COA Solutions of Florida

3 Carriers announce REDUCTION in insurance rates! Now before we all get our hopes up, please note that thus far, the carriers who are offering reductions in the article below is for residential policies, not commercial, but it is certainly a step in the right direction, and in case you have individual owners who are looking to reduce their HO6 or HO3 policy premiums, you may want to forward this to them. Read full article here - https://lnkd.in/emQ8v3FU I also want to remind everyone that we have now entered Q2 for 2024 and hurricane season begins (by insurers standards) as of June 1. For those with renewals upcoming in the next 90-120 days, the time is now to start the process. Please reach out to me if you or others you know would like me to do a Free, no obligation review of current coverages to ensure the lowest possible price for your policies. So far this year we have saved communities over $1,000,000 by proactively shopping for alternate coverages or correcting mistakes of other agents.

8 New Carriers Approved to enter the Florida insurance market - Will this equal lower premiums??? Florida’s Office of Insurance Regulation (OIR) has approved 8 new carriers to enter our market. My expectation on the commercial side is that they will behave much like we have already seen, taking capacity (existing policies) off from Citizen’s books, but only time will tell if they will be offering capacity to new applicants seeking alternate coverage. I will of course keep you posted as details unfold. For the full story please find the link here : https://lnkd.in/er7zYMpS

Citizens Insurance is becoming a national topic of discussion. https://lnkd.in/ephZnMx3

"Hi Daniel, I wanted to personally thank you for all your hard work to satisfy our biggest issue for our Condo. Hopefully the Jungle will be calm until they come up with something else to get crazy about!! We appreciate everything you’ve done for us, especially coming to our meeting. Regards & God Bless You. Nina T" Condo Board Member Hallandale Beach, FL

Looks like they are finally starting to get serious about policing bad actors in the Florida Condo world. https://lnkd.in/eiYxNaMF

Tallahassee is trying even if we don't see immediate benefits?-- My Safe Florida Condominium Pilot Program In case you had not heard, the Florida Legislature last week passed a series of bills aimed at saving homeowners’ money. The most interesting to me is the My Safe Florida Home program extension and Condo Pilot Program. In a nutshell, the program which was very successful in 2023 has been extended for 2024 and offers homeowners up to $10,000 for specific home hardening improvements. What is even more interesting is that this year there is a pilot program for condominiums that will provide a grant of up to $175,000 to help condominiums strengthen improvements against catastrophic weather events and hopefully in turn, help save condominiums money on property and windstorm insurance. If signed into law by Govn. DeSantis, the program would begin on July 1 2024. More details can be found here?- https://mysafeflhome.com/ More details on this and other bills can also be found in this article - https://lnkd.in/ekRW4JxX

3 Most Common Property Fraud Schemes in Florida I thought this might be a useful article to send out to your communities to proactively help protect them from possible fraud schemes that they might not be aware of.?What’s most interesting is it comes directly from a carrier. https://lnkd.in/eFawhdwJ.?

Hi Everyone, For those of you out there that might serve on a community board, or are in a property management role, I strongly recommend taking the time to watch this interview where the two Florida State Senators discuss Senate Bill 154 and what to expect of Condo Legislation in 2024. https://lnkd.in/gXpYd2Qj For those of you looking for my takeaways: - Not having Milestone (Recertification) Inspection and SIRS completed as required will create problems with obtaining Commercial Property Insurance in 2025 and beyond. - 17:32 – New Board Education requirements coming - 21:48 – No state financial bailout coming for those without money - 38:27 – Greater transparency requirement in contract awards - 49:07 – Milestone (Recertification) and SIRS requirements are stricter in Broward & Miami-Dade - 59:25 – Recap of important dates - 1:03:40 – Possible Condo Insurance relief including the possibility of binding ACV on roofs. Please always feel free to reach out to me with any questions. Even if I am not currently your community’s insurance agent, I am always available to answer questions or point you to those with the answers. For those with renewals upcoming in the next 90-120 days, the time is now to start the process. So far this year we have saved communities over $500,000 by proactively shopping for alternate coverages.