While I wish this company good luck, they have a lot of potential holes in their model, at least according to this information. When you limit your agency force as much as they plan to, you’d better be a well known, well established company. How do you expect enough production to launch a brand new company with so few agents? What kind of high volume agency would put a lot of policies with a start-up?
These guys should be targeting younger agencies who are willing to take a chance on a new company. There are WAY too many choices for established agents in the middle of the state.
Who? Are they really prepared financially? they forgot to mention financials, reinsurance etc. Hey this is Florida who cares if the companies can pay their claims. Dont worry there is the guarantee fund. lol. I dont care about represtation new agency vs old agency, no agency should be selling a company they would not be covering themselves with.
Would you want to be covered by Prepared?
If they know how to underwrite instead of claims handling they would be smart to offer it to allstate agents or a company or agencies that have statewide exposure especially when they had great relations with for 20+ years. Sounds like UNPREPARED to me.
Which agent would sell a policy that they have no idea whether the carrier could pay their claims. If there is a storm everyone including politicians will be blaming agents for selling a policy through an insolvent carrier. Dont think that if Charlie and Kevin approve a carrier they are good. They are laying down on the job hoping they make it through the next season until he becomes Senator. Shame on FAIA and PIA for not pushing the state to oversee the financial regulation of these carriers as well. They feel dont worry we will be able to assess State Farm for FIGA when the storm hits well that game is about to end. You agents who sell these companies have been warned, you will regret selling them one day. Tell your elected officials you want oversight and new legislation that promotes competition and provides an incentive for A+ (bests) rated carriers to enter the state again. This must get fixed.
I am a responsible agent. I have no choice in the providers I place customers with many times. I know how Citizens pays claims and that’s why I will do everything in my power to keep people out of Citizens.
I’d like to have a half dozen AM Best rated carriers with no capacity issues. Until I do, I have to work with what I’ve got. I do work with several excellent carriers with excellent claims paying history. Unfortunately they don’t have the capacity to serve all of my needs.
It amazes me that people think the state associations should be involved in everything including pushing for MORE regulation. Hey you idiots out there, we have more regulation than we need and it is all worthless. just because a new start up has $10 million in surplus does not mean they are a failure waiting to happen. There is regulation in place to keep them at a certain ratio and when they cross that line they get a little memo that makes them fix it or go into rehab. Don;t knock the small carriers because they are small, knock the big carriers for leaving and not being more agressive with the regulators. The associations are agent associations not carrier associations. Why should agents pay fees to do the work that the carriers should be doing? and is PIA still around in Florida?
I suggest Kevin Mccarty resign now becasue he surely has no chance of survival when his buddy Charlie is no longer Governor.
Get a new regulator and things will get better, they can’t get much worse.
Unfortunately our association is a profit based organization who recieves a great deal of money from education and these start ups at our annual convention they pay a large amount for the booths and parties they hold. Where is the incentive for FAIA to help our market by lobbying for a solution to the current market conditions and create major incentives for larger carriers to stay or reenter the market for property. Large carriers dont want to be here because of fronting the state money through FIGA assessments and being required to buy bonds from the state based on market share in the enevitable case of the state not being able to meet its obligations, and yes there is a problem with over regulation, Why doesnt our associtaion scream and yell about it? Yes there is a PIA and they kick the crap out of FAIA’s instructors with their CIC designations. Their educators are hands down more qualified and the educational programs are much more for the professional agent. Go to a 20 hour CIC institute and tell me what you think. These instructors are flown in from all over the country and are lawyers and all experts in their area of instruction. I feel FAIA hires guys that could not make it in the private marketplace.
As a member of both state associations, I can tell you that Florida PIA is around but they do NOT have superior instructors, they fly them in as you said. so it is another state that has has those instructors. I have attended both PIA and FAIA. The FAIA instructors not only could make it in the private market but they have and they do and they are asked to go all over the country to teach by other organizations. I am guessing that SAM is a plant within the PIA organization or he has never been to an FAIA education class and just sends his money to PIA to get the E&O coverage (oops, forgot they lost Utica)
I am starting to ask myself exactly what PIA is doing with my dues money, they are never around at senate or representative meetings, don’t see them doing much at Citizens meetings, don’t see much education classes being offered. Just paying that lobbyist to do whatever he does that no one knows about. Sorry but I get more out of FAIA than PIA and the convention is a big part of it, but they are also out doing things that PIA doesn’t.
