Florida Insurance companies pretty much formed a queue in Tallahassee this year, rate requests in hand.

And, according to Newton's Third Law of Rate Increases, certain neighborhoods in South Florida often had to swallow triple or quadruple what other areas did.

Take State Farm Florida Insurance Co.: average statewide increase of 8.6 percent; parts of Palm Beach and Broward counties, up to 40 percent.

The insurance company of last resort, Citizens Property Insurance Corp., delivered some grim tidings in time for the holidays.

Hurt by the storms of 2005, Citizens wants to raise wind-only premiums as much as 67 percent in Broward.

At this pace, it seems that the building material of the year for 2008 will be reinforced concrete.

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Online Insurance Company Provides New Service for Business Owners / Agents

FRANKLIN, TN. – Online insurance quotes provider HometownQuotes.Com has added another new line of insurance for its customers and agents. Effective December 14, 2005, the quotes provider began offering Group Health Insurance quotes to business owners nationwide, allowing them to find local agents who are experts in group health insurance.

The typical customer for Group Health Insurance will be small businesses with 4-10 employees, but occasionally larger firms will utilize the internet to shop for the best policies and the best rates.

“Businesses of all size can benefit from the ease of online shopping,” said Matt McWilliams, Chief Operations Officer of HometownQuotes.Com. “Small business owners are typically more price conscious than larger businesses, but regardless of the size or wealth of a company, we can help businesses find the right agent for their needs.”

Included in the Group Health Insurance application process, customers can also inquire and receive quotes for dental coverage, group life insurance, vision coverage, business insurance, and an array of other products and services that can benefit a business owner.

“We encourage businesses to get quotes on all types of insurance while they are on our site. Combining services with the same agent is a great way for a business to save money and eliminate the difficulty of working with more than one agent.” McWilliams said.

HometownQuotes.Com now offers free quotes to consumers for homeowners insurance, auto insurance, renters insurance, life insurance, individual/family health insurance, group health insurance, and annuities. The company, which began as a regional company in the Southeast United States, has grown into a nationwide consumer site.

The 2005 hurricane season officially closes on November 1st, but according to Tom Gallagher, Florida's CFO, people will be dealing with the aftermath for many years to come.

Nationwide, this season was the busiest and worst on record so far, with 27 named storms and 11 federal disaster declarations. The four hurricanes that hit Florida: Dennis, Katrina, Rita and Wilma caused 63 deaths and about $10.5 billion in insured damage.

One month after Wilma, about 700 people remain in hurricane shelters, waiting for county or Federal housing assistance. FEMA said it has approved about 39,000 applications for temporary housing, at a cost of $76 million.

South Florida's nursery industry suffered losses of over $800 million. Damage to Florida's agricultural industry is estimated at more than $2.2 billion.

Evacuations and airport closures resulted in the loss of millions of dollars in the tourism business, Florida's largest industry with 76.8 million visitors last year. The Florida Keys had an estimated $40 million in lost business just from Wilma.

The first storm to hit Florida was Hurricane Dennis on July 10. The Category 3 storm struck between Pensacola Beach and Navarre Beach with wind speeds in excess of 110 mph. To the east of Dennis along the Gulf Coast, extensive damage was caused by storm surges of up to 12 feet. The storm caused 14 deaths and left about $1 billion in insured losses.

Hurricane Katrina made landfall on August 25 in South Florida between Hallandale Beach and North Miami Beach as a Category 1 packing winds of 80 mph. Another 14 people died in Florida and insured losses came to $468 million. She caused far more damage when she hit Louisiana and Mississippi as a Category 4, and became one of the most devastating storms in history, taking hundreds of lives along the Gulf Coast and forcing the largest relocation in American history.

Hurricanes Rita and Wilma followed, each about a month apart. Rita passed south of the Keys on September 20 as a Category 2 hurricane with a wind speed of 100 mph. No deaths were reported in Florida, but $23 million in insured losses were tallied. Wilma came in from the west coast and exited on the east coast on October 24, making landfall in Cape Romano. A wind speed of 125 mph cast her as a Category 3 storm. The estimated insured losses have reached $9 billion, and 35 deaths were blamed on this storm.

