tag:blogger.com,1999:blog-90689916209618415072011-10-06T16:54:09.806-04:00Specializing in residential property in both Insurance and Real Estate in SW FL. Offering you current information and the latest topics for consideration both areas.Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.comBlogger371100tag:blogger.com,1999:blog-9068991620961841507.post-22577745342222913252010-11-12T14:11:00.000-05:002010-11-12T14:11:12.453-05:00

This is going to be a mixture of thoughts so hang on....... Wow, the snowbirds are back!  I mean, aunt Mert from MA is on the road and in the way!  Already! Weather has become that perfect 80's hi and 60 low with no humidity. The SW FL media extols the virtues of foreclosure reductions due to the recent lender moratorium.  All that does is set up a glut in Dec. and Jan.  What I have also seen is

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-41656678476696587982010-10-28T04:55:00.001-04:002010-10-28T04:58:33.268-04:00

There has actually been a really good article published about the state of the FL property insurance market as related to reinsurance. Now, reinsurance is actually what makes everything “go”. And, the author has taken great pain to obtain as much accurate information as possible. If you would like to read the article, click here. What is sadly interesting is the info. obtained is presented to be 

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-13421468725905103892010-10-22T12:39:00.000-04:002010-10-22T12:39:25.077-04:00

Will Floridians, who already provide monetary support to a state-backed property insurer, and a catastrophe fund, (both in the form of assessments) support another public insurance entity for sinkhole coverage? We are developing a very real problem with “sinkhole” claims in this state. And, it will likely jeopardize the property insurance market much more than the hurricane risk! The sinkhole

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-64027490705354164422010-10-22T12:07:00.000-04:002010-10-22T12:07:14.855-04:00

Citizens Property Insurance Corp., has changed from insurer of last resort following its creation in 2002 to the primary competitor for property insurance in FL. A positive step to improving the overall FL market would be to have Citizens' role revert back to what it was intended to be. Beginning in 2007, insurance rates became a political football. The legislature and the governor worked

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-81575366020887974942010-08-29T23:19:00.000-04:002010-08-29T23:19:53.801-04:00

This is #2 in a series about property insurance markets and problems. Hopefully, you have read the 1st in this series of some of this won’t make a lot of sense. I believe most, if not all, the gulf states have very similar problems to the ones in Florida. Obviously, due to my location, I will deal with the topics in Florida. This state has so many problems, they can’t all be dealt with in a

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-88093794807836291312010-08-29T23:15:00.000-04:002010-08-29T23:15:26.405-04:00

This is the 1st in a series of thoughts about property insurance and catastrophe insurance. Some basic information needs to be simply accepted: 1) The Florida property insurance market is a complete mess. 2) Most of the gulf states are very vulnerable to a catastrophic event 3) Florida’s state run company (Citizen’s) is a disaster looking for a place to happen. 4) Probably at least half the

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-80566643208477062922010-08-29T12:54:00.000-04:002010-08-29T12:54:48.531-04:00

A national review of the National Flood Insurance Program (NFIP) revealed it repeatedly pays claims on the same properties, sometimes exceeding the value of the property more than 10 times over. In Lee county, FL., 659 properties were repetitive loss properties, a Federal Emergency Management Agency (FEMA) term for properties with two or more claims of $1,000 in any 10-year span. The repetitive

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-57715845065789841282010-08-14T17:37:00.000-04:002010-08-14T17:37:46.600-04:00

As an agency owner and a person that has been involved in the insurance industry for over 30 years, I am astonished at the number of approved rate increases as well as the percentage of state approved increase. Since January, the state’s Office of Insurance Regulation has approved 140 rate increases for homeowners insurance! This set of rate increases create an average rate increase of 29

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-21581892309632898612010-07-12T20:20:00.000-04:002010-07-12T20:20:33.723-04:00

WSJ: Florida's homeowners-insurance market could face big test jacksonville.com

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-29132790446809426822010-07-11T09:06:00.000-04:002010-07-11T09:06:12.491-04:00

The following are just some of the things that need clarified for FL residents with regard to the constant misinformation and misunderstandings of the property markets in this state. This is primarily written in response to an article published in the news-press at this link.... Blogs should be short so I am going to try my best. Brevity will leave out many details. If you wish more details,

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-72130852224463770872010-06-29T19:22:00.001-04:002010-06-29T19:24:08.035-04:00

Lee Co. Commissioners are seriously considering increasing property tax rates to keep from slashing their budget! This would be another negative effect on an already collapsed real estate market in SW FL and another unfair stress on all property owners in Lee County by increasing their property tax cost. You can read a synopsis of this online at: click here These “elected officials” need to know

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-20753986168603404002010-06-16T20:56:00.004-04:002010-06-30T07:10:16.580-04:00

Who and What is FL Citizen’s Insurance Corp.? Why is Citizen’s the largest insurer of property in the state of FL?  Why do news reports say Citizen's has $2T in liability exposure? I thought Citizen’s was only for property that was not eligible for insurance coverage with any other insurer? Is Citizen’s financially sound? Do they have enough money to support their risk?  If not, where would that

