I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
most of the nonsense coming out of Gallaghers mouth revolves around his inability or unwillingness to accept the basic premise of a competitive marketplace. the other sad fact is that many Floridians are just too stupid or gullible to fail to realize that issueing “feel good fluff” about IA’s and Citizens pull out program is just a smokescreen to hide the real issue.
The real issue is that if you live on a giant sandbar that nature will restore to it’s virgin state periodicly you are not going to pay for insurance at the same rate someone who lives in the midwest and the greatest severity hazard you face is a tornado that wipes out less than 1/100th of the insured property in a county even in a f-5 class event.
putting this in simple dollars. If you live in a million dollar home near the water you should expect to pay more than the 5-7K a year you pay. Mandating that insuerers cover wind is about like Gallagher ordering no more hurricanes. Just makes you look stupid. If you are going to take on excessive risk there must be an excessive rate of return. Thats the only way you will attract more competent carriers and employees over the long run.
People like Victor need to open their own insurance companies. I am sure he will have no problem in attacting customers.
I think you have it wrong … These responses show the “blame” issues of today’s world… everthing from calling IA’s over the hill to being stupid… None of “blame” solves the problems encountered this storm season. There were four Hurricanes in a row… Everyone was overwhelmed with work, company staff as well as IA’s… That is the fact … Gallagher is protecting his job and saying what needs to be said to keep his position … the companies large, small or ? did the best they could do under these terrible circumstances … I think the IA’s did a service to the people of Florida and worked tirelessly seven days a week to help get people back in one piece… whether you are 20 or 80 a good job was done considering the volume of property claims with all of the companies including Citizens … And most adjusters (exclude public adjusters) did not get rich or overpaid …
Some people just like to bad mouth others to feed their psychological inferiority complex hangups of those who constantly criticize others.
Even in the adjusting business there are those so called legends in their own minds who constantly outdown others in the business displaying their own inferior complexes.
These flynthead knuckleheaded idiots who constantly put down others as incompetent need to examine their own mirror to find the guilty inept ones espec those longwinded morons on the internet sites spewing their crap with nothing better to do.
Like they say the smellers the feller.
Boy! I wish I was one of those highly paid IA’s! I was there for almost eight weeks before the TPA I worked for sent me my first check from Citizen’s … a whole $1,000! And I am still waiting for almost $5,000, two months after returning home. After expenses, I netted about $22/hour…before taxes and social security. But…I am ready to go again Bring it on!
And for that young whippersnapper who mentioned old retirees who won’t climb on roofs: I am coming up on 60, climbed a lot of roofs, and will climb some more as soon as possible. Young fellow: just drop by some morning at 5:30 when I get up to work out for an hour at least five days a week. Then we can compare old in years or ability. I may not be as good as I once was, but I’m still not easy.
Having dealt with my fair share of adjusters as a result of serious damage to my home by Ivan, I can assure you that the problem is NOT the adjusters. Citizens is playing a shell game, moving files from one adjuster to another to avoid or delay having to pay a fair and proper claim.
I’m just wondering how much longer the IA’s are going to put up with doing all the work, only to have the file pulled by Citizens and given to another adjuster.
Example:
Adjuster #1 shows up in November, writes up the claim, and submits it to Citizens in December. Citizens claims not to have received it, pulls the file, and gives it to
Adjuster #2, who shows up WITH ADJUSTER #1’s FILE IN HAND and proceeds to write it up again without taking a single measurement or photograph.
Two weeks later comes Adjuster #3, with same file in hand. #3 calls me three weeks later to inform me that Citizens is playing games with his files too.
The State appears to be once again crippling what could potentially be the best opportunity to move policies out of Citizens and into the hands of admitted carriers in the State.
While I recognize that the article only covers a portion of the State Treasurer’s comments, the thought that a potential “take out” company is required to maintain a piece of business for 5 years is pretty scary, especially when you look at the average risk in the Citizen’s pool that’s available, as well as it’s location. Nothing is being said about the ability to non-renew for avoidable frequency claims or what will happen if the policy voluntarily rolls off of the carrier’s books.
