Here’s a roundup of changes made to our Home Programs in Florida:
- On November 23, Swyfft launched it’s Florida E&S Home Program with loads of opportunity to write more biz. Details on Page 2 of the new Quick Reference Guide.
- Now, when quoting Admitted Home, you’ll be asked to enter address and insured name. Still takes seconds. We’ll run insurance score and several other factors to check for eligibility. We won’t use insurance score to rate an admitted policy at this time.
- All E&S Home policies are rated using insurance score. This will provide the best rate for your customers.
- If it doesn’t fit the Admitted Program (think barrier island, coastal, insurance score, many other factors), it might fit our E&S Home Program. And we’ll ask you if you want to continue with a quote for E&S Home. Just click Get Quote.
- An adverse action notice is sent to the insured when rate is adversely impacted by insurance score. BTW, there are many factors that could also adversely impact premium.
- Existing admitted Home policies may non-renew for several reasons. If insurance score is one of those reasons, customers will receive an adverse action notice.
- Good news…existing home policies that non-renew may be eligible for coverage through our E&S Home Program. Try quoting them. It only takes seconds.
- We don’t ask for SSN or date of birth, so no security risk there. Instead, we pull insurance score using a combo of address and insured name. So never enter a fake name. It will result in a “no-hit” insurance score.
- And while it didn’t happen last week, we did take a statewide rate increase earlier this year that’s still filtering through our Admitted Home renewals. If these policyholders are seeing increased premiums at renewal, that’s likely the reason.