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The Florida Insurance Roundup from Lisa Miller & Associates

The Florida Insurance Roundup from Lisa Miller & A

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The Florida Insurance Roundup from Lisa Miller & Associates
The Florida Insurance Roundup from Lisa Miller & Associates

The Florida Insurance Roundup from Lisa Miller & Associates

The Florida Insurance Roundup from Lisa Miller & A

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About Us

"The Florida Insurance Roundup" from Lisa Miller & Associates, is your program on the people, issues, and regulations shaping Florida’s Insurance Market. Lisa, a former deputy insurance commissioner, brings you the latest developments in Property & Casualty, Healthcare, Workers' Compensation, and Surplus Lines insurance from around the Sunshine State. Based in the state capital of Tallahassee, Lisa Miller & Associates provides its clients with focused, intelligent, and cost conscious solutions to their business development, government consulting, and public relations needs. On the web at www.LisaMillerAssociates.com or call 850-222-1041 or email at info@LisaMillerAssociates.com. Your questions, comments, and suggestions are welcome!

Latest Episodes

Episode 16 - Flood Follies

2018 was a tough year for flooding in the United States, and nowhere worse than in the Carolinas, where Hurricane Florence dumped three feet of rain in spots. Damage is estimated at $13 billion but at least half of that is uninsured – as most residents had no flood insurance. While some didn’t know they needed it, others took a gamble by going without and lost. But the bigger folly some argue is federal flood insurance itself which encourages some homeowners to disregard risk, by providing subsidized premiums at a level far below what’s actuarially-required to cover the claims’ costs. The same program also pays homeowners to rebuild their flooded homes in the same low-lying spots, over and over again. How can we better protect our lives and property from flood waters? And what urgency will Florence bring to the debate on providing better flood insurance protection for coastal and inland residents alike? Host Lisa Miller sat down with a catastrophe risk modeler and a coastal floo...

21 MIN2018 DEC 17
Comments
Episode 16 - Flood Follies

Episode 15 - Active Shooter Insurance

The Thousand Oaks, California bar shooting. The Pittsburgh synagogue massacre. Just two of the recent mass shootings across the country involving what police term as an “active shooter.” The worst to date in Florida was the Valentine’s Day 2018 shooting at Marjory Stoneman Douglas High School in Broward County, in which 17 people were killed and 17 others injured. Beyond the tragic loss of human life are the lives of the survivors affected. How can they ever be made whole again? The insurance industry is responding to these attacks by offering “active shooter insurance” – designed to help organizations and businesses whose employees, property and reputation are impacted. Host Lisa Miller, a former deputy insurance commissioner, talks with an underwriter on this new line of insurance and its growing sophistication in coverage options for events that used to be unthinkable. Show Notes: Data from the FBI show the average number of active shooter events in the U.S. has doubled ove...

15 MIN2018 NOV 26
Comments
Episode 15 - Active Shooter Insurance

Episode 14 - Hurricane Michael's Construction Lessons

Hurricane Michael struck Florida’s panhandle in October 2018 as a strong Category 4 storm, with sustained winds of 155 miles per hour. At least 29 people in Florida died in the storm or its aftermath and another 10 people in Georgia, North Carolina, and Virginia, as of this recording. Beyond the cost in human lives, is the cost of rebuilding homes, businesses, and infrastructure. Estimates of insured losses alone are between $6 billion to $10 billion. Just how well did Florida's building codes, both old and new, hold up against the devastating winds - and what's needed in post-hurricane mitigation as Florida rebuilds? Host Lisa Miller, a former deputy insurance commissioner, talks with two catastrophe adjusters on the ground with Michael's damages and the head of a consumer insurance group that's fighting for stronger building codes in the Sunshine State. Show Notes: Although Florida is recognized as having the toughest building codes in the nation, a large share of homes and other...

