Hey, I hear that Citizens is going to cut rates in half in Florida and offer coverages that were not available before, this is as likely to happen as the markets not collapsing in the entire Gulf coast areas. can any one explain why FEMA / NFIP decided 20 some years ago that one block off the Gulf of Mexico would be classed as a “C” flood zone? Someone has some splaining to do, the wind coverage concept is clever, coverage is provided on the dec page for the hazard but underwriten and handled by MWUA (Mississippi wind underwriting assoc) at least this way coverage is there and not on a seperate policy to be lost and not paid (as happens in Florida) maybe they should consider this for flood. The homeowners carrier collect the premium on the HO3, HO6 etc and forwards to the flood division, simple coverage on one policy, little room for screw ups and customers don’t blame agents for not selling coverage they did not want and would not have bought if given the option. The agents biggest problem is protecting insureds from their own dumb decisions to save money.
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Hey, I hear that Citizens is going to cut rates in half in Florida and offer coverages that were not available before, this is as likely to happen as the markets not collapsing in the entire Gulf coast areas. can any one explain why FEMA / NFIP decided 20 some years ago that one block off the Gulf of Mexico would be classed as a “C” flood zone? Someone has some splaining to do, the wind coverage concept is clever, coverage is provided on the dec page for the hazard but underwriten and handled by MWUA (Mississippi wind underwriting assoc) at least this way coverage is there and not on a seperate policy to be lost and not paid (as happens in Florida) maybe they should consider this for flood. The homeowners carrier collect the premium on the HO3, HO6 etc and forwards to the flood division, simple coverage on one policy, little room for screw ups and customers don’t blame agents for not selling coverage they did not want and would not have bought if given the option. The agents biggest problem is protecting insureds from their own dumb decisions to save money.