Each of the past two hurricane seasons has brought four major hurricanes each – eight storms in about 15 months.

Some 600,000 Floridians turned to the Department of Financial Services for help, and Gallagher hosted seven town hall meetings across the state, providing direct help to hundreds of Floridians. FLDFS consumer service specialists advocated on behalf of nearly 61,000 consumers struggling with their insurance companies, with 88 percent of complaints resolved in the consumers' favor.

The department also set up four mediation centers in hurricane-hit areas and has conducted more than 11,000 mediations to date, with a 92% settlement rate, and has funneled $43 million to hurricane victims burdened with multiple hurricane deductibles.

The State Fire Marshal's office provided more than 13,000 hours in search and rescue efforts.

Also, based on his experience in the aftermath of Hurricane Andrew in 1992, CFO Gallagher:

• Initiated a moratorium on insurance companies canceling or non-renewing homeowners' policies.

• Placed a 10-percent cap on the fees public adjusters can collect on a homeowner's insurance claim and prohibited them from charging fees up front.

• Required Florida's health insurance companies and HMOs to waive restrictions on prescription refills to enable citizens to fill prescriptions in advance.

• Set deadlines for insurers to respond to policyholders and process claims.

• Established mediation program to give storm victims a no-cost way to quickly resolve claim disputes with their insurance company.

• Pushed for and won approval for a simpler insurance policy form that is easier for consumers to read and understand.

This year, CFO Gallagher is urging immediate action to improve Florida's insurance market, including the creation of a national catastrophe fund, tax-free hurricane savings accounts for Florida homeowners, and strong statewide building codes.

While forecasters are predicting busy hurricane seasons for some time, it is important to reflect on what we have endured so we can carry the important lessons forward, that it pays to be prepared, and that Florida will survive.

Florida Homeowners Insurance

Almost half of U.S. business owners recently surveyed said they now have in place health plans like health savings accounts (HSAs) or would soon offer them.

Of the 316 employers polled, 43% said they currently offer their employees a so-called consumer-driven health plan (22%), or will be offering one in the next two years (21%), according to a survey released This week by the Deloitte Center for Health Solutions.

Another 51% of businesses said that they are reviewing consumer-driven health insurance plans and may offer one in the near future if the plans have employee appeal and appear to save money.

The survey also showed that, while the newer HSAs are catching on in the marketplace, health reimbursement accounts, which debuted about three years ago, remain the most popular among employers.

Sixty-three percent of respondents said they offer their staff an HRA, compared to 31% who offer HSAs.

"By offering consumer-driven health plans, businesses believe they will reduce spending by making employees smarter shoppers for health care," said Tommy G. Thompson, independent chairman of the Deloitte Center for Health Solutions. "These plans are increasingly attractive as health care costs continue to threaten companies' bottom lines."

The survey also found:

-- 77% said they expect consumer-driven plans to change employee purchasing patterns by making them aware of the true cost of healthcare, while 8% said they will not.

-- 56% said that consumer plans will result in immediate cost savings for employers, while 27% said they will not.

-- 43% said that consumer plans will reduce rising health care costs long-term, especially the cost of health insurance, while 24% disagreed.

-- 51% said that their employees are satisfied with the plans, while 15% said employees were dissatisfied, and 33% said they were neither.

-- 71% said senior management is satisfied with the plans, while 3 percent said senior management is dissatisfied, and 26% said they are neutral.

The survey's findings are no surprise, Mohit Ghose, spokesman for America's Health Insurance Plans, told United Press International. "They're a good sign that employers are looking at the entire choice of products health plans are putting out there," he said.

AHIP's own survey of the health plans' market penetration showed that, as of March, employer HSAs had enrolled more than 1 million beneficiaries. Specifically, 1,031,000 people were enrolled in HSAs/high-deductible health plans at that time, more than double the September 2004 coverage of 438,000.

Fitch Ratings today said Hurricane Wilma represents a major blow to an already weakened Florida property insurance market. If actual insurance losses come in at the high end of the estimated range ($4 billion to $10 billion), Wilma will represent the 3rd largest U.S. insurance hurricane loss behind Hurricane Katrina and 1992's Hurricane Andrew.

