Important Notice Regarding Florida’s Homeowners Insurance Crisis

For two years we have been warning about the oncoming Homeowners Insurance Crisis. Today the crisis is here and it is getting worse every week. Four Homeowners Insurance companies have failed in the past few months. Many more have restricted new business, cancelled existing policies, or announced plans to do so. Citizens, our state-run market of Learn More “Important Notice Regarding Florida’s Homeowners Insurance Crisis”

Managing the Risk of Self-Insurance

As insurance premiums skyrocket, many people think about self-insuring. Following are some thoughts that should be considered. Insurance was created and is best used to protect against significant financial risks that have low frequency of occurrence, but a severe potential impact. Natural disasters are a good example. Small risk exposures should be self-insured on a Learn More “Managing the Risk of Self-Insurance”

Flood Insurance Policy Changes

Since the 1970’s Flood insurance rates have been calculated based on criteria that do not accurately account for flood risk. Rates have previously been based on a Flood Insurance Rate Map (FIRM). These maps were developed in 1968 when the National Flood Insurance Program (NFIP) was enacted. Prior to the development of the NFIP, flood Learn More “Flood Insurance Policy Changes”