24 MIN2018 OCT 30
Comments
Episode 14 - Hurricane Michael's Construction Lessons

Lisa Miller on Hurricane Michael Insurance Claims

Former Florida Deputy Insurance Commissioner Lisa Miller was interviewed by Tom Flanigan on WFSU-FM, National Public Radio for Florida, just hours before Hurricane Michael made landfall on the Florida panhandle. She shared with listeners the importance of staying safe prior to and during the storm, how to handle any damage and prepare an insurance claim, and the best methods for filing claims. This includes taking pictures and video of the damage and collecting crucial information to share with the insurance company to help speed up the claims process, utilizing “fast-track” phone apps and other expedient methods. For those policyholders needing assistance with claims, she shared the Florida Department of Financial Services Insurance Claims Assistance Hotline at 1-877-693-5236. Lisa also discussed the need for flood insurance and how most standard homeowners insurance policies do not cover flood damage. She pointed out that Florida has been a leader in the nation with model laws t...

6 MIN2018 OCT 11
Comments
Lisa Miller on Hurricane Michael Insurance Claims

Episode 13 - Insurance Nerds

It’s an insurance agent – it’s an adjuster – it’s an underwriter – no, it’s an Insurance Nerd! In an industry that sometimes screams boring and is full of complex, technical jargon, comes a refreshing team of veteran insurance professionals that are out to change that. Their goal: to engage younger people considering different career paths and show them that insurance can be fun and personally satisfying work. Along the way, they’re changing the stuffy corporate culture that is often a barrier to Millennials and Generation Z’ers joining the industry. Host Lisa Miller talks with Nick Lamparelli, a 20+ year industry professional who is Chief Evangelist for the Insurance Nerds. He talks about the talent gap that exists in the industry today, the surprising challenges he and his colleagues have encountered, and shares the answers they’ve uncovered to successful recruiting. Show Notes: Nick Lamparelli of New Hampshire has worn many hats in his insurance career. He started his c...

19 MIN2018 AUG 9
Comments
Episode 13 - Insurance Nerds

Episode 12 - The Prize in Real Estate

The real estate market and the insurance market are intertwined – in fact, “property” is literally the first word in property & casualty insurance. Both are highly value-based, as higher property values require higher insurance premiums to provide adequate coverage. But there’s a bigger picture: the connection between real estate and promoting investment and job creation, where property sales and insurance will then naturally follow. Host Lisa Miller talks with John Sebree, a Florida real estate leader who is now CEO of the Missouri Realtors®. While stressing that every state has or should have international business, Sebree shares how Florida’s natural connection to Latin American and Caribbean investors and increasingly the Europeans, are netting benefits for our real estate – and insurance markets. Show Notes: Real estate creation and increased sales create more property insurance sales and activity in related lines, such as automobile insurance. A recent study by the Nati...

17 MIN2018 JUN 7
Comments
Episode 12 - The Prize in Real Estate

Episode 11 - Driving Blockchain Home

The emerging distributed ledger software technology Blockchain, being developed for use in financial transactions, has applications in how we manage insurance information, too. It could one day be used to reduce Florida’s nearly 27% rate of uninsured drivers – the highest in the nation – while providing added convenience and money-saving efficiencies to both consumers and insurance companies. Blockchain technology is also touted as an answer to the current climate of data breaches and compromised personal information. Host Lisa Miller, a former deputy insurance commissioner, talks with the leader of the insurance consortium applying Blockchain and a Florida State Senator who calls it the next wave in the insurance space, especially when it comes to fighting growing insurance fraud. Guests on the podcast are Christopher McDaniel, Executive Director of the RiskBlock Alliance and Senator Jeff Brandes (R-Pinellas County) who discuss what exactly Blockchain is and isn’t, how it’s cu...