You don’t have to agree but thats my side. But I will also ask how active are YOU in either group, don’t whine if your not involved and giving your opinion to them.
I pay my dues to people who work full time on our behalf. For this money I expect some results. Over the last 15 years I have seen very little results, except our associations following the market instead of acting to help create incentives for the carriers who use to write here to reenter. I dont have time to go to Tallahassee and fight politicians who lead by putting their ears to the ground, nor does any other agent who is activly selling for a living. Show me someone involved and I will show you a guy who has a pipe in his mouth, waiting for someone to ask him if he will sell them insurance. To be successful in insurance you have to take the most sophisticated educational classes and sell. That requires all your time. I ask if you are a Certified Insurance Counselor, sponsored by PIA of Florida, If not I would recommnend you do so and forget FAIA’s educational classes as they are for CSR’s.
Why bother with CIC if I have CPCU.
and if you are so concerned about the initials after your name and have the time to do the classes, do you expect anyone to believe you could not spend a few hours talking to legislators, regulators, etc. It has more affect than belly aching about how bad things are becasue the people you PAY dues to aren’t getting it done for you.
Get involved now before you have all the time in the world because the markets are completely gone. I don;t care what assoication it is, just do something and quit sucking off the welfare of other agents that ARE doing it for you.
Hey did you hear there is a new carrier in Florida that wants to write older homes, now you have an option to place those risks that Travelers, Auto owners, Hartford, Safeco, and dozens of other carriers will no longer write. and you don’t have to go to Citizens and get paid pennies. And this carrier is restricted with the same regulation that all the other carriers are.
I agree with Sam, Jim CPCU is for insurance carrier underwriters. Once you obtain it, your pretty much done. Your education is over and very little in the way of continuing ed offered. CIC is for the professional insurance producer and an annual obligation to continuing education. I say why bother with CPCU. Jim you must not have attended a CIC institute 20 hours of professional instruction followed by an exam. Then you go back to your life. Whereas with the CPCU you pretty much are on your own for a 5 year period, all this proves is you are certainly dedicated but not necessarily educated in insurance sales and the lates policy forms and endorsements.
I have a 62 year old home that has been upgraded and enlarged in the 1970’s. I had homeowners insurance for 13 years with one company when the policy was cancelled. The reasons for cancelling
and the reasons for the subsiquent cancellations or refusal to write a policy have been so inconsistant that compliance has not been possible. The latest notice states noncompilance with underwriting requirments that my agent was not aware of. I have never received a prior notice of requested improvements that could be made to reduce the risks of property damage or libility. In all cases just a notice of cancellation with a date. When my agent calls for explanation she was told it was not allowed to have an RV parked on my open rural zoned 3 plus acres. The houses built years ago in Florida and the costal area were built stronger than they needed to be in most cases. Some electrical components that carried the UL listing have proven to be not so good and need correction, but I do not know of any program to do this other than cancelling peoples insurance polocies. If the insurance company would work more with there customers than against them they may see there risks reduced somewhat. However Insurance is a risk business, perhaps I should be looking at a Las Vegas based insurance company for coverage.
we have a sink hole we were told by prepared that our claim was approved its been 7 months and we have not received a letter of confirmation from the co. We are afraid for the safety of our family
I am shopping for home insurance. I do not want just the cheapest premium because of you are well behaved as long as all you have to do is hold your hand out while I put a check in it. Many of you seem to have forgotten the fundamental bargain of insurance: I will pay you a little over a long period of time and IN
EXCHANGE you will be there for me when there is a catastrophe that is beyond my modest means to handle. I had Sunshine Insurance –they cancelled after 5 years–not because I had made a claim or been difficult–because they.wanted to keep the money they had not earned. “SUNSHINE” is the perfect name for so many of you. Grow up. Get you big boy pants on and perform your side of the deal.
great company until you have a small claim and they cancel you!!!! they collected my premiums every year with no problem and this is how they show their appreciation for my business. STAY AWAY!!!!
