Olympus Is Latest Insurer Under Scrutiny by Florida Regulators

April 12, 2010

  • April 12, 2010 at 3:57 am
    Hillsborough agent says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Agent,
    Yes, Geovera is E&S. Unfortunately, Bankers won’t write in Hillsborough although we do quite a bit of commercial with them.

    Polk County is next on the sinkhole hit parade. Smoke em while you got em, I guess.

  • April 12, 2010 at 4:06 am
    Agent says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Hillsborough agent, We are already getting hit with the sinkholes here. Adjusters have been going door to door and the ads are rolling in.

  • April 12, 2010 at 4:06 am
    Funny_Name says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    If the company was paying commission a third party a commission in excess of a contracted percentage, its independent auditors should have noted that well before OIR gets involved. My hunch is that this will be resolved prior to month end April 2010.

  • April 12, 2010 at 4:37 am
    Spongenotbob says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Because I wonder how in the world is running all the ponzi

  • April 12, 2010 at 5:05 am
    James Island man says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Cypress has consistently made good returns for many years and is selective in where it writes. They seem very strong…..

  • April 12, 2010 at 6:39 am
    T UW says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    The MGA agreement was approved at 22-plus, funneling money away from the risk bearing entity… I’m sure the retail agent is between 13-17.

  • April 13, 2010 at 9:07 am
    Mr. Solvent says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    T UW is either in another state or WAY up north in Florida. I won’t disclose what any company pays, but 13 – 17% is unheard of in property insurance. Agent is much closer for most folks.

  • April 13, 2010 at 9:29 am
    Bubba says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    James Island — Cypress makes good returns for whom??? This is a 12 year old company that has only bolstered surplus in the last two years. Where did all those returns go for the past 10 years? Maybe the MGA and its’ owners?

  • April 13, 2010 at 9:29 am
    Bubba says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    James Island — Cypress makes good returns for whom??? This is a 12 year old company that has only bolstered surplus in the last two years. Where did all those returns go for the past 10 years? Maybe the MGA and its’ owners?

  • April 13, 2010 at 9:29 am
    Bubba says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    James Island — Cypress makes good returns for whom??? This is a 12 year old company that has only bolstered surplus in the last two years. Where did all those returns go for the past 10 years? Maybe the MGA and its’ owners?



Add a Comment

Your email address will not be published. Required fields are marked *

*