We have seen a dramatic increase in carriers changing their Homeowners Appetite in Florida and other carriers leaving the Florida Marketplace all together. Here are a few of the changes affecting the High Value Marketing Place:

1. Ironshore pulls out of High Value Homeowners effective 10/1/19.
2. AIG Non-Renews thousands of FL Homeowners, Excess Flood and Jewelry Policies
3. Chubb Non-Renews hundreds of policies in Central Florida
4. Lexington goes to 10% Hurricane deductibles in Tri-County after 9/1 for any home valued under $500k
5. Carriers both Admitted and Non-Admitted take double digit rate on policies.

What can you do when insureds impacted by these changes call in?

1. Where are they located? What market changes affected them? We are having great success in rounded accounts where home/auto discounts can be applied with either Chubb or Nationwide.
2. Be sure to review all updates on the home. Confirm that when you are remarketing you have information on ALL updates to the home. Four points are more important than ever when remarketing accounts.
3. Consider new carriers – ICAT? Tower Hill? – Consider these options for some of your non-renewals. Send your submissions to [email protected].
4. Major rate increase? Be sure to review the wind mitigation rating on the account. Many homes built before 2002 are rated as having original roofs even when this is not the case. A wind mitigation form can sometimes save insureds thousands of dollars by applying FBC credits, and updated attachment credits.
5. CONTACT YOUR UNDERWRITERS. Your Halcyon team is here to discuss each non-renewal with you and help you come up with the best solution for your insureds! If you send us an email with your concerns, we can research the account and contact you with a strategy to help you retain the business