First, let me clarify what ISO stands for: The Insurance Services Office (ISO) is a leading source of information for risk management in the insurance industry. ISO provides information for …
After having $718 million approved in rate increases Florida insurers found an additional way to squeeze money from policyholders
The recent rate increases approved by the Florida Legislator is not enough for the ever-hungry insurance industry. The latest twist is a reevaluation of the hurricane risk zones in the …
My property loses value, but my insurance rates go up – WHY?
A common mistake among real estate owners is mistaking market value for insurable value. The following definitions should help to clarify the difference between these two values: Market Value: To …
Construction seaward of the Coastal Construction Control Line (CCCL)
In an Insurance Appraisal it is important to find out, if the subject property is located seaward of the CCCL, because the reconstruction most likely will be burdened by the …
Appraising from Blueprints
Using the construction plans for an insurance appraisal is like a second leg to stand on instead of trying to balance on just one leg. If an appraiser inspects a …
Citizens sets Standards for Insurance Appraisals
Citizens sets Standards for Insurance Appraisals With its agent technical bulleting issued in July of 2010, Citizens raised the bar for the quality of insurance appraisals which every condo association …
Changes to Florida Statute 718.111 (11) and Addition of FL Statute 627.714
For the convenience of my clients the entire chapter of Florida Statute 718.111(11) is shown here, the most significant changes are in bold: (a) Adequate property insurance, regardless of any …
Who may prepare an Appraisal Report?
Usually the public does not know, who may and who may not prepare and sign an appraisal report. In Florida we have three different appraiser ranks, all regulated by the …
Insurance Appraisal Updates
Update or not Update – that is the question; and if an update how often should it be done and foremost important what should it look like? Many of my …
Good Insurance Reports make the Insurance Agents’s life easier
Florida law requires condominium associations to have an appraisal prepared every three years to establish the insurable value of the building and site improvements. Two professionals serve the association to …