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Posts Tagged ‘Kevin McCarty’

It’s a Healthy Market

In Florida, homeowner's insurance on August 25, 2014 at 1:32

 

Homeowners

There’s good news for Florida homeowners insurance – the market is the strongest it has been in 10 years. The bad news is that the general news focuses on the bad news!

The Ocala Star Banner took the time to report and clarify news about insurance failures. “These failures do not happen as frequently as claimed,” said Kevin McCarty, Florida’s insurance commissioner. He quotes the number of demises – far smaller than one would think – and provides insight into why some went under.

In a field of nearly 120 companies, 12 couldn’t sustain themselves. It doesn’t take a math genius to see that 90 percent of companies are doing well. 

Newspapers do their best to report facts and figures, but they often require more in-depth discussions. It’s not that you can’t believe everything you read, but you need to look further.

To read more about this click on the link:

 http://www.ocala.com/article/20140810/OPINION/140809696?p=1&tc=pg

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Reinsurance Rates are Down – Why Not Premiums

In Florida, Hurricanes, Insurance on January 24, 2014 at 1:32

Florida Insurance Commissioner Kevin McCarty is completing a study to determine why property insurance premiums have not lowered along with reinsurance. The study is expected to be completed by January 15, 2014.  Jack Nicholson, the executive director of the Florida Hurricane Catastrophe Fund – said that the fund that has been created to provide insurance for insurance companies is nearly $10 .  So why all the rate hikes?

The fact is that reinsurance costs have dropped noticeably – from 15 to 20% on average.  McCarty did say that some insurer have suggested a reduced rate is coming, and noted some of the differences in the rate structure.

We look forward to the results of the study.