Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims

By | May 3, 2016

  • May 3, 2016 at 11:40 am
    Gregg Golson says:
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    This is a serious crisis. At Bracken Engineering we are doing our part by helping adjusters learn how to interpret the Florida Building Code and teaching them the basics of infrared thermography use in water investigations.

  • May 3, 2016 at 11:55 am
    LauraG says:
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    As agents in South Florida, We have been seeing this trend develop over the past couple years. I am angry, frustrated and sad to see that it has taken for this problem to become a Catastrophe before the state and legislators take note and start to seriously address the problem. The cash cow the AOB attorneys, contractors and others have been milking will be running dry soon. Unfortunately it is the consumers that will be paying the price for years to come. Always the few bad that ruin it for the rest of us.
    FRAUD IS A CRIME – many people feel its no big deal to pad a claim and collect extra money from the company but it IS ILLEGAL and this is why are rates are so high in South Florida! Start saving now the price increases are coming

    • May 6, 2016 at 1:32 pm
      I M Dunn says:
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      My friend’s public adjuster padded her claim so well that she gave him a bonus and was able to get her repairs done and buy a car – insane!

      • May 11, 2016 at 1:41 pm
        Adjuster says:
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        Thank your friend and her public adjuster for making your homeowners premium increase. Everyone should report fraud in their area. Nothing is free. After 2 water losses you should only be able to purchase a policy that doesn’t cover water. You would think all the carriers would get wise and only issue policies with no water coverage in south Florida. It may stop the fraud.

    • May 25, 2016 at 11:56 am
      Agent says:
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      LauraG, as an agent in South Florida, have you witnessed flooding from rising seas in Miami yet? The news hasn’t reported it yet and the Progressives need a report. The last pro golf tournament I saw was at Doral and they didn’t seem to be having any trouble at all staying dry.

  • May 3, 2016 at 1:37 pm
    vox sanitus says:
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    It is in the nature of the hacks, hucksters and lawyers to pull on that teat until they kill the cow.

    • May 3, 2016 at 2:05 pm
      Agent says:
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      1000 lawyers at the bottom of the Caribbean is a good start.

      • May 3, 2016 at 4:55 pm
        You need new material says:
        Hot debate. What do you think?
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        Q: Why did God invent lawyers?
        A: So agents from texas would have someone to look down on

        • May 3, 2016 at 5:32 pm
          Agent says:
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          Hidden due to low comment rating. Click here to see.

          • May 3, 2016 at 9:00 pm
            Mark says:
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            Shouldn’t you bring up Price Optimization right about now? And how every single company is using it except the ones you’re appointed to write right?

          • May 4, 2016 at 10:59 am
            UW says:
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            Another conspiracy theory where after we take a break from our side-careers of coding vote bots we also create duplicate accounts to attack idiots.

            It should be clear to you by now I have no problem calling you out for being a racist, lying, piece of garbage on my own account. You are becoming so paranoid and delusional I think you might need to be committed when Trump loses.

        • May 4, 2016 at 11:38 am
          Ins Bean Counter says:
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          I think your unprovoked insult is uncalled for. Maybe you’re the one in need of new material.

        • May 6, 2016 at 9:16 am
          Fair Playing Field says:
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          And once again, a serious discussion is derailed by the racist blowhard’s invective.

      • May 4, 2016 at 11:14 am
        UW says:
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        That’s very Christian of you. I loved the part in the Bible where Jesus said it would be good to kill thousands of people based on their profession.

        Tell us again how Muslims are savages prone to violence.

  • May 3, 2016 at 2:36 pm
    Jack Kanauph says:
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    Between this and the recent WC ruling about not allowing lawyers’ fees to be capped, Florida is going to be an expensive state for insurance. Oh wait, it already is….

    • May 3, 2016 at 5:34 pm
      Agent says:
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      Jack, I thought Texas was an expensive property state. Florida is ahead on expensive premiums. The Progressives are also obsessed with the thought of rising seas.

      • May 4, 2016 at 8:45 am
        Captain Planet says:
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        Agent,
        I wouldn’t say Progressives are obsessed with the thought of rising seas, they just aren’t so ignorant to THE FACT THEY ACTUALLY ARE RISING.

      • May 4, 2016 at 9:52 am
        Rosenblatt says:
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        Of course FL is ahead of TX on premiums. In the auto world, you can outright reject PIP in TX but FL requires a MINIMUM of $10K PIP coverage. On the property side, FL is much more likely to be hit by hurricanes than TX. Rates need to be set accordingly.

        • May 4, 2016 at 11:37 am
          Agent says:
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          Florida is also ahead on fraud/crime stories as we see all the time on IJ. They can’t even figure out how to vote in that state. They did put Alan Grayson back in office there and he is about as nasty as it gets.

          • May 4, 2016 at 11:45 am
            Rosenblatt says:
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            Yes, there’s fraud in FL and rates need to be set accordingly with that too.