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-77316438661095761862010-06-16T20:54:00.002-04:002010-06-16T21:14:46.741-04:00

Fraud claims are dominating the insurance markets in years with no major storms. For example, current law allows an insured to report a claims up to 5 years after a major storm, If payment for a claim is made (the homeowner is not required to complete the repairs prior to payment being made). In an economy that is desperate, by any measure, this practice creates a situation where home owners

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-30030045308987818712010-06-16T20:52:00.001-04:002010-06-16T20:59:42.999-04:00

With Gov. Charlie Crist’s June 1 veto of another widely supported property insurance reform bill, Florida property insurers face some very difficult times as we enter storm season. What will this mean? Even fewer private insurers to choose from and more policies falling into state-run Citizens Property Insurance Corporation. This is at a time when Citizen’s is supposedly reducing their policy

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-66024864829893384362010-03-27T16:02:00.000-04:002010-03-27T16:02:59.343-04:00

Property insurers in FL have all received rate increase approvals in the past 6 mos. Our client renewals are all increased dramatically. We are “shopping the markets” for all our policy renewals. If you are reading this and not a client of ours, contact us to discuss this.      The FL legislature is about to pass a bill that would allow insurance companies to increase rates by 30% over 3 years.

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-35004771305529853232010-03-26T21:17:00.000-04:002010-03-26T21:17:18.002-04:00

In their infinite wisdom, Congress has failed to sign continuing funding of the national Flood Insurance program. As it stands right now, the funding expires 3/28. What does that mean? It means until Congress provides funding appropriation, no new flood insurance policies can be processed or issued. That means home purchase transactions will be stalled and any new flood insurance applications

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-60247976333324574512010-03-20T14:43:00.001-04:002010-03-20T14:45:15.467-04:00

As I ponder the issue of Obama care…. I wonder about the core of the reason. Even an idealog does not actually believe this is right or best or going to cost anyone less. I do believe this is only the tip of the iceberg. In just over one year he has taken over industry (auto industry) and now he is orchestrating the dismantling of Toyota to help his Government owned company and his UAW pals.

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-83980776431854717942010-03-09T16:37:00.000-05:002010-03-09T16:37:15.947-05:00

The legislature - today - passed a change in the way homeowners can obtain credits or discounts for the improved "hurricane hardness" of their home. The rule approved by the Florida Cabinet today amends a form from               A two-page version to four pages. Now required are signatures and property address on each page along with photos to prove the construction elements that make homes

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-58329437774710824272010-02-22T20:42:00.000-05:002010-02-22T20:42:59.805-05:00

What is the difference between the U.S. Govt. and the Mafia? One is a loyal, organized, close knit group of criminals.  The other is the Govt.

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-57987580496821865542010-02-22T10:54:00.000-05:002010-02-22T10:54:32.515-05:00

How does this economy impact insurance results? Over half the companies insuring property in the state of FL have reported operating losses for ’09. Yes, in a year without major storms (see below). Along with the St. Farm settlement by the OIR, almost all companies insuring property in FL have received rate increases of 15%-30% within the past 6 months. The auto companies are reporting losses

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-41924968552504744162010-01-31T10:12:00.001-05:002010-01-31T10:13:23.660-05:00

The first wave of State Farm - FL home insurance policy cancellations go out this week. This is part of the settlement agreement made w/ the St. of FL - allowing St. Farm to cancel 125,000 policies over the next 18 mos. http://www.miamiherald.com/news/breaking-news/story/1450941.html

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-65058728141501162642010-01-19T06:44:00.000-05:002010-01-19T06:44:30.625-05:00

"Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide." John Adams I am of the opinion that we have been on suicide watch for a while. What is your opinion?

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-40697083704268418532009-12-29T22:13:00.002-05:002009-12-30T07:32:40.892-05:00

I will apologize to you in advance, this rambling has nothing to do with insurance or real estate as the blog title promises. Here is another perspective for you. Do you remember the day when the national news carried a film piece on some idiot hiding in a cave somewhere in Afghanistan that had officially declared war against the U.S.? I do. I laughed and wished him luck while he sat in his

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-45338830633553659522009-12-16T22:53:00.000-05:002009-12-16T22:53:52.464-05:00

State Farm won't pull out of Florida after all. But homeowners shouldn't rejoice. The insurance giant will raise residential property premiums by a statewide average of 15 percent. This new rate increase is on top of the average of 28% increase already approved by the state that allowed them to end rate discounts previously allowed by policyholders use of the standard FL Wind Loss Mitigation

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-42792544179270667982009-12-05T09:45:00.001-05:002009-12-05T09:46:14.077-05:00

A Washington job “summit”. What a typically arrogant Washington move. A bunch of this administrations sympathizers were invited to figure out how the Fed. can spend taxpayer dollars and proclaim they are creating jobs. That’s not exactly new! Name the participants that represented enterprise and small business. That can’t be done because there weren’t any. I think the constitution said it

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-8216310430968191672009-11-21T21:17:00.004-05:002009-11-22T07:36:56.810-05:00