Looking back on the period between 1996 (when take-out/keep-out programs began) and 1999, the FRPCJUA was taken from nearly a million policies down into the low 200’s or perhaps even lower. This was the result of a tiered bonus structure for the take out of policies with mandates as to geographic spread and the three year retention requirement. Now, of course, the WUA was lumped in and that added a significant number of policies back into the pool, not to mention much of the coastal commercial business that most of the big boys don’t want to touch. However, if the take our carriers are allowed to pull those policies at the “actuarially sound” rates as defined by the Citizen’s charter (based on top 10% of all writers in the state), and the three year retention limit is in place, this program could once again be a boon to Florida’s limping Property market.
From an industry/carrier’s position, the largest issues looming are whether we can finally get a reasonable bench to look at Mierzwa and how the DFS plans to respond to requests for additional premium if carriers are expected to pay replacement cost of lost/damaged items at the outset of the claim, as well as the ever increasing frequency and severity related to sinkholes and their testing/remediation.
I know this is lengthy, and despite my words above I have a world of respect for Mr. Gallagher, Mr. McCarty and the DFS. I have worked closely with them in the past and I know that they want what we want… a healthy indusry. However, this is not a time to be campaigning for the next political role. This is a time when we need to fortify an industry that is, more and more, looking at Florida and deciding that this is not a place where they want to do business. Look at Allstate Floridian and their dumping of 85,000+ policies. How long will it be before Travellers decides that First Floridian is not worth it, State Farm Florida and Florida Farm Bureau and Auto Owners begin to think that it’s time to cut their losses and move on down the road?
Murphy would probably look at the timing around that and say… “and you thought FOUR storms was bad???”.
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I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
I believe Mr. Commisioner needs to look at the problem whereby the TPA’s were not paying their adjusters, as they had not been paid by Citizens. I know of many IA who bailed out after not getting paid by the third month. Possibly a problem with undercapitalized TPA’s but the standard of the IA industry is “you get paid when we get paid”. State employees or staff Citizens employees would not even think about working 90 hrs a week for 12 weeks without pay.
Amen !
most of the nonsense coming out of Gallaghers mouth revolves around his inability or unwillingness to accept the basic premise of a competitive marketplace. the other sad fact is that many Floridians are just too stupid or gullible to fail to realize that issueing “feel good fluff” about IA’s and Citizens pull out program is just a smokescreen to hide the real issue.
The real issue is that if you live on a giant sandbar that nature will restore to it’s virgin state periodicly you are not going to pay for insurance at the same rate someone who lives in the midwest and the greatest severity hazard you face is a tornado that wipes out less than 1/100th of the insured property in a county even in a f-5 class event.
putting this in simple dollars. If you live in a million dollar home near the water you should expect to pay more than the 5-7K a year you pay. Mandating that insuerers cover wind is about like Gallagher ordering no more hurricanes. Just makes you look stupid. If you are going to take on excessive risk there must be an excessive rate of return. Thats the only way you will attract more competent carriers and employees over the long run.
People like Victor need to open their own insurance companies. I am sure he will have no problem in attacting customers.
I think you have it wrong … These responses show the “blame” issues of today’s world… everthing from calling IA’s over the hill to being stupid… None of “blame” solves the problems encountered this storm season. There were four Hurricanes in a row… Everyone was overwhelmed with work, company staff as well as IA’s… That is the fact … Gallagher is protecting his job and saying what needs to be said to keep his position … the companies large, small or ? did the best they could do under these terrible circumstances … I think the IA’s did a service to the people of Florida and worked tirelessly seven days a week to help get people back in one piece… whether you are 20 or 80 a good job was done considering the volume of property claims with all of the companies including Citizens … And most adjusters (exclude public adjusters) did not get rich or overpaid …
Some people just like to bad mouth others to feed their psychological inferiority complex hangups of those who constantly criticize others.