            So do we agree here? FL rates are higher than TX because of – in no particular order (1) fraud (2) differences in state mandated minimum coverages and (3) higher anticipated CAT loss exposures, just to name 3 variables?

      • May 4, 2016 at 12:21 pm
        Ron says:
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        Well, since there is far less fraud/crime in TX, the reason(s) for the high property rates must be due to one of 2 things:
        a. People are not smart enough to maintain and/or protect their homes from damage; or
        b. Severe weather losses created by God because he/she is mad at Texans.

        I’ll let Agent tell us which one.

        • May 4, 2016 at 1:02 pm
          Agent says:
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          Oh Boy, the insulter in chief is at it again from the state with the highest cost of living in America, the land of the liberal and thousands moving out each year due to the policies of high taxation, high spending. No wonder you can’t get ahead up there.

          By the way, there is no good way to protect a home from Tornado’s or Hail storms or hurricanes that have been a problem in Texas for many years. The fronts come in from the north and meet the warm air of the Gulf and they often clash. Even with that, Texas is far better than the frozen tundra of the N/E. That is why people are still moving here in droves. Also, there is another incentive of no State Income Tax. You should be in favor of that.

          • May 4, 2016 at 3:02 pm
            Ron says:
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            Let the record show that Agent selected; b. Severe weather losses created by God because he/she is mad at Texans.

          • May 4, 2016 at 3:13 pm
            Ron says:
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            Agent,

            Since you are so good at research, I will assume that you already knew that the population of New York has been increasing since at least 2010.

            http://www.census.gov/quickfacts/table/PST045215/36

          • May 5, 2016 at 12:22 am
            UW says:
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            Also, Ron, like literally everything I have ever seen him write that can be fact-checked, it is not true. NY is behind at least Connecticut and Hawaii in every study.

            http://www.cnbc.com/2015/06/24/americas-most-expensive-states-to-live-in-2015.html?slide=11

            Also, to an idiot like Agent income makes no difference, nor does quality of life or personal preferences. Living in an 80,000 person dump, with nothing to do but rant about Obama and drive around is preferable to a place where you can go see museums, art, diverse people, etc.

            But of course, if he went into a place like that he would have to encounter blacks, Mexicans, Muslims, Millenials, data analysts, climate scientists, Jews, atheists, agnostics, Europeans, underwriters, non-agents, non-salesmen, non-men, gay people, trans people, Asian people, people from outside of Texas, Democrats, liberals, socialists, communists, more people younger than him, educated people, non-fascist Republicans, and the many other people he hates.

          • May 6, 2016 at 1:43 pm
            confused says:
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            agent does not seem to comprehend that NY population is increasing. just look at him posting the same drivel on another article. as usual, he ignores facts and keeps posting his lies.
            http://www.insurancejournal.com/news/east/2016/05/05/407669.htm/?comments

    • May 9, 2016 at 11:10 am
      Agent says:
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      Jack, have you ever read some of these Progressive trolls remarks and wondered… who ties their shoelaces for them?

      Ok trolls, downvote to your hearts content.

      • May 10, 2016 at 8:56 am
        Fair Playing Field says:
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        Whereas you wear loafers, right?

        A “troll” is a person who creates discontent and starts arguments on forums by posting inflammatory remarks. Who fits that definition on the IJ forum better than you? No one.

        • May 11, 2016 at 3:09 pm
          Agent says:
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          Who comes onto this forum every workday looking for any comment I make to troll me with their nonsense and then proceed to downvote my comments? I will name all who do it on this article. Fair, Confused, UW, Planet and possibly Ron. 104 upvotes on his nonsense is a bit excessive, don’t you think. One would think there are a lot of arrogant New Yorkers on this blog.

          • May 11, 2016 at 11:35 pm
            Fair Playing Field says:
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            I’ll try to keep this brief as you are obviously a very self-important person.

            There are insurance professionals who do not come here for you. They come here to read about insurance issues and also read, and perhaps possibly participate in, what they should expect will be focused, informed and intelligent discussions of these insurance issues by their peers.

            You, however; constantly derail discussions with your reactionary political non sequiturs and racist, homophobic, misogynistic, generational and – hell – even misanthropic, remarks.

            You also post anecdotal observations and deliberate misinformation (read: lies) as facts, which a number of posters continually disprove, much to your consternation.

            And now you cry, lashing out at those who have grown tired of your stale, tired act and take you to task for it.

            Think about it – if you perceive so many people to be against you, maybe that doesn’t have so much to do with your beliefs as it does with the manner in which you “contribute” to this forum.

          • May 12, 2016 at 2:25 pm
            Godot says:
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            Golf clap, Fair Playing Field, golf clap for you! Well said and so, so very true!

  • May 25, 2016 at 10:53 am
    David Lockhart says:
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    Do not trust companies that immediately force you to sign AOB’s and require upfront cash. This is just common sence. The ripoff artists are becoming a monumental problem.



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