The financial strength of the Florida insurance market has weakened substantially in recent years due to the withdrawal of highly rated companies that have been replaced by state-sponsored entities and thinly-capitalized Florida insurance companies, Fitch said. The deterioration of the insurance market in Florida has occurred against a backdrop of rapidly appreciating property values, particularly along the desirable but higher-risk coastal areas, which increases the severity of losses when they occur, and increased frequency of losses from back-to-back seasons with multiple hurricanes.

Although much smaller than the losses from Katrina, Fitch noted that Hurricane Wilma is still a major insurance loss. Depending on the final tally, Wilma could be the fifth largest U.S. catastrophe loss behind Hurricane Katrina, the 9/11 terrorist attack, Hurricane Andrew, and the Northridge, California earthquake.

Becasue of the combined losses from Hurricanes Dennis, Katrina, Ophelia, Rita, and now, Wilma, Fitch expects 2005 to be the highest U.S. insured catastrophe loss year ever.

Fitch said the insurance industry has earned an adequate return on insurance capital invested in Florida since Hurricane Andrew in 1992, and pricing remains deficient, nor has it fully recovered from the 2004 hurricane season. As a result, there is little incentive for a well capitalized insurer to remain in the market or for a start-up insurer to capitalize well. All else equal, thinly-capitalized insurance companies will report greater profitability (if measured by return on equity) but will be less able to survive extreme events such as very large storms or multiple storm seasons. As a result, the risk of insolvency among the small Florida-only hurricane insurance companies is high.

Fitch said that there are disincentives for smaller insurance companies in Florida to grow due to the structure of the market that allows insurance companies of up to a certain size to qualify for limited apportionment status. Limited apportionment companies may obtain prompt cash recoverable payments from the Florida Hurricane Catastrophe Fund (FHCF; rated 'AA' by Fitch), the state-sponsored reinsurer, in the event sustained hurricane losses pierce the attachment point. In addition, these companies are also capped on potential assessments emanating from Citizens Property Insurance Company (Citizens; rated 'A-' by Fitch), the state-run insurer of last resort.

Additionally, regulatory risk to insurance companies in Florida is very high, Fitch noted. While it is expected that homeowners insurance rates in Florida will continue to rise as a result of recent losses, the level of price increases that would be needed to attract insurance capital back to the state is politically unappealing. Adding to a potential market capacity crisis will be the higher cost of reinsurance, as reinsurers are able to raise pricing at a faster pace and to a greater degree, than primary insurance companies that are subject to rate regulation in personal lines.

Fitch noted any significant amount of insured damage from Wilma is likely to result in Citizens making a second assessment to insurers, following a $515 million assessment earlier this year. These assessments are ultimately passed on to policyholders. Within Florida, there is increasing resentment towards the Citizens' assessment that many people (accurately) view as a transfer of losses from the higher-risk coastal areas to the lower-risk interior areas. Furthermore, if Wilma does result in the insolvency of any insurers, the remaining carriers would likely be expected to pay guarantee fund assessments to cover the insolvent insurer's claims.

Fitch recently downgraded the long-term rating of Citizens from 'A' to 'A-' with a Negative Outlook due to the significant losses suffered over the past two hurricane seasons and concerns about the ability of Citizens and the Florida primary insurance market to achieve price adequacy. There is also significant uncertainty as to the viability of Citizens in its current form, as the state government is actively considering a potential overall of Citizens. This action was brought on in response to the company's poor claims handling during the 2004 hurricane season that exposed operational risks and more recently from the resignation of several executives due to allegations of bribery and conflict of interest that have highlighted corporate governance issues. Any structural or operational changes to Citizens, as the second largest homeowners insurance company in the state, could have major implications to the Florida insurance market.

Wilma made landfall at 6:30 a.m. EST last Monday near Cape Romano, Florida as a strong Category 3 hurricane with sustained winds of 125 m.p.h. Wilma was the third hurricane, following Dennis and Katrina, to make a Florida landfall in 2005. Wilma moved quickly across Florida, which was a good thing because rainfall was lessened and buildings were exposed to the high winds for less time. Also, Florida has some of the highest building code standards in the country, which lessens the likelihood and severity of damage. Nonetheless, the storm crossed eastward through some of the most highly populated areas of Florida, exposing a greater number of properties to damage.

