LMA NEWSLETTER November 19, 2018

Fireside Chat

During his term, President Franklin Roosevelt would regularly speak to America from the White House and Americans huddled around their fireplaces and their radios to listen.  Last week I presented an hour-long “fireside chat” with agents and adjusters that are members of the Central Florida Independent Insurance Agents and CPCU Society chapters.

Many of the …

Rebuilding Begins as Hurricane Michael Claims Grow

Shortages of building materials and skilled workers reported

The latest claims numbers from Hurricane Michael will be released here later today by the Florida Office of Insurance Regulation (OIR) as the counting also continues to find the exact number of destroyed buildings in Bay County, ground zero for the storm’s 155 mph winds.  Even measurements …

Flood Risk Underestimated in Florida’s Panhandle

Few had federal flood insurance

The expression “Good data begets good policy” not only applies to public policy, but also to an insurance policy – especially a flood insurance policy.  A new analysis reveals the peril we create when we use old data to rely on providing proper and sufficient insurance coverage.  Two hundred Mexico …

Sea Level Rise & Development Contribute to Storm Surge

43% more homes affected by Irma storm surge than might otherwise

This current period of sea level rise we’re experiencing on Florida’s coasts is affecting the number of homes impacted by storm surge.  A new report by the First Street Foundation in collaboration with Columbia University, shows the 7 inches of sea level rise here …

National Flood Insurance Program Faces Expiration (Again)

Private market & NFIP progress being made while Congress idle

So, what are we to do about the National Flood Insurance Program (NFIP), which still provides about 95% of the flood policies in the U.S.?  The federal program is coming up for expiration November 30 from another temporary four-month extension granted this past summer.  Predictions …

South Florida Healthcare Scam Shuttered

Opioid treatment, workers’ comp among other frauds of note

The Federal Trade Commission has shut-down a South Florida-based operation that it says was marketing discount health programs disguised as Affordable Care Act-qualified health insurance plans. Also in South Florida, the owner of an opioid treatment center is under arrest for insurance fraud, plus the crackdown …

Thanksgiving of Ideas

To wrap up this edition is to love this edition!  I am particularly proud of our regular contributors who give us ideas for articles and motivate us to think through some tremendous topics that we know will give you ideas and strategies to keep you at the top of your game.  As we ready for …