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News & Press: News in Workers' Compensation

Insurance Insights- July 2018

Wednesday, July 18, 2018   (0 Comments)
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Dear Fellow Floridians,

The 2018 Hurricane Season has arrived and everyone needs to make sure they are financially prepared before a storm threatens our state. Our licensees have an additional responsibility to ensure they've taken the appropriate precautions for their business and customer base.

Please feel free to share some of our hurricane preparedness resources with your customers so that they can protect their home and finances before a storm threatens our state. You can find them on my homepage at www.myfloridacfo.com.

In this July issue, we've included information and guidance about issues that could affect your business and clientele should a storm approach. Also, how to recognize your risk and be prepared!

Sincerely,
Jimmy

Jimmy Patronis
Chief Financial Officer
State of Florida

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CFO Jimmy Patronis: Hurricane Season is Here,
Insurance Coverages You Didn't Know You May
Need for the 2018 Hurricane Season

On the official start of the 2018 Hurricane Season, Florida Chief Financial Officer (CFO) Jimmy Patronis reminds Floridians of the importance of financial preparedness before the next storm. CFO Patronis warns that homeowners insurance policies contain limitations and exclusions and it is important to review your policy to understand your coverages

"Last year, Hurricane Irma alone resulted in more than $8 billion in insured losses. If you haven't already, now is the time to financially prepare for the 2018 Hurricane Season," said CFO Jimmy Patronis. "Understanding your insurance coverage is a vital part of the hurricane preparedness process. Check your homeowners insurance policy and understand what is covered and what is excluded so that you have adequate coverage."

Homeowner's insurance policies vary from company to company. Here are eight insurance coverages you may consider for hurricane season:

Windstorm Coverage (if not included in your current homeowners policy).
Windstorm coverage may be excluded if you live in a wind pool area (generally within 1,000 - 1,500 feet of a body of water, such as the gulf or the ocean).


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