Four years after the great insurance reform legislation of 2006, Floridians are now approaching 2010’s hurricane season with much concern about the financial strength of the carriers whom have made the promise to be there when the wind starts to blow. The headlines are disturbing, several smaller companies such as Magnolia and Northern Capital have either gone under or are on the brink of doing so, while larger carriers continue to abstain from growth; some have even left the state altogether because they see writing in Florida as a losing proposition. So why are we in this predicament? And how can it really get fixed?
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Insurance Agent Articles
March 08 at 02:49PM
The Coastal Strategy Flaws of Property Insurance Carriers
As a native Floridian and insurance agent I have experienced several hurricanes over the past 25 years of being in the business. As a prior underwriter, sales manager and insurance agency principal, I have had the opportunity to gain insight from each of these perspectives in regard to coastal property strategies. If given a chance, history does indeed show us the flaws in most carriers approach in managing their PML (probable maximum loss) exposure to catastrophic storms.
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Insurance Agent Articles
