FIS

Chubb Makes Forbes’ List of “America’s 100 Most Trustworthy Companies”

Allyson Olver — Wed, 14 Apr 2010 20:21:00 +0000

We are pleased to share the exciting news about Chubb being named one of “100 Most Trustworthy Companies” in Forbes magazine’s list of “American businesses that have the most transparent and conservative accounting practices and most prudent management” in 2009.

Click on the following link to see the list.
http://www.forbes.com/2010/04/05/most-trustworthy-companies-leadership-governance-100_2.html

WEEKLY KNOCKOUTS: They took the CHALLENGE and SAVED big!

Allyson Olver — Fri, 19 Mar 2010 17:59:49 +0000

John saved $1,700 on his homeowners insurance by switching from State Farm.

Tim saved $1,400 on his auto insurance by switching from Liberty Mutual .

Visit www.ChallengeMyRate.com to find out how much you can save!

FREE $20 Gift Card – Take the Challenge Today!

Allyson Olver — Tue, 01 Dec 2009 20:55:16 +0000

Allow us the opportunity to step into your corner of the ring. Now it’s time to knock-out our competition! AS an Independent Insurance Agency, we are able to compare multiple carriers to provide you with the right coverage for the best price. we are confident that we will win this challenge! However, if we are unable to beat our competitors, with a better rate for comparable coverage, Florida Insurance Specialists, LLC will provide you with a $20 gift card.

Visit www. ChallengeMyRate.com

** Please see website for rules and restrictions.**

Fan Contest – Your Slogan Could Be Our Next Marketing Campaign!

Allyson Olver — Fri, 02 Oct 2009 14:24:30 +0000

FIS is searching for a new marketing slogan. We’ve had great success with www.DroppedByTheFarm.com and would now like to reach out to all homeowners that are in need of relief from climbing insurance rates. We have over 50 companies to choose from! Email your suggestions to contest@thefis.com . If we choose your slogan you will receive a $150 Gift Card.

FIS Offers a $20 Gas Card Just to Quote Your Auto Insurance!

Allyson Olver — Tue, 01 Sep 2009 19:00:24 +0000

Florida Insurance Specialists has decided to extend their Refer and Refill program to all of your Friends & Family. With Refer and Refill, you have the opportunity to save while earning free gas at the same time! FIS represents many highly rated auto and home insurance carriers and is often able to save clients up to 40% on insurance costs. If you are looking for a great way to save on gas cost, Refer and Refill is the solution for you.

To qualify for the gas card all you have to do is send a copy of your current auto declarations page and answer a few simple questions. Click here to get started!

*This offer is for leads only and does not constitute a sale or rebate in any form. The gift card is offered for the legitimate name and number only and is not dependent on the sale of a policy. Cards are available for a limited time and this offer may be discontinued at any time.

To learn more about Florida Insurance Specialists please visit our website at www.TheFIS.com .

State Farm Florida’s President Sends Open Letter to its Insureds

admin — Mon, 10 Aug 2009 18:48:20 +0000

Jim Thompson, the President of State Farm Florida, recently posted a message to their customers on its website, www.statefarm.com. Recently, State Farm Florida submitted a request to remove or change certain discounts or credits. This will result in an average premium increase of 28% applying to policies renewing on or after December 1, 2009. This change in rates has not affected State Farm’s plan to withdraw from the property insurance market in Florida. A copy of this letter follows:

A Message to Our Customers from State Farm Florida’s President

State Farm Florida recently submitted a filing to the Florida Office of Insurance Regulation (OIR) to adjust or eliminate some policy discounts.

On Aug. 6, 2009, the OIR approved this filing in part. This will affect several of our homeowners, renters, and condominium unit-owners discounts, including the Claim Record Rating, Utilities Rating, Building Code Effectiveness Grading System, Home Alert and Home/Auto discounts.

The resulting premium change will vary from customer to customer, but it will equate to an anticipated average statewide premium increase of 28 percent. This will apply to policies renewed on or after December 1, 2009, and policies issued on or after November 1, 2009.

The OIR’s approval of this filing does not change State Farm Florida’s plan to withdraw from the Florida property insurance market – regrettably, we must proceed with that plan.