When it was written in his book it said he was mentored as a youth by Frank, (Frank Marshall Davis) an avowed Communist…… it didn’t matter. When it was discovered that his grandparents, were strong socialists, his own mother was sent to a socialist school, introduced him as a young man to Frank Marshall Davis,……it didn't matter. When people found out that he was enrolled as a Muslim child in

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-46330865327444577112009-11-17T07:21:00.002-05:002009-11-17T08:37:33.718-05:00

Is anyone looking? Why is a Govt. task force – all of a sudden – deciding that women should not have exams for breast cancer? Is it just the beginning of our new Govt. non- Oba-Mao healthcare? Their report report says women should not have any at all until after age 50. Here is what I want to know…… how will Mrs. Oba Mao be treated? Will she never have an exam until past age 50? Will the

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-76050067858695079512009-10-01T21:44:00.004-04:002009-10-01T21:51:06.650-04:00

Even though we are about to complete the 3rd year in a row with no hurricane activity, expect property insurance rates to rise in FL. Why? http://www.sun-sentinel.com/business/sfl-insure-rate-hike-100109,0,3973673.story This link is a good example of what is going on with rates. 1) Citizens takes a 10% increase starting Jan. 1, 2010 2) Universal P & C has requested an avg. 10% rate increase.

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-91073929533009471592009-09-29T20:46:00.000-04:002009-09-29T20:47:47.669-04:00

I think we are remiss by not talking more often and more seriously to people about flood insurance. If the GA situation doesn’t wake us up, I don’t know what will. The estimates of damage in the GA flooding are now at $500M. This is an astounding fact in two ways; 1) N. GA. does not flood and 2) 2) Since #1 is presumed to be true, no property owners in the area have flood insurance

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-18167503535239535882009-08-06T20:56:00.002-04:002009-08-16T06:45:46.146-04:00

Floodsmart.gov: Defining Flood RisksThe following information is reprinted by permission from the above linked web site.Contact our office today – we are in the heart of potential flooding season. We can provide you a no-obligation completed – accurate quote in 30 minutes.Understanding Flood AreasFlooding can happen anywhere, but certain areas are especially prone to serious flooding (Like SW

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-36670614017504603632009-08-06T20:52:00.002-04:002009-08-16T06:47:14.208-04:00

As homeowners can’t sell their home, more and more are becoming landlords. A growing number of homeowners need to relocate for a multitude of reasons are renting out their homes instead of selling them. At the same time, investors are taking advantage of low prices to buy rental properties. When you become a landlord, your property goes from a residence to a place of business. The landlord

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-36424952463251212052009-06-20T21:24:00.004-04:002009-06-20T21:32:23.565-04:00

You will think this isn’t really related to insurance or real estate but it is actuall related to both. So here we go…. The U.S. President and his famed speech in Egypt – the Ba Rack star press corp. didn’t make an issue of it but the one country he criticized was the only non Muslim nation in the entire Middle East. So, in essence, he gave fuel to the fire of Iran and the Palestinians instead of

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-1262770797075873072009-06-07T11:44:00.003-04:002009-06-07T11:45:53.441-04:00

This is actually a well written newsletter by the insurance consumer advocate of the State of FL - CFO's office. Hey, credit where credit is due, right....... Check it out....http://www.myfloridacfo.com/ICA/Newsletter/#HO%20Basic%20Steps

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-18545358728174636962009-06-06T12:31:00.005-04:002009-06-06T12:41:45.687-04:00

One doesn't need to dig too deep to find out people are basically afraid. Because people don't know what or who to trust. That’s where we come in. The economic crisis we've faced over the past year or so has changed attitudes on a broad scale. Huge institutions have crumbled (except for the one’s propped up by nationalization, with your money). Industry and finance giants are downsizing and

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-49707950834603554642009-06-04T23:18:00.003-04:002009-06-04T23:25:16.710-04:00

First, if you have only one policy for your home, condominium or apartment, it is a homeowner policy to cover you against perils other than flood. For those of you who don’t have flood insurance, you should realize that everyone in SW FL lives in a flood zone. Some areas are considered special or high risk flood hazard areas (as determined by FEMA maps). If you live in such an area and have a

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-71533965277045794272009-05-23T21:36:00.005-04:002009-05-23T21:52:24.739-04:00

Say that again..... Yes, Melissa Bean, D-Ill., and Ed Royce, R-Calif., have introduced H.R. 1880, the “National Insurance Consumer Protection Act.” The bill would create an optional federal charter for insurance companies in lieu of a home state certificate of authority to do business as an insurance company. That is what we need, another Federal takeover of an industry already regulated to death

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0tag:blogger.com,1999:blog-9068991620961841507.post-16487891130379739772009-04-17T22:31:00.003-04:002009-04-19T08:33:46.698-04:00

I know this is off the "beaten path" for my topics. But, I cannot resist: We have passed tax day… again. Here are some disturbing thoughts…. Questions We seem to have awakened the sleeping giant in this country… the “I am entitled” No, you are not entitled and you damn sure are not entitled to mine. How about these thoughts….. just the news headlines: In the last few weeks, our President has: 1

Thomas E Connellhttp://www.blogger.com/profile/17871594886448708647noreply@blogger.com0