI - Secretary / UNITE EDITOR
KIDSON BARNES - Board Member
JENNIFER CREVIER - BOARD MEMBER
SUSAN GRAVES - Board Member / ED
DEBORAH GREY - BOARD MEMBER
MARCUS HANIMAN - Board Member
MICHELLE MOSHER - Board Memeber
CURTIS TYRE - Board Member
ARNIE VASQUEZ - Board Member
Have a question for the board EMAIL or CALL us today.
EMAIL info@specialtyinsuranceagents.org
CALL 1-888-290-8436
Sincerely,
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SPECIALTY INSURANCE AGENTS ASSOCIATION
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