The Florida Division of Insurance Fraud announced this month the arrest of a Naples, Florida man, Daniel T. Phelps.  Phelps allegedly stole two insurance claim payments totaling over $96,000 from an elderly New Jersey business owner who shortly after Hurricane Sandy in 2012, sustained damage to his business.

George Capuzzi had filed an insurance claim as a result Hurricane Sandy. However, he suffered from health-related issued and was in need of assistance with the filing of the hurricane insurance claim for his business. Considering Capuzzi’s need for assistance, a mutual friend referred Daniel Phelps to Capuzzi as someone who could assist him the claims filing process.

The Division of Insurance Fraud received information demonstrating that Phelps had stolen two checks from Capuzzi who was awaiting an insurance disbursement to make the necessary repairs to re-open his business in Atlantic City, New Jersey.

Phelps took advantage of the elderly business owner and re-directed the delivery of the insurance claim checks to his girlfriend’s home in Naples. Once mailed, Phelps took a trip to South Florida. After receiving the checks, Phelps fraudulently endorsed Capuzzi’s name. Phelps attempted to mask the fraudulent deposit by utilizing his step-brother’s driver’s license to deposit the checks into a joint bank account. He then transferred the funds out of the joint account into his personal bank account, where he used the money at will.

During the following three months, the Department of Insurance Fraud said Phelps spent the $96,000 on a new Jaguar car, a trip to Key West, a boat, and Lasik eye surgery. As of today, due to Phelps’s fraud George Capuzzi’s business has not re-opened.

Earlier this month, Phelps was picked up at the Broward County Health Center on charges of grand theft, scheming to defraud, and criminal use of personal ID. Phelp’s case will be prosecuted by the Office of the State Attorney.

Just this past summer several powerful windstorms have hit  several areas in Florida. These storms have been strong enough to damage shingles and tear off roofs.

As advocates for policy holders, we have seen that many insurance claims arising out of storms will be underpaid, delayed, or wrongly denied. Homeowners may be intimidated by denial letters and left without direction.

Regardless of why your damages have not been paid, we can review your claim free of charge. Hire an insurance expert who can navigate you through the process and rightfully obtain a settlement for your damages.

We will let you know whether the insurance company is acting with good faith and doing the right thing. If legal representation is advised and we obtain a fair settlement, insurance company will be responsible for paying attorney’s fees and cost.

Our goal is to get you a settlement that is rightfully yours. We will not let “NO” be the final answer. Call The Mineo Salcedo Law Firm for a free consultation.  (954) 463-8100.

 

Properties in Florida have a greater propensity to have roof damage from wind or hall. If you have lived in Florida for several years, you may have experienced storms that could have potentially damage to your roof.  Luckily, in many cases storm damage to your roof will be covered under your property insurance policy.

However, insurance companies may not always properly evaluate damage and many insured’s will end up with a denied claim. The following are strategies many carriers use:

·       Reporting that damages are due to construction errors in installation.

·       Denying the coverage under the wear and tear exclusion in policies.

·       Carriers will blame deterioration when the roof had not leaked until a hail or wind storm. It is important to note that most shingle roofs in Florida have a 20 year life.

·       Florida law requires that 25% or more of the roof to be damages in order to receive full replacement from the insurance company. Insurance companies may agree to only pay a small portion even if more than 25% is damaged.

·       Hiring engineers who will report that the roof has little to no damage.

Our firm has successfully litigated roof claims against some of the largest insurance companies and often when a case is won, the insurance company will be responsible for paying attorney’s fees and cost.  Think you have roof damage?  Call The Mineo Salcedo Law Firm for a free home inspection and consultation.  (954) 463-8100.

Tropical Storm Erika was treated as a breeze for South Florida. However, it was an effective practice drill for the community.

Tropical Storm Erika teased South Florida for several days. We experienced some flood advisories and lightening but no major incidents.

Many expected South Florida to be out of practice for a hurricane because we have had very few threats since Hurricane Wilma hit in 2005 when it took a surprised U-turn across the Everglades and caused $20 billion in damages.

Yet if South Florida was rusty in hurricane preparedness, it sure did not show any signs of it. Drivers patiently waited to fuel their vehicles. Locals bought supplies out of grocery stores ahead of time and there were minimal reports of impolite shoppers or panic. Many residents put up hurricane shutters and stored outside objects that had the potential of becoming flying projectiles.

