John Wheeler

 

In Matthew 7, Jesus illustrated the consequences of choosing the foundation on which to build a house.  The wiseman, who built his house on solid rock, withstood the rain, rising water and strong wind.  The foolish man built his house on shifting sand, and it fell with a great crash.  Of course, Jesus’ metaphor referred to putting His words into practice.  The man who disregards Jesus’ words will fall with a great crash.  Likewise, church organizations are built upon a variety of business foundations.  Some are built upon solid rock; others are built upon shifting sand.  Do your church’s business foundation, such as your bylaws, bookkeeping, policies, and procedures, resemble solid rock or shifting sand?

If you are a church leader, you are invited to join us for a lunch-n-learn to hear from legal, accounting and insurance professionals about building strong business foundations.  You will enjoy a nice lunch and be able to network with other local church leaders.

When: Thursday, October 20th, 2022.  10:30 AM to 1:30 PM

Where: The Blanche Hotel, 212 N Marion Ave, Lake City, FL 32055

Presenters: Guy Norris, Attorney at Law, Norris & Norris, PA; Cammy Scott, Certified Public Accountant, Odom, Moses & Co, John Wheeler, Chartered Property & Casualty Underwriter, The Wheeler Agency,

Space is limited to 100.  Please RSVP to 386-752-8660 or john@thewheeleragency.com

The average premium to insure a home in Florida increased 25% last year, and some homeowners suffered even greater increases.  In some cases, we have seen 100% increases.  Experts tell us the cause of the increases are rampant fraud, run-away litigation and rising inflation.  This video that tells the story.

There is hope on the horizon though.  Earlier this week, Governor DeSantis called for a special session of the Legislature to address the home insurance crisis.  We hope they get it right this time.

 

 

We honor our founder, Edwin Wheeler, this Veterans Day for his service in the Navy on the USS Franklin D Roosevelt and for his service in our community.  Thank you Jack Hampton for organizing American Heroes along SR 47.

Enjoyed reading the book A Jar of Happiness today at Little Rainbows in Lake Butler for Literacy Week Florida.  In the story, Meg thought happiness comes out of a jar but she learned happiness really comes from one’s heart.  Rotary gave away 1,300 books today to children enrolled in VPK programs.

 

 

Many of us remember the George Clooney movie where three storm fronts converged off the coast of New England to create the “Perfect Storm“.   There is an insurance version of the Perfect Storm brewing in the homeowner insurance marketplace.  Like in the movie, several storms are converging on homeowners simultaneously, and rates are expected to increase.  The insurance ratings company, AM Best, reports that, beginning June 1, many home insurance companies will increase rates 15 to 20 percent.  Other home insurance companies are in such poor financial condition that they are under direct supervision of the Office of Insurance Regulation.

You may be asking the same question State Senator Jeff Brandles recently asked recently, “Why did my homeowner insurance premium increase 26 percent?”

Reason #1:  Assignment of Benefits (AOB) Fraud

AOB is a scheme where unscrupulous water mitigation or roofing contractors get homeowners to assign the proceeds of the claim to them.  The contractor then inflates the work estimate.  When the insurance company refuses to pay the inflated estimate, the unscrupulous contractor sues the insurance company.  Unfortunately, the innocent homeowner is caught in the middle and the insurance company is forced to incur high legal fees to defend.   When the cost of claims increase due to fraud, premiums for all of us inevitably will increase.

Reason #2:  Hurricanes that won’t go away

Home insurance companies are still receiving new claims from Hurricane Irma in 2017 and Michael in 2018.  You may be thinking, why would a homeowner wait three years to report storm damage?  They wouldn’t under normal circumstances, but these claims are not genuine.  These claims are designed to get the insurance company into court where the  plaintiff attorney forces the insurance company to pay attorney fees inflated by 250%.  Unbelievably,  this is legal.

 

Insurance companies, of course, do not print money, they must pay these fraudulent claims from premium received from regular folks like us.  When fraudulent claims increase, our premiums increase.  We will see some increases in north Florida beginning June 1, but we do not expect the double digit increases that will be broadly applied in south Florida.

Source:  The Center Square

 

 

Gulf sturgeon have begun their migration back into the Suwannee River.  While we routinely remind drivers to watch out for deer on the roadways, we don’t want to forget about the Suwannee Sturgeon, which averages 5 feet in length and 40 pounds.  A watercraft collision with any of these stunting submariners could be catastrophic.   If you have an unfortunate encounter and your watercraft is insured with one of our partner insurance companies, we’ll pay for your repairs.  Call us; we are happy to review your coverage with you and guide you through the claims process.