We are making these adjustments to our discounts so that State Farm Florida may gain much needed revenue to help slow its financial deterioration and better ensure it can fulfill its obligations to its customers as it proceeds toward withdrawal. State Farm Florida’s net worth has fallen over $300 million since year end 2007.

As we move toward withdrawal, I want to reiterate that State Farm Florida customers do not need to take any action at this time. The Company’s withdrawal plan is still subject to approval by the OIR. Even after approval, our residential property policyholders will receive at least six months notice before their policy is affected.

State Farm will also continue to market other insurance products in Florida, such as auto and life insurance, as well as financial services products.

As always, customers who have questions or need assistance may contact their State Farm agent.

Jim Thompson
President
State Farm Florida

Click here to view the message via State Farm’s Website.

Florida Office of Insurance Regulation Posts Helpful Info for State Farm Policyholders

Joseph Busby — Thu, 26 Mar 2009 19:57:52 +0000

In an advisory released today by the Florida Office of Insurance Regulation, the OIR outlines some important information for current State Farm Florida policyholders.

A few of the more important points outlined are:

State Farm’s non-renewal process will begin in November 2009
State Farm will provide 6 months prior notice
State Farm customers can talk to their State Farm agent or to an independent agent for help in choosing another company that will best suit their individual needs and cirumstances.

You can view a full copy of this advisory by clicking here

Florida Insurance Specialists, LLC is prepared to help State Farm Florida customers and has over 30 carriers to choose from in order to suit individual needs and price points.

Office of Insurance Regulation Signs Consent Order with People’s Trust Insurance Co.

Joseph Busby — Wed, 18 Mar 2009 18:45:00 +0000

The Florida Office of Insurance Regulation has made available a Consent Order agreed to by People’s Trust Insurance Company. The OIR conducted a market conduct examination of People’s Trust in the month of February and found that People’s Trust violated several provisions of the Florida Insurance Code and the Florida Administrative code…

Among the violations listed are:

Failure to obtain a signed application
Failure to confirm Replacement Cost Values
Failure to inspect property
Failure to obtain evidence of prior insurance
Failure to obtain proof of protective devices
Failure to obtain proof of Wind Mitigating Features
Application of BCEG credits where ineligible
Failure to acknowledge submission of claim in timely manner

View the order: OIR – People’s Trust Consent Order – March 18, 2009

View the Press Release: Press Release from the OIR

Credit Scoring by Insurance Carriers Being Reviewed by Lawmakers

Joseph Busby — Tue, 17 Mar 2009 14:11:56 +0000

Insurers have long claimed that Credit Scoring is an accurate indicator of future claims and incidents that may occur. Actuaries and underwriters routinely examine multiple factors when determining insurance rates and Credit Scoring has recently become more controversial because of the nation’s economic crisis. Many people that previously had a higher credit rating are seeing their credit ratings slip due to unemployment, foreclosure and other circumstances. Several insurers are looking at ways to better calculate this risk during the economic crisis.

The National Association of Insurance Commissioners will be reviewing credit scoring practices and will be conducting a public hearing to take testimony on the industry use of credit scores.

“In this challenging economy, it is essential that insurance regulators have the necessary tools to prevent collapsing credit markets from unfairly impacting consumers.” – Morris J. Chazez , New Mexico Insurance Superintendent

See the below article from Insurance Journal for further information.

Insurers Use of Credit Scores Faces Renewed Scrutiny by Regulators.

Florida CFO Sink: 4 Steps to Reduce States Hurricane Exposure

Joseph Busby — Fri, 13 Mar 2009 14:38:28 +0000

Florida’s Chief Financial Officer, Alex Sink, has suggested solutions and guidelines to the State in order to reduce the State’s hurricane risk. Sink seeks to protect homeowners that cannot bear large, one-time shocks to their homeowners insurance rates.

“There are responsible, gradual changes the Legislature can make that will begin reducing our hurricane risk exposure and will better protect Florida’s homeowners,” said the CFO. “It’s time to start making smart decisions and enacting solutions, so that Florida will be less financially exposed when a major storm hits.” – Alex Sink

To read the full article, click below.

Florida CFO Sink: 4 Steps to Reduce States Hurricane Exposure.