Government official had the opportunity to test out their emergency plans. Government Rick Scott declared a state of emergency which allows Florida to seek assistance from the federal government and other states if the need arises.

Many questions are still left unanswered.  The revised flood maps, specifically in Palm Beach cities and western Broward have allowed property owners to opt out of buying flood insurance. What effect will this have in the event that a flood does occur?

Citizens Property Insurance Corp has outsourced thousands of policies to fairly new companies. South Florida has not experienced a hurricane in over 10 years. Will the upstart companies be able to properly respond to a catastrophe?

Are groceries stores and gasoline stations truly prepared? Due to the hour-long lines at gasoline stations after Hurricane Wilma, a law was passed that now require back-up generators at gas stations within a half-mile of an evacuation zones and interstate highways.

How well can county water managers handle the control of canal levels and stormwater pumps to reduce flooding?  How efficiently have 911 emergency service response systems handled storms?

Florida Power and Light and other utility companies are also of concern. How quickly can companies like FPL address power interruptions?

Most of these questions can only be answered through actual experiences and for now, will be left for another storm and hopefully another season.

Suffered storm damage?  Call the experts at The Mineo Salcedo Law Firm for a free consultation.  (954) 463-8100.

Knowing what insurance policy to purchase can be quite a task if you are unfamiliar with the market. As one of the largest assets Americans own, it is recommended that you carry adequate coverage against a loss to your home.

Homeowners insurance will mitigate the risk of loss from various causes of loss such as, hurricanes, theft, fire, and water damage. The standard policy will generally cover property structure, personal property and provide protection against liability for accidental damage to other people’s property or injured invitees.

Do your homework in choosing a policy; you have to make sure you can rely on the company you choose. Here are some tips to help you through the process.

1. Most states have websites that contain information to help indicate an insurance company’s health. The state websites will contain information such as complaints, insurance company rating, and fraud reports. What matters is that the insurance company provides service quality, customer satisfaction, and has the financial capacity to meet its obligations.

2. Decide the amount of coverage you need. If you have a mortgage, the lender may require you to carry policy limits that cover the property to your loan amount. Keep in mind that the better your coverage the less you will have to pay out of pocket. The policy rate you pay will depend on various factors such as the location of the property and the amount of coverage you select for your home, personal property and contents.

3. Chose a deductible that you would be comfortable paying out of pocket if you file a claim. A deductible is the amount you have to pay out of pocket for every claim you file.

4. Some causes of loss are not covered under a homeowner’s insurance policy. For example, floods are not covered; you will need to purchase a separate flood policy. It is recommended that you purchase a policy if your property is located within a high flood risk area. If this is the case, some lenders may require you to purchase a flood policy.

5. Shop around for policies. Note that you are not required to purchase a policy from the insurance company your lender recommends. Visit several agents and get a couple of rates from different insurance companies to insure you are receiving the most affordable rate as well as one that meets your needs.

If needed seek assistance from an insurance professional. A qualified insurance agent will conduct a thorough analysis of your insurance needs. Check with your agent every year to insure your policy is providing adequate coverage. In the unfortunate event that you suffer a loss which requires that you file a claim, do so immediately after contacting someone who is knowledgeable about property insurance policies. The professionals at The Mineo Salcedo Law Firm have over 50 years of combined experience in the insurance industry and would be happy to discuss your claim with you. Call (954) 463-8100 for a free consultation.

Knowing what insurance policy to purchase can be quite a task if you are unfamiliar with the market. As one of the largest assets Americans own, it is recommended that you carry adequate coverage against a loss to your home.

Homeowners insurance will mitigate the risk of loss from various causes of loss such as, hurricanes, theft, fire, and water damage. The standard policy will generally cover property structure, personal property and provide protection against liability for accidental damage to other people’s property or injured invitees.

Do your homework in choosing a policy; you have to make sure you can rely on the company you choose. Here are some tips to help you through the process.

1. Most states have websites that contain information to help indicate an insurance company’s health. The state websites will contain information such as complaints, insurance company rating, and fraud reports. What matters is that the insurance company provides service quality, customer satisfaction, and has the financial capacity to meet its obligations.

2. Decide the amount of coverage you need. If you have a mortgage, the lender may require you to carry policy limits that cover the property to your loan amount. Keep in mind that the better your coverage the less you will have to pay out of pocket. The policy rate you pay will depend on various factors such as the location of the property and the amount of coverage you select for your home, personal property and contents.