The various natural catastrophe modelers have begun to release preliminary loss estimates ranging from $6 billion to $10 billion.

Well, we finally have added life insurance quotes to our insurance quotes list!

Whether you are looking for term life insurance, permanent whole life insurance, permanent variable life insurance, or you not sure what type of life insurance coverage you need, we get get you the best advice and free quotes from life insurance agents in your area.

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Life Insurance Policies Explained

Do You REALLY Need Life Insurance?

Lots of folks aren't clear if they need life insurance or who actually needs it. Lately, many of us been compelled to think about life insurance because of the horrible hurricanes that hit Lousiiana, Texas, Mississippi, and Alabama. The loss of life has been tremendous. How many of those killed had life insurance, or of those who did if they had enough to take care of dependents spared by the storms.

Here are some real life examples of people who do and don't need life insurance:

These People Don't need

• A minor child: Life insurance is intended to care for dependents. Unless you are dependent on your offspring for income, you don't need a life insurance policy on a minor child (that includes a teenager or college student).

• Single adult, no children or other dependents: If the only person depending on income is you, then obviously you don't need life insurance.

• Married, child is an adult, nearing retirement: Once your child is out of college or living on his or her own, you should re-evaluate your insurance needs. If you've been saving and you have adequate retirement savings and investments, you don't need life insurance anymore.

These People DO Need Life Insurance

• Single-adult with dependent child: Unless your former spouse or baby's daddy (or mommy) is capable of carrying all the costs of raising your child, you need life insurance. Nearly 4 in 10 single parents have no life insurance coverage of any kind. Of those who have coverage, nearly two in three consider their coverage inadequate, according to LIFE. The typical single parent only has $60,000 in life insurance coverage.

• Married, no children: If you have a mortgage and other household expenses that your spouse can't handle on his or her own, get life insurance.

• Married with children: You're in the same position as a single parent with a dependent child.

• Stay at-home parent: Consider buying life insurance if your surviving spouse will have to pay for child care or other services formerly provided by the stay-at-home parent.

There are two important questions to ask when determining your life insurance needs, according to Woods:

• How much money will your dependents need to cover immediate costs, such as your funeral arrangements and current living expenses?

• How much money will they need for the long term, such as college expenses?

Don't assume you can't afford enough coverage. A 40-year-old male can purchase $500,000 of life insurance 20-year level premium term life insurance for $375 a year, or a little more than $1 a day, according to LIFE. A 40-year-old female can purchase $500,000 of 20-year level premium term life insurance for $320 a year.

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We have just written a new article about the factors that can influence you home insurance prices.

The article lists numerous factors such as smokers in the home, the coverage you want, and even your age and explains why they affect your home insurance prices.

To read the full article click here: Factors that Influence Home Insurance Prices

Life insurance and wills make many people think of death. Most folks will go out of their way to avoid the topics. But in reality, both documents are really for the living.

For Jen Lare, her life insurance policy was a gift that allowed her to die in peace, said her husband, Kent.

"At least she knew financially we were taken care of. My wife was extraordinary," Kent Lare said.

Early in their marriage, the Lares purchased a condominium. They also purchased life insurance. "It was second nature," Kent said.

Several years later, Jen was diagnosed with breast cancer. It spread to her bones. She died at the age of 37. By that time, the couple had an young son.

"If it wasn't for the life insurance, I can pretty much grant you we probably would have been filing for bankruptcy," Kent said.

'Love Letter From Beyond'

His experience is one that life insurance experts hope consumers will take to heart and learn from. September is Life Insurance Awareness Month.

"I call it a 'love letter from beyond,' " said Karin Klaassen, of the Society of Financial Services Professionals. "We don't call it 'death insurance' because it's for the living."

Anyone who has someone dependent upon him or her needs life insurance -- whether it's a spouse, a child, a family member or a friend.

Compared with other types of insurance, it's the least expensive. There are basically two types: term and cash value.

Term life insurance is what the name implies -- it's only for a certain period of time, and it doesn't build equity. If you're still alive when the policy expires, there's no payout.

Cash-value policies are more expensive because they build equity. They're considered permanent because they can remain in force for life. Within the cash-value category, there's a variety of products that offer flexible premium payments and even allow you to tie the value of the policy to the stock market.
Know What You Need

To figure out how much coverage you need and what kind of policy may be right for you, consider factors such as your mortgage, your children's college costs, emergency fund needs and debt. If your household depends on dual incomes, you may want to cover the cost of your salary over a certain period of time as well.

Klaassen estimates a $200,000 term life insurance policy for a 40-year-old male nonsmoker in reasonably good health costs $40 per month. A cash-value policy for the same consumer may cost $185 per month.

Before purchasing any insurance policy, check with the Florida Department of Financial Services to make sure the product is legitimate and the agent selling the product is licensed. Call 1-800-342-2762.

For Kent Lare, life insurance allowed him to focus on grieving and taking care of his son. "You don't buy life insurance for yourself. You buy it for people you care about," he said.

Study Shows That Some Clinics Are More Likely to Ask if you have Health Insurance in Scheduling Followups Sept. 13, 2005 - People covered by private health insurance may be more likely to receive follow-up care within a week for an urgent medical condition than those with Medicaid or without health insurance. A new study shows that callers claiming to have private health insurance were about twice as likely to get a follow-up appointment at an ambulatory clinic within a week after an emergency room visit than those without insurance or with Medicaid.

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The results suggest that callers' health insurance status may be more important to most people answering the phones and scheduling appointments at ambulatory care clinics than their health status.

Researchers say that while 98% of the clinics contacted screened callers for health insurance status, only 28% attempted to determine the severity of the callers' medical condition.

The results suggest that callers' health insurance status may be more important to most people answering the phones and scheduling appointments at ambulatory care clinics than their health status.

Researchers say that while 98% of the clinics contacted screened callers for health insurance status, only 28% attempted to determine the severity of the callers' medical condition.

Health Insurance Does Make a Difference

Researchers say Americans will make about 114 million visits to hospital emergency departments in 2005 and more than 80% will be treated and discharged with recommendations for follow-up care. But many uninsured people often experience problems making follow-up appointments within the recommended time frame.

In the study, published in The Journal of the American Medical Association, researchers looked at the role insurance status plays in securing a follow-up appointment for an urgent medical condition identified during an emergency room visit.

Research assistants made calls to nearly 500 ambulatory clinics in nine U.S. cities from May 2002 to February 2003 and identified themselves as new patients who had been treated in an emergency room and required an urgent follow-up appointment within a week. Callers read a script detailing one of three possible medical scenarios requiring follow-up, including pneumonia, high blood pressure, or a possible ectopic pregnancy (a potentially life-threatening, early pregnancy occurring outside the uterus, such as within the fallopian tube).

The same assistant called each clinic twice with the same medical scenario but with a different insurance status.

Insured vs. Noninsured: Getting an Appointment

Insured vs. Noninsured: Getting an Appointment

The results showed that the availability of follow-up appointments varied according to insurance status. For example:

• 64% of callers with private insurance were offered a follow-up appointment within a week vs. 47% of callers overall.


• Callers with private heath insurance were more likely to receive appointments than those claiming to have Medicaid coverage (64% vs. 34%)


• Callers with private health insurance also had higher appointment rates than those without insurance who offered to pay $20 and arrange for payment of the balance (65% vs. 25%)

But researchers found no difference in follow-up appointment rates between those with private insurance and uninsured people willing to pay cash for the entire visit fee (about $100 for a typical visit).

"These study findings suggest that reported insurance status influences access to follow-up appointments for patients with conditions requiring urgent ambulatory follow-up care," write researcher Bret Asplin, MD, MPH, of the department of emergency medicine at Regions Hospital and HealthPartners Research Foundation in St. Paul, Minn., and colleagues. "Although the ultimate consequences of these access barriers are not known, they may result in patients delaying needed follow-up care, risking adverse outcomes, or requiring additional emergency care or hospitalization."

The Lesson from all of this? You NEED health insurance! You already knew that. Let this be a reminder.

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