Your article said they are cancelling 2,700 mobile home policies & not any other lines. So far, we have received in our office somewhere between 90 to 100 non renewals from them. Some BOP & homeowners & most of them fire policies. When I called underwriting they told me of some criteria, ex. within 5 miles from the water, certain age of dwelling, etc. However, I don’t think that “criteria” is right, because I have some newly homes in Brandon, Florida been non-renewed.
You can add to the story that Service Ins. Co. has advised that they are non-renewing all personal and commercial business in SC starting in March. Who is next?
Why would any prudent Insurance executive write business in a state with the regulatory and fraud enviroment this state enjoys?
Rate structures here are not driven by the market but some elected petty bureacrat that is using this office as a stepping stone to the governors office. His knowledge is much more complete and unbiased than the free and compettive marketplace.
The fact is that the unique geographic and meteorilogical conditions ensure that almost every home within 5-10 miles of the shoreline will incur damage by wind, hail or lightning within it’s expected life span. This is contrasted sharply by many other areas of the US that do not have these unique and pervasive circumstances.
Mix in Mold (yes I know some part of Florida are dry and windy and thus not conducive to mold growth) and a horrible litigious enviroment and the question becomes not will you lose money but how much?
How would you like it if a company canceled your insurance because you lived in a area that had disaster due to weather? We can not stop the weather and neither can you. I hope you can have a clear conscience when you cancel our policy. I just ask you to pray that God will take care of us when the next hurricane or tornado comes to Florida.
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Your article said they are cancelling 2,700 mobile home policies & not any other lines. So far, we have received in our office somewhere between 90 to 100 non renewals from them. Some BOP & homeowners & most of them fire policies. When I called underwriting they told me of some criteria, ex. within 5 miles from the water, certain age of dwelling, etc. However, I don’t think that “criteria” is right, because I have some newly homes in Brandon, Florida been non-renewed.
You can add to the story that Service Ins. Co. has advised that they are non-renewing all personal and commercial business in SC starting in March. Who is next?
Why would any prudent Insurance executive write business in a state with the regulatory and fraud enviroment this state enjoys?
Rate structures here are not driven by the market but some elected petty bureacrat that is using this office as a stepping stone to the governors office. His knowledge is much more complete and unbiased than the free and compettive marketplace.
The fact is that the unique geographic and meteorilogical conditions ensure that almost every home within 5-10 miles of the shoreline will incur damage by wind, hail or lightning within it’s expected life span. This is contrasted sharply by many other areas of the US that do not have these unique and pervasive circumstances.
Mix in Mold (yes I know some part of Florida are dry and windy and thus not conducive to mold growth) and a horrible litigious enviroment and the question becomes not will you lose money but how much?
How would you like it if a company canceled your insurance because you lived in a area that had disaster due to weather? We can not stop the weather and neither can you. I hope you can have a clear conscience when you cancel our policy. I just ask you to pray that God will take care of us when the next hurricane or tornado comes to Florida.