It will be interesting to see how many participants sign up for an insurance product with a newly formed company that automatically adds 10% to the annual premium to support surplus and the repayment of the surplus notes to outside investors. Floridians seem to be resistant to paying the actual cost of insurance; I don’t see them wanting to pay more to pay off an investor group.
New firms always protect the capital at risk first. The policyholders have their insurance coverage at risk so they should be the only capital investors for a 10% capital and surplus dividend equity out of their own 401k or Ira on a monthly basis. Agents and Brokers could also help fund the company they represent. building a contingency fund for additional business income aquisition’s such as REinsurance, and affinity cash flow industries can be considered. Policyholders must realize that insurance protection is a business and is highly regulated. Guaranteed coverage is not an entitlement. No insurance, No mortgage lenders. No sales.
The new company’s website takes you straight to Cabrillo Coastal once you select “Search for an Agent.” That doesn’t seem very new to me. I already have Cabrillo Coastal and rates have increased by more than 57% without having any claims in the 3 years I’ve had them.
I was dumped by Progressive and my new agency here in Sarasota, Peeples Insurance Agency steered me to Orange Ins Exchange. I think the idea of paying a surplus fee of 10% of my premium is a good idea. Cabrillo Costal has been great in setting up my account and I love my portal with them.
As to Progressive and the many others who have opted out, Good Riddance!
Welcome back to Florida, hopefully you will stay here for long with a mutually beneficial relationship with your subscribers.
It will be interesting to see how many participants sign up for an insurance product with a newly formed company that automatically adds 10% to the annual premium to support surplus and the repayment of the surplus notes to outside investors. Floridians seem to be resistant to paying the actual cost of insurance; I don’t see them wanting to pay more to pay off an investor group.
Cabrillo Coastal ? momma said do not say anything at all, if nothing good to say…….
New firms always protect the capital at risk first. The policyholders have their insurance coverage at risk so they should be the only capital investors for a 10% capital and surplus dividend equity out of their own 401k or Ira on a monthly basis. Agents and Brokers could also help fund the company they represent. building a contingency fund for additional business income aquisition’s such as REinsurance, and affinity cash flow industries can be considered. Policyholders must realize that insurance protection is a business and is highly regulated. Guaranteed coverage is not an entitlement. No insurance, No mortgage lenders. No sales.
The new company’s website takes you straight to Cabrillo Coastal once you select “Search for an Agent.” That doesn’t seem very new to me. I already have Cabrillo Coastal and rates have increased by more than 57% without having any claims in the 3 years I’ve had them.
I was dumped by Progressive and my new agency here in Sarasota, Peeples Insurance Agency steered me to Orange Ins Exchange. I think the idea of paying a surplus fee of 10% of my premium is a good idea. Cabrillo Costal has been great in setting up my account and I love my portal with them.
As to Progressive and the many others who have opted out, Good Riddance!
is your home older than 20 years old? did you have to do an inspection before or after writing the policy? thanks!