Parts of Florida may see a small economic boost in Jobs. Allstate Insurance Company wants to expand its presence there and open around 50 new agencies. They’re estimating about 130 new jobs across the state would be created by this addition of offices. This is a big move for the insurance company that just six years ago dropped more than 95 thousand policies, and began scaling back the private property policies (in Florida). They based their decision to expand their agencies because of the huge growth in the north Florida…
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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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