20 MIN2018 APR 18
Comments
Episode 11 - Driving Blockchain Home

Episode 10 - Modeling for School Shootings

The aftermath of the Parkland, Florida school shooting and other major casualty events can greatly impact the insurance companies that provide liability policies to schools, hotels, and other venues. While these policies traditionally cover a variety of more ordinary events, some policies never contemplated – and priced the risk for – the increasingly unusual catastrophic events seen over the last few years. Now there are new tools to help insurers and their reinsurers better calculate previously difficult and unmanageable risks, leading to better coverage for these venues and ultimately those they serve. Host Lisa Miller talks with Robin Wilkinson, Vice President and Managing Director of Casualty Analytics at AIR Worldwide, a Verisk company, about its new scenario-based Casualty Risk Modeling. Ms. Wilkinson explains how the modeling works with mass casualty events, how it’s helping insurers and reinsurers better rate the risk of both sudden and systemic events, and the types of ...

16 MIN2018 APR 3
Comments
Episode 10 - Modeling for School Shootings

Episode 9 - The AOB Trap

Fort Myers retiree Sandra Carlstrom suffered extensive water damage to her home when Hurricane Irma’s 115 mph winds and flying debris left holes in her roof and outside trim. But a second – and more threatening – round of damage would occur a week later, when she received a glossy flyer in her mailbox from a contractor offering to perform a free roof inspection and repair all the damage. Three months later, no repairs have been made and worse, she’s been threatened with a lawsuit and lien on her house by the contractor – all because of an Assignment of Benefits (AOB) contract she signed with him. Host Lisa Miller, a former Florida deputy insurance commissioner, talks with Sandra Carlstrom and her daughter Kirsten about how a loose temporary roof tarp unraveled a tale of deception and the utter panic they’ve been in since discovering the $191,000 bill sent to their insurance company for a roof replacement that should only cost $30,000. Despite a growing number of such AOB abuse...

16 MIN2018 JAN 2
Comments
Episode 9 - The AOB Trap

Episode 8 - National Flood Insurance Reform

Congress is pushing into 2018 a decision on how to reform the beleaguered National Flood Insurance Program (NFIP) that 1.8 million Floridians depend on for their property flood protection. Congress must reauthorize the program as well, because without it, federally-backed home mortgages which require flood coverage for high-risk zoned properties could come to a standstill. But the taxpayer-subsidized NFIP is $25 billion in debt and still using old flood data and maps, with rates that don’t match risk. Congress is considering reauthorization under a package of reform bills called the 21st Century Flood Reform Act. Host Lisa Miller, a former Florida deputy insurance commissioner, explores two of those key reforms on this program: what to do with grandfathered properties that are still enjoying 1960’s-era premiums and riddled with repetitive losses, and how best to encourage private flood insurance market alternatives. It’s estimated that 77% of Florida properties would see lower pr...

16 MIN2017 DEC 8
Comments
Episode 8 - National Flood Insurance Reform

Latest Episodes

Episode 16 - Flood Follies

2018 was a tough year for flooding in the United States, and nowhere worse than in the Carolinas, where Hurricane Florence dumped three feet of rain in spots. Damage is estimated at $13 billion but at least half of that is uninsured – as most residents had no flood insurance. While some didn’t know they needed it, others took a gamble by going without and lost. But the bigger folly some argue is federal flood insurance itself which encourages some homeowners to disregard risk, by providing subsidized premiums at a level far below what’s actuarially-required to cover the claims’ costs. The same program also pays homeowners to rebuild their flooded homes in the same low-lying spots, over and over again. How can we better protect our lives and property from flood waters? And what urgency will Florence bring to the debate on providing better flood insurance protection for coastal and inland residents alike? Host Lisa Miller sat down with a catastrophe risk modeler and a coastal floo...

21 MIN2018 DEC 17
Comments
Episode 16 - Flood Follies

Episode 15 - Active Shooter Insurance

The Thousand Oaks, California bar shooting. The Pittsburgh synagogue massacre. Just two of the recent mass shootings across the country involving what police term as an “active shooter.” The worst to date in Florida was the Valentine’s Day 2018 shooting at Marjory Stoneman Douglas High School in Broward County, in which 17 people were killed and 17 others injured. Beyond the tragic loss of human life are the lives of the survivors affected. How can they ever be made whole again? The insurance industry is responding to these attacks by offering “active shooter insurance” – designed to help organizations and businesses whose employees, property and reputation are impacted. Host Lisa Miller, a former deputy insurance commissioner, talks with an underwriter on this new line of insurance and its growing sophistication in coverage options for events that used to be unthinkable. Show Notes: Data from the FBI show the average number of active shooter events in the U.S. has doubled ove...

