Strong Tower Insurance, an insurance agency based in Florida, has launched a new interactive marketing campaign in an attempt to broaden insurance coverage throughout the state. The agency has built a new website that will help consumers connect with the company and find policies that suit their needs. The website will serve as a virtual marketplace akin to the ones that will be set up in each state by health insurance exchanges. Instead of encompassing the whole of the state’s insurance companies, however, the policies found through the website will…
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Florida to host a series of meetings of insurance and consumer representatives to solve problems with PIP system
The Florida state government will be facilitating a series of meetings to resolve an issue with the state’s personal injury protection (PIP) insurance law. Insurers, medical professionals, state officials and representatives from a number of consumer advocacy groups will be attending the meetings and working together to find some resolution to the issue. Currently, PIP insurance is required throughout Florida, which has spurred rampant fraud in the state. Through the meetings, the groups will conclude whether the PIP system should be reformed or abolished altogether. Fraud has plagues Florida’s PIP…
Read MoreFlorida’s Citizens Insurance will limit rate increase over the next several years
Earlier this year, Florida’s largest home insurance company, Citizens Property Insurance Corp., proposed the largest rate increase in the state’s history. The company sought to increase the average rates of insurance policies for homes and business by 400% throughout the state, along with a proposed 2,000% increase for certain, risk-prone counties. The proposal was opposed by several consumer advocacy groups, but that opposition proved futile as state insurance regulators approved the proposal. Since the approval, lawmakers have been struggling to find a balance between enacting the rate increase and granting…
Read MoreAuto insurance fraud on the rise – a call for serious change in Florida insurance system
Florida continues to combat auto insurance fraud despite new measures introduced to combat the problem. While the number of accidents in the state is on the decline, the occurrence of fraud continues to grow. Insurance Commissioner Kevin McCarty claims that widespread fraud has led to premiums for auto insurance to soar by $900 million since 2008. The mounting problem has lit a fire beneath Governor Rick Scott, who is now petitioning the state Legislature to make changes to both the insurance industry and its regulations to put an end to…
Read MoreFlorida opposes Affordable Care Act, Governor rejects millions in grants
There seems to be no end to the controversy birthed from health care reform. In the months leading up to the 2010 Affordable Care Act, legislators from many states rallied together to oppose the impending law. This opposition continued after the law’s passage and there are no signs of peace on the horizon. The federal law has quite a few mandates that states are required to adhere to or risk defaulting certain powers to the government, but that has not stopped Florida from rebelling against the health care law. The…
Read MoreRegardless of tornado losses, Allstate posts better results than predicted
The largest publicly traded American home and auto insurance company, Allstate Corp., has posted its losses for the second quarter, following catastrophe expenses that broke insurance industry records; but its results weren’t as bad as had been predicted. Allstate’s catastrophe losses reached $2.34 billion, making that quarter one of the worst in the entire history of the company. It had already been anticipating significant losses as a result of April and May’s tornado and severe weather activity in the United States. That said, analysts had not anticipated the revenue to…
Read MoreFlorian Insurance seeks to educate Floridians on insurance via website and Virtual Insurance Office
With the severity of recent storms in the South, residents of Florida have been growing concerned about their insurance coverage. Now that hurricane season is in full swing – a season that the National Oceanic and Atmospheric Administration claims will be unusually active – many have unanswered questions about their coverage and whether or not they are protected in the worst case scenario. Local insurer Florian Insurance, Inc., is seeking to placate people’s worries by offering advice and insight on insurance operations. According to the Independent Insurance Agents and Brokers…
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