While I wish this company good luck, they have a lot of potential holes in their model, at least according to this information. When you limit your agency force as much as they plan to, you’d better be a well known, well established company. How do you expect enough production to launch a brand new company with so few agents? What kind of high volume agency would put a lot of policies with a start-up?
These guys should be targeting younger agencies who are willing to take a chance on a new company. There are WAY too many choices for established agents in the middle of the state.
Who? Are they really prepared financially? they forgot to mention financials, reinsurance etc. Hey this is Florida who cares if the companies can pay their claims. Dont worry there is the guarantee fund. lol. I dont care about represtation new agency vs old agency, no agency should be selling a company they would not be covering themselves with.
Would you want to be covered by Prepared?
If they know how to underwrite instead of claims handling they would be smart to offer it to allstate agents or a company or agencies that have statewide exposure especially when they had great relations with for 20+ years. Sounds like UNPREPARED to me.
PREPARED to go belly up
Which agent would sell a policy that they have no idea whether the carrier could pay their claims. If there is a storm everyone including politicians will be blaming agents for selling a policy through an insolvent carrier. Dont think that if Charlie and Kevin approve a carrier they are good. They are laying down on the job hoping they make it through the next season until he becomes Senator. Shame on FAIA and PIA for not pushing the state to oversee the financial regulation of these carriers as well. They feel dont worry we will be able to assess State Farm for FIGA when the storm hits well that game is about to end. You agents who sell these companies have been warned, you will regret selling them one day. Tell your elected officials you want oversight and new legislation that promotes competition and provides an incentive for A+ (bests) rated carriers to enter the state again. This must get fixed.
I am a responsible agent. I have no choice in the providers I place customers with many times. I know how Citizens pays claims and that’s why I will do everything in my power to keep people out of Citizens.
I’d like to have a half dozen AM Best rated carriers with no capacity issues. Until I do, I have to work with what I’ve got. I do work with several excellent carriers with excellent claims paying history. Unfortunately they don’t have the capacity to serve all of my needs.
It amazes me that people think the state associations should be involved in everything including pushing for MORE regulation. Hey you idiots out there, we have more regulation than we need and it is all worthless. just because a new start up has $10 million in surplus does not mean they are a failure waiting to happen. There is regulation in place to keep them at a certain ratio and when they cross that line they get a little memo that makes them fix it or go into rehab. Don;t knock the small carriers because they are small, knock the big carriers for leaving and not being more agressive with the regulators. The associations are agent associations not carrier associations. Why should agents pay fees to do the work that the carriers should be doing? and is PIA still around in Florida?
I suggest Kevin Mccarty resign now becasue he surely has no chance of survival when his buddy Charlie is no longer Governor.
Get a new regulator and things will get better, they can’t get much worse.
Unfortunately our association is a profit based organization who recieves a great deal of money from education and these start ups at our annual convention they pay a large amount for the booths and parties they hold. Where is the incentive for FAIA to help our market by lobbying for a solution to the current market conditions and create major incentives for larger carriers to stay or reenter the market for property. Large carriers dont want to be here because of fronting the state money through FIGA assessments and being required to buy bonds from the state based on market share in the enevitable case of the state not being able to meet its obligations, and yes there is a problem with over regulation, Why doesnt our associtaion scream and yell about it? Yes there is a PIA and they kick the crap out of FAIA’s instructors with their CIC designations. Their educators are hands down more qualified and the educational programs are much more for the professional agent. Go to a 20 hour CIC institute and tell me what you think. These instructors are flown in from all over the country and are lawyers and all experts in their area of instruction. I feel FAIA hires guys that could not make it in the private marketplace.
As a member of both state associations, I can tell you that Florida PIA is around but they do NOT have superior instructors, they fly them in as you said. so it is another state that has has those instructors. I have attended both PIA and FAIA. The FAIA instructors not only could make it in the private market but they have and they do and they are asked to go all over the country to teach by other organizations. I am guessing that SAM is a plant within the PIA organization or he has never been to an FAIA education class and just sends his money to PIA to get the E&O coverage (oops, forgot they lost Utica)
I am starting to ask myself exactly what PIA is doing with my dues money, they are never around at senate or representative meetings, don’t see them doing much at Citizens meetings, don’t see much education classes being offered. Just paying that lobbyist to do whatever he does that no one knows about. Sorry but I get more out of FAIA than PIA and the convention is a big part of it, but they are also out doing things that PIA doesn’t.