15 MIN2018 NOV 26
Comments
Episode 15 - Active Shooter Insurance

Episode 14 - Hurricane Michael's Construction Lessons

Hurricane Michael struck Florida’s panhandle in October 2018 as a strong Category 4 storm, with sustained winds of 155 miles per hour. At least 29 people in Florida died in the storm or its aftermath and another 10 people in Georgia, North Carolina, and Virginia, as of this recording. Beyond the cost in human lives, is the cost of rebuilding homes, businesses, and infrastructure. Estimates of insured losses alone are between $6 billion to $10 billion. Just how well did Florida's building codes, both old and new, hold up against the devastating winds - and what's needed in post-hurricane mitigation as Florida rebuilds? Host Lisa Miller, a former deputy insurance commissioner, talks with two catastrophe adjusters on the ground with Michael's damages and the head of a consumer insurance group that's fighting for stronger building codes in the Sunshine State. Show Notes: Although Florida is recognized as having the toughest building codes in the nation, a large share of homes and other...

24 MIN2018 OCT 30
Comments
Episode 14 - Hurricane Michael's Construction Lessons

Lisa Miller on Hurricane Michael Insurance Claims

Former Florida Deputy Insurance Commissioner Lisa Miller was interviewed by Tom Flanigan on WFSU-FM, National Public Radio for Florida, just hours before Hurricane Michael made landfall on the Florida panhandle. She shared with listeners the importance of staying safe prior to and during the storm, how to handle any damage and prepare an insurance claim, and the best methods for filing claims. This includes taking pictures and video of the damage and collecting crucial information to share with the insurance company to help speed up the claims process, utilizing “fast-track” phone apps and other expedient methods. For those policyholders needing assistance with claims, she shared the Florida Department of Financial Services Insurance Claims Assistance Hotline at 1-877-693-5236. Lisa also discussed the need for flood insurance and how most standard homeowners insurance policies do not cover flood damage. She pointed out that Florida has been a leader in the nation with model laws t...

6 MIN2018 OCT 11
Comments
Lisa Miller on Hurricane Michael Insurance Claims

Episode 13 - Insurance Nerds

It’s an insurance agent – it’s an adjuster – it’s an underwriter – no, it’s an Insurance Nerd! In an industry that sometimes screams boring and is full of complex, technical jargon, comes a refreshing team of veteran insurance professionals that are out to change that. Their goal: to engage younger people considering different career paths and show them that insurance can be fun and personally satisfying work. Along the way, they’re changing the stuffy corporate culture that is often a barrier to Millennials and Generation Z’ers joining the industry. Host Lisa Miller talks with Nick Lamparelli, a 20+ year industry professional who is Chief Evangelist for the Insurance Nerds. He talks about the talent gap that exists in the industry today, the surprising challenges he and his colleagues have encountered, and shares the answers they’ve uncovered to successful recruiting. Show Notes: Nick Lamparelli of New Hampshire has worn many hats in his insurance career. He started his c...

19 MIN2018 AUG 9
Comments
Episode 13 - Insurance Nerds

Episode 12 - The Prize in Real Estate

The real estate market and the insurance market are intertwined – in fact, “property” is literally the first word in property & casualty insurance. Both are highly value-based, as higher property values require higher insurance premiums to provide adequate coverage. But there’s a bigger picture: the connection between real estate and promoting investment and job creation, where property sales and insurance will then naturally follow. Host Lisa Miller talks with John Sebree, a Florida real estate leader who is now CEO of the Missouri Realtors®. While stressing that every state has or should have international business, Sebree shares how Florida’s natural connection to Latin American and Caribbean investors and increasingly the Europeans, are netting benefits for our real estate – and insurance markets. Show Notes: Real estate creation and increased sales create more property insurance sales and activity in related lines, such as automobile insurance. A recent study by the Nati...

