Price Optimization: What it is & what it isn’t

Florida regulators issued a memorandum to insurers recently to eliminate the use of something called price optimization. That’s probably an unfamiliar term to most people. It’s interesting that the memo had to define what “price optimization” is in order for insurers to stop doing it. Simply, the memo from the Florida Office of Insurance Regulation was to stop a practice that few insurers are using in the first place and that may actually help lower insurance costs.

Price optimization is a tool that other industries have used for years,

Business owners: Review insurance coverage before hurricane season


At the Governor’s Hurricane Conference this week, we delivered a presentation on what small-business owners need to know about insurance. It was titled “Coulda, Woulda, Shoulda” because, unfortunately, that’s a lament heard after disaster. If you own a business, do everything you can now to put your business in a position to survive.

There are dozens of business insurance coverage options, and a small business probably doesn’t need them all.

Ugly mob brings havoc; insurance brings restoration

Although Baltimore is a thousand miles away from Florida, because of the images of rioting, it feels closer.

Although Baltimore is a thousand miles away from Florida, because of the images of rioting, it feels closer.

Last night’s evening news overflowed with coverage of the riots in Baltimore. Today’s news is focused on the aftermath and cleanup. including the insurance that comes into play. Although Baltimore is a thousand miles away from Florida, because the images of rioting and the subsequent damage are seen so vividly in our own homes and businesses, it feels closer. And, it is prompting questions about property losses, which the team at the Insurance Information Institute has been fielding all day.

Do seasonal hurricane forecasts matter? Purpose is preparedness

The pre-hurricane season forecast was released today, and it “suggests” the 2015 hurricane season will be well-below average. I used the word “suggests” because the researchers themselves say this forecast is about probability; it cannot be an exact prediction because atmospheric conditions change like (um) the weather. And, armed with information about what is likely, most people will do…nothing. Too bad.

Spring into home maintenance

“If it ain’t broke, don’t fix it” is an adage that is all wrong for home maintenance. By the time something breaks, you could be in hot water—or without hot water if it happens to be your water heater that breaks.

Cold weather haters: Unite against freezing pipes!

We don’t do “cold” very well in Florida. It’s an unfamiliar occurrence, for which we are grateful. However, cold temps are predicted for many parts of the state in the coming days, and you’ll want to heat up your knowledge on surviving the chill.