You don’t have to agree but thats my side. But I will also ask how active are YOU in either group, don’t whine if your not involved and giving your opinion to them.
I pay my dues to people who work full time on our behalf. For this money I expect some results. Over the last 15 years I have seen very little results, except our associations following the market instead of acting to help create incentives for the carriers who use to write here to reenter. I dont have time to go to Tallahassee and fight politicians who lead by putting their ears to the ground, nor does any other agent who is activly selling for a living. Show me someone involved and I will show you a guy who has a pipe in his mouth, waiting for someone to ask him if he will sell them insurance. To be successful in insurance you have to take the most sophisticated educational classes and sell. That requires all your time. I ask if you are a Certified Insurance Counselor, sponsored by PIA of Florida, If not I would recommnend you do so and forget FAIA’s educational classes as they are for CSR’s.
Why bother with CIC if I have CPCU.
and if you are so concerned about the initials after your name and have the time to do the classes, do you expect anyone to believe you could not spend a few hours talking to legislators, regulators, etc. It has more affect than belly aching about how bad things are becasue the people you PAY dues to aren’t getting it done for you.
Get involved now before you have all the time in the world because the markets are completely gone. I don;t care what assoication it is, just do something and quit sucking off the welfare of other agents that ARE doing it for you.
Hey did you hear there is a new carrier in Florida that wants to write older homes, now you have an option to place those risks that Travelers, Auto owners, Hartford, Safeco, and dozens of other carriers will no longer write. and you don’t have to go to Citizens and get paid pennies. And this carrier is restricted with the same regulation that all the other carriers are.
I agree with Sam, Jim CPCU is for insurance carrier underwriters. Once you obtain it, your pretty much done. Your education is over and very little in the way of continuing ed offered. CIC is for the professional insurance producer and an annual obligation to continuing education. I say why bother with CPCU. Jim you must not have attended a CIC institute 20 hours of professional instruction followed by an exam. Then you go back to your life. Whereas with the CPCU you pretty much are on your own for a 5 year period, all this proves is you are certainly dedicated but not necessarily educated in insurance sales and the lates policy forms and endorsements.
I have a 62 year old home that has been upgraded and enlarged in the 1970’s. I had homeowners insurance for 13 years with one company when the policy was cancelled. The reasons for cancelling
and the reasons for the subsiquent cancellations or refusal to write a policy have been so inconsistant that compliance has not been possible. The latest notice states noncompilance with underwriting requirments that my agent was not aware of. I have never received a prior notice of requested improvements that could be made to reduce the risks of property damage or libility. In all cases just a notice of cancellation with a date. When my agent calls for explanation she was told it was not allowed to have an RV parked on my open rural zoned 3 plus acres. The houses built years ago in Florida and the costal area were built stronger than they needed to be in most cases. Some electrical components that carried the UL listing have proven to be not so good and need correction, but I do not know of any program to do this other than cancelling peoples insurance polocies. If the insurance company would work more with there customers than against them they may see there risks reduced somewhat. However Insurance is a risk business, perhaps I should be looking at a Las Vegas based insurance company for coverage.
we have a sink hole we were told by prepared that our claim was approved its been 7 months and we have not received a letter of confirmation from the co. We are afraid for the safety of our family
I am shopping for home insurance. I do not want just the cheapest premium because of you are well behaved as long as all you have to do is hold your hand out while I put a check in it. Many of you seem to have forgotten the fundamental bargain of insurance: I will pay you a little over a long period of time and IN
EXCHANGE you will be there for me when there is a catastrophe that is beyond my modest means to handle. I had Sunshine Insurance –they cancelled after 5 years–not because I had made a claim or been difficult–because they.wanted to keep the money they had not earned. “SUNSHINE” is the perfect name for so many of you. Grow up. Get you big boy pants on and perform your side of the deal.
great company until you have a small claim and they cancel you!!!! they collected my premiums every year with no problem and this is how they show their appreciation for my business. STAY AWAY!!!!