17 MIN2018 JUN 7
Comments
Episode 12 - The Prize in Real Estate

Episode 11 - Driving Blockchain Home

The emerging distributed ledger software technology Blockchain, being developed for use in financial transactions, has applications in how we manage insurance information, too. It could one day be used to reduce Florida’s nearly 27% rate of uninsured drivers – the highest in the nation – while providing added convenience and money-saving efficiencies to both consumers and insurance companies. Blockchain technology is also touted as an answer to the current climate of data breaches and compromised personal information. Host Lisa Miller, a former deputy insurance commissioner, talks with the leader of the insurance consortium applying Blockchain and a Florida State Senator who calls it the next wave in the insurance space, especially when it comes to fighting growing insurance fraud. Guests on the podcast are Christopher McDaniel, Executive Director of the RiskBlock Alliance and Senator Jeff Brandes (R-Pinellas County) who discuss what exactly Blockchain is and isn’t, how it’s cu...

20 MIN2018 APR 18
Comments
Episode 11 - Driving Blockchain Home

Episode 10 - Modeling for School Shootings

The aftermath of the Parkland, Florida school shooting and other major casualty events can greatly impact the insurance companies that provide liability policies to schools, hotels, and other venues. While these policies traditionally cover a variety of more ordinary events, some policies never contemplated – and priced the risk for – the increasingly unusual catastrophic events seen over the last few years. Now there are new tools to help insurers and their reinsurers better calculate previously difficult and unmanageable risks, leading to better coverage for these venues and ultimately those they serve. Host Lisa Miller talks with Robin Wilkinson, Vice President and Managing Director of Casualty Analytics at AIR Worldwide, a Verisk company, about its new scenario-based Casualty Risk Modeling. Ms. Wilkinson explains how the modeling works with mass casualty events, how it’s helping insurers and reinsurers better rate the risk of both sudden and systemic events, and the types of ...

16 MIN2018 APR 3
Comments
Episode 10 - Modeling for School Shootings

Episode 9 - The AOB Trap

Fort Myers retiree Sandra Carlstrom suffered extensive water damage to her home when Hurricane Irma’s 115 mph winds and flying debris left holes in her roof and outside trim. But a second – and more threatening – round of damage would occur a week later, when she received a glossy flyer in her mailbox from a contractor offering to perform a free roof inspection and repair all the damage. Three months later, no repairs have been made and worse, she’s been threatened with a lawsuit and lien on her house by the contractor – all because of an Assignment of Benefits (AOB) contract she signed with him. Host Lisa Miller, a former Florida deputy insurance commissioner, talks with Sandra Carlstrom and her daughter Kirsten about how a loose temporary roof tarp unraveled a tale of deception and the utter panic they’ve been in since discovering the $191,000 bill sent to their insurance company for a roof replacement that should only cost $30,000. Despite a growing number of such AOB abuse...

16 MIN2018 JAN 2
Comments
Episode 9 - The AOB Trap

Episode 8 - National Flood Insurance Reform

Congress is pushing into 2018 a decision on how to reform the beleaguered National Flood Insurance Program (NFIP) that 1.8 million Floridians depend on for their property flood protection. Congress must reauthorize the program as well, because without it, federally-backed home mortgages which require flood coverage for high-risk zoned properties could come to a standstill. But the taxpayer-subsidized NFIP is $25 billion in debt and still using old flood data and maps, with rates that don’t match risk. Congress is considering reauthorization under a package of reform bills called the 21st Century Flood Reform Act. Host Lisa Miller, a former Florida deputy insurance commissioner, explores two of those key reforms on this program: what to do with grandfathered properties that are still enjoying 1960’s-era premiums and riddled with repetitive losses, and how best to encourage private flood insurance market alternatives. It’s estimated that 77% of Florida properties would see lower pr...

16 MIN2017 DEC 8
Comments
Episode 8 - National Flood Insurance Reform