Home Buyers Win - Home Buyer Tax Credits and National Flood Insurance Program Extended

Posted: 7/5/2010

It's official. The President signed the extension bill and FEMA has released the following statement:

The President signed the National Flood Insurance Program Extension Act of 2010, H.R. 5569, which Congress passed on June 30, 2010. This now extends the NFIP through September 30, 2010, and is retroactive to cover the lapse period from June 1, 2010, to the date of enactment of the extension.

Source: moneywatch.bnet.com

The Senate finally approved the extension of the home buyer tax credit closing date. To qualify for the home buyer tax credit, you must now close your deal by September 30.

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Hurricane awareness week proclaimed by Obama

Posted: 6/3/2010 - Source: e-wisdom.com

One disaster that could cause consumers to have to tap into their home insurance is a hurricane, and President Barack Obama recently urged Americans to be prepared.

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CFO Sink Asks Commissioner McCarty for Information on Florida Insurers In Preparartion for Hurricane Season

Posted: 5/8/2010 - Source: MyFloridaCFO.com

You can’t be living in the world of insurance in Florida and not wonder what’s going on with our industry? Apparently Florida CFO Alex Sink has been wondering some of the same things. Attached is her letter to OIR Commissioner Kevin McCarty inquiring whether any additional actions may be necessary by OIR prior to hurricane season to ensure authorized property insurers are financially capable of meeting their obligations through the course of the 2010 hurricane season? We’ll be looking for the answers. A copy of the letter here.

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What Do Applicants for Florida Driver's Licenses or State ID Cards Need to Bring with Them to the Licensing Office?

Posted: 4/28/2010 - Source: GatherGoGet.com

Beginning Jan. 1, 2010, new documentation requirements will take effect for Florida residents wishing to obtain a driver license or identification card. Those wishing to obtain a new license, legally change their name prior to their renewal date, or immediately replace a lost or stolen license or ID card will be required to visit a driver license office and show proof of:

• Identification
• Social Security number
• Residential address (two items)

Those simply renewing may do so by a convenience method, via the Internet or mail, one time between office renewals. The renewal following a convenience option must be in a state driver license office (or participating tax collector office) where new requirements will be in effect.

Floridians are encouraged to visit www.GatherGoGet.com to find out how and when to gather your documents, go to a driver license office and get your new card. This online hub allows residents to obtain contact information showing where to get required documents, create personalized checklists and browse a list of local driver license offices in their area.

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Posted: 3/02/2010 - Source: InsuranceJournal.com

Concern regarding funding for several federal programs, including flood insurance for homes and businesses, have caused one senator to hold out his vote for reauthorization, effectively allowing these programs to expire on Feb 28. Until the matter is resolved in the Senate, the National Flood Insurance Program (NFIP) will be unable to:

• Issue new flood insurance policies
• Increase coverage for existing flood insurance policies
• Approve renewal of flood insurance policies
• Pay flood insurance claims

Reauthorization is anticipated during the week of March 1, when it is believed the Senate will be able to address the unresolved issues with funding. It's likely the eventual solution will make service of these policies retroactive to include the period of limbo between the Feb. 28 date of expiration and the reauthorization. In the meanwhile, however, the insurance agents writing homeowners insurance policies and commerical insurance writers offering flood insurance coverage have had their hands tied on this critical coverage.

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Posted: 2/03/2010 - Source: CNET News

Safe driving practices have always influenced auto insurance rates to some extent. Citations resulting from poor driving habits also influence car insurance rates. Some habits, such as using your phone and allowing other distractions while driving, are too dangerous to ignore.

A new study by the Highway Loss Data Institute (HLDI) featured in this CNET News article outlines the need for dealing with the larger issue of all types of driver distractions, not just use of mobile phones as addressed in a new law.

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Running a Small Business? Check Your Insurance

Posted: 1/22/2010

Unfortunately, many small businesses fail when it comes to proper small business insurance coverages. If you own a small business or are thinking of starting a small business, here are some things you need to know when it comes to insurance for small business.

When Is Workers Compensation Required?

The type of business - defined by classification codes as either construction or non-construction - and the business structure are the key factors in determining whether workers compensation coverage is required.

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When Is Commercial Auto Insurance Required?

Florida law requires business owners to have commercial automobile insurance under these circumstances.

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