Florida insurance agency launched new interactive digital marketplace to help serve consumers

Strong Tower Insurance, an insurance agency based in Florida, has launched a new interactive marketing campaign in an attempt to broaden insurance coverage throughout the state. The agency has built a new website that will help consumers connect with the company and find policies that suit their needs. The website will serve as a virtual marketplace akin to the ones that will be set up in each state by health insurance exchanges. Instead of encompassing the whole of the state’s insurance companies, however, the policies found through the website will…

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Florida sinkholes causing major damage to homes

 The sunshine state is having more problems with sinkholes. A Florida company called CDS Business Mapping is working with insurance agents and underwriter’s to provide risk reports based on geographic data and maps. The company has mapped areas in ten counties that are sinkhole hazards. Florida’s Insurance Commissioner stated that sinkhole claims are one of the top five cost drivers that are causing insurance companies huge financial losses. In three years, Citizen’s insurance has paid almost 250 million dollars in sinkhole claims; and has another 100 million reserved for “in…

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Progressive offers a huge discount with new “Pay As You Drive” program

Earlier this year, the Progressive insurance company began offering Florida residents a pay-as-you-drive insurance program. Dubbed Snapshot, the program gives consumers lower rates of approximately 30% on average, based on their driving behavior. The insurer analyses driving habits with the help of a small device that is installed in vehicles. According to the insurer, the device has tracked over two billion miles, and is now ready to be used throughout the nation. Drivers that signed up are reporting a savings on average of $150 annually. Progressive notes that the possible…

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Are no-fault insurance laws creating fertile ground for fraudlent claims activity?

Florida legislators are facing pressure to make changes to the state’s no-fault auto insurance laws. Several insurers want to see changes that would help reduce the amount of fraudulent claims they are receiving. State law requires that drivers have personal injury protection coverage that would help them pay medical expenses whether or not they were at fault. The law is designed to avoid lawsuits but insurers are saying that it is creating incentive for drivers to stage accidents. The Property Casualty Insurers Association of America, along with the Florida Chamber…

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