Even in the adjusting business there are those so called legends in their own minds who constantly outdown others in the business displaying their own inferior complexes.
These flynthead knuckleheaded idiots who constantly put down others as incompetent need to examine their own mirror to find the guilty inept ones espec those longwinded morons on the internet sites spewing their crap with nothing better to do.
Like they say the smellers the feller.
Boy! I wish I was one of those highly paid IA’s! I was there for almost eight weeks before the TPA I worked for sent me my first check from Citizen’s … a whole $1,000! And I am still waiting for almost $5,000, two months after returning home. After expenses, I netted about $22/hour…before taxes and social security. But…I am ready to go again Bring it on!
And for that young whippersnapper who mentioned old retirees who won’t climb on roofs: I am coming up on 60, climbed a lot of roofs, and will climb some more as soon as possible. Young fellow: just drop by some morning at 5:30 when I get up to work out for an hour at least five days a week. Then we can compare old in years or ability. I may not be as good as I once was, but I’m still not easy.
Having dealt with my fair share of adjusters as a result of serious damage to my home by Ivan, I can assure you that the problem is NOT the adjusters. Citizens is playing a shell game, moving files from one adjuster to another to avoid or delay having to pay a fair and proper claim.
I’m just wondering how much longer the IA’s are going to put up with doing all the work, only to have the file pulled by Citizens and given to another adjuster.
Example:
Adjuster #1 shows up in November, writes up the claim, and submits it to Citizens in December. Citizens claims not to have received it, pulls the file, and gives it to
Adjuster #2, who shows up WITH ADJUSTER #1’s FILE IN HAND and proceeds to write it up again without taking a single measurement or photograph.
Two weeks later comes Adjuster #3, with same file in hand. #3 calls me three weeks later to inform me that Citizens is playing games with his files too.
Does this sound like an IA problem?????
The State appears to be once again crippling what could potentially be the best opportunity to move policies out of Citizens and into the hands of admitted carriers in the State.
While I recognize that the article only covers a portion of the State Treasurer’s comments, the thought that a potential “take out” company is required to maintain a piece of business for 5 years is pretty scary, especially when you look at the average risk in the Citizen’s pool that’s available, as well as it’s location. Nothing is being said about the ability to non-renew for avoidable frequency claims or what will happen if the policy voluntarily rolls off of the carrier’s books.
Looking back on the period between 1996 (when take-out/keep-out programs began) and 1999, the FRPCJUA was taken from nearly a million policies down into the low 200’s or perhaps even lower. This was the result of a tiered bonus structure for the take out of policies with mandates as to geographic spread and the three year retention requirement. Now, of course, the WUA was lumped in and that added a significant number of policies back into the pool, not to mention much of the coastal commercial business that most of the big boys don’t want to touch. However, if the take our carriers are allowed to pull those policies at the “actuarially sound” rates as defined by the Citizen’s charter (based on top 10% of all writers in the state), and the three year retention limit is in place, this program could once again be a boon to Florida’s limping Property market.
From an industry/carrier’s position, the largest issues looming are whether we can finally get a reasonable bench to look at Mierzwa and how the DFS plans to respond to requests for additional premium if carriers are expected to pay replacement cost of lost/damaged items at the outset of the claim, as well as the ever increasing frequency and severity related to sinkholes and their testing/remediation.
I know this is lengthy, and despite my words above I have a world of respect for Mr. Gallagher, Mr. McCarty and the DFS. I have worked closely with them in the past and I know that they want what we want… a healthy indusry. However, this is not a time to be campaigning for the next political role. This is a time when we need to fortify an industry that is, more and more, looking at Florida and deciding that this is not a place where they want to do business. Look at Allstate Floridian and their dumping of 85,000+ policies. How long will it be before Travellers decides that First Floridian is not worth it, State Farm Florida and Florida Farm Bureau and Auto Owners begin to think that it’s time to cut their losses and move on down the road?
Murphy would probably look at the timing around that and say… “and you thought FOUR storms was bad???”.