3. Chose a deductible that you would be comfortable paying out of pocket if you file a claim. A deductible is the amount you have to pay out of pocket for every claim you file.

4. Some causes of loss are not covered under a homeowner’s insurance policy. For example, floods are not covered; you will need to purchase a separate flood policy. It is recommended that you purchase a policy if your property is located within a high flood risk area. If this is the case, some lenders may require you to purchase a flood policy.

5. Shop around for policies. Note that you are not required to purchase a policy from the insurance company your lender recommends. Visit several agents and get a couple of rates from different insurance companies to insure you are receiving the most affordable rate as well as one that meets your needs.

If needed seek assistance from an insurance professional. A qualified insurance agent will conduct a thorough analysis of your insurance needs. Check with your agent every year to insure your policy is providing adequate coverage. In the unfortunate event that you suffer a loss which requires that you file a claim, do so immediately after contacting someone who is knowledgeable about property insurance policies. The professionals at The Mineo Salcedo Law Firm have over 50 years of combined experience in the insurance industry and would be happy to discuss your claim with you. Call (954) 463-8100 for a free consultation.

Natural disasters can strike us at any time. Homeowners can insure they are best prepared by documenting their home inventories. Home inventories are detailed list of household and personal belongings with their proximate value.

“The format is not nearly as important as just having some kind of list” said Jeanne Salvatore of the New York based Insurance Information Institute, a nonprofit that helps educate the public about insurance.

“Just going around your home with a pen and paper taking notes, or making a video with your smartphone of yourself walking around you home and describing the things around you, can make a world of a difference when you need to make a claim.”

Inventories are recommended for homeowners, renters, and even places of business.

“Regular people, whether they’re homeowners or renters, need home inventories way more than the wealthy, because they need the money more.” Salvatore said. “People always say they don’t have a lot of stuff. But If you add up the cost of your bed, with your mattress, mattress cover, bed frame, and maybe a few suits hanging in your closet, some high-tech items or small appliances, and bike or golf clubs, it easily adds up to thousands of dollars. And you’re going to really depend on that money to get up and running again after a disaster.”

Experts estimate that less than 40 percent of households have compiled a detailed inventory of their belongings. Having an inventory may decrease the time it takes to process a claim and can even mean the difference of whether you are reimbursed for your loss.

The goal is to value your personal property that was destroyed or damaged in the least time-consuming and painful way possible.

Basic Strategy   

Creating a home inventory is as easy as putting together a list of belongings and their estimated value. It is also recommended that you save receipts when you buy valuable items and get in the habit of taking photos. In the occasion that you did not keep receipts, copies of credit card bills, serial numbers, or even notes on where and when item was purchased can be of great help.

Taking on the task of creating an inventory list will take time to put together. Salvatore suggests that if you have children to get them involved as well. Have the children take pictures of their own rooms, taking photos of their sporting goods, computers, gaming systems and, all other personal belongings.

There are also software programs available to help prepare inventory which are free or inexpensive. However, experts say there are benefits to hiring home inventory companies to get the job done. Hiring a home inventory company can generally cost $500-$800 but can save thousands of dollars in potential losses. The great advantage of having an experienced expert to do the inventory is that there is no dispute of the claim. Having a third-party eliminates the burden of proof that it is not fraud.

Homeowners may also want to send a copy of their inventory list to their insurance agent to assure they are carrying adequate coverage. If possible, update your home inventories annually. Do it at the same time every year so that it is easy to remember.

“Take a look at your garage and ask yourself what you’d want to claim if it went up in smoke. It might be as simple as detailing and photographing gardening and sporting equipment,” said Salvatore.

Make sure to include your wardrobe, which can add up to a lot. Take into account sentimental or irreplaceable items, such as painting and jewelry. Although they may not be replaceable, it is possible to replace it with another item of the same value.

http://triblive.com/business/realestate/8860801-74/insurance-inventory-inventories#axzz3j5UkERuc

Just last month, Hillsborough County gave two Valirco families three minutes to get out of their homes. This is shortly, after a 6- foot deep sinkhole opened between their homes.

The sinkhole is between property line 4724 and 4726 Copper Canyon Blvd. A local news station discovered the homeowners of 4724 Canyon filed a claim with their insurance company in connection with significant cracks in January. State Farm investigated by hiring an engineering firm which documented cracks and found sinkhole activity under the home. However, State Farm denied the homeowner’s claim to stabilize the house. “They told them, ‘Oh, you’re fine, and now, eight months later, we know what the definition of fine is,” said Chris Codling, an attorney representing that homeowner, Santiago Trujillo.

Now geologists and engineers from both homeowners’ insurance companies are investigating the damage by using ground penetrating radar to determine the activity is going on beneath their homes.

However, the homeowners remain are worried about what will happen to their personal belonging and homes, questioning why State Farm didn’t take the proper steps to stop this from happening.

Codling explained that Florida laws changed in 2011 that now allow insurance companies to deny sinkhole claims if they determine the sinkhole activity has not caused structural damage.

Codling says his clients maintained that the cracks were structural damage, and initially worried about a sinkhole opening under the house since they first reported their claim. Nonetheless, State Farm stated that the structure was intact.

State Farm is now forced to fix both properties, including the home next door that belongs to 80-year-old Yolanda Altreche and her husband. They got out with only the clothes on their backs and are terrified.

“It’s taking a toll on me,” she said. “I’m not a young person. I’m an old woman. It’s hard. It’s very hard.”

http://wfla.com/2015/08/14/valrico-sinkhole-victims-told-insurance-company-about-cracks-in-january/

Kevin McCarty, Florida Insurance Commissioner and top regulator voiced his concern over federal flood insurance rates in a letter to state Senator Jeff Brandes. McCarty stated they were “unfairly discriminatory” and will ask U.S. officials for data that may possibly help private companies set rates and compete. “The averaging together of zones with different costs and charging one rate would be considered unfairly discriminatory from an actuarial perspective which would not pass scrutiny under Florida law.”

Brandes told The Palm Beach, “It confirmed what we knew: There’s no justification for these rates.”

Federal flood insurance rates are not under the control of state regulators. Florida officials say the state has approximately 37 percent of all the flood polices in the National Flood Insurance Program- but is paying out a lot more than it gets back under the program. Evidence suggest the National Flood Insurance Program has paid out 28.3 cents in losses for every dollar in premiums collected in Florida from 1978 to 2012, these rates are affecting more than 2 million Floridians, McCarty said.

“This is not an alarming loss ratio and does not seem to suggest that dramatic increases are needed for Florida Risk,” McCarty wrote.

The national flood program’s $24 billion debt gave rise to the 2012 overhaul in Congress which opened the door to rate increases of up to 1,000 percent for some property owners in Florida and several coastal states. That sparked commotion from consumers and business groups that the rates were crushing real estate sales and paralyzing local markets.

Approximately one in five policies nationally, and about 5,000 in Palm Beach County, fell into the category of homes facing the biggest hikes. A GOP-led Congress redrafted the law governing the flood program in 2014. The law now allows rate increases up to 18 percent a year for homeowners, along with additional surcharges.

“Floridians deserve to know if the rates they are paying are based on fact or fiction. I believe it is the role of the state to provide that transparency.” Brandes said.

Brandes sponsored a bill that was passed and came into effect last year to encourage private insurers to enter the market, which currently remains dominated by the federal programs. In a recent letter to Florida congressional delegation, Brandes called for greater access to federal loss-history data in an effort to help provide that transparency.

Private insurers are starting to write their own flood policies, which include supplementary coverage beyond the $250,00 of the protection the federal program offers. The supplementary coverage includes “surplus lines” insures such as Lloyds of London, whose rates are not regulated by the state.

A few private companies have ventured forward. Take Tampa-based insurer Homeowners choice for example, who recently announced in 2014 that it would offer a limited number of flood insurance policies as a state-regulated carrier.

The private industry has remained involved and continues to reap premium benefits. The Palm Beach Post found last year that private agents and insurance companies have pocketed one in three governments flood premiums dollars to sign up people and administer policies all while assuming no risk.

Watchdogs including Congress’ General Accounting Office have look into about $10 billion in fees since the 1980s private middlemen.

Links to site:

http://www.palmbeachpost.com/news/business/flood-insurance-rates-unfairly-discriminatory-top-/nnKfx/

http://staugustine.com/news/florida-news/2015-08-15/flood-insurance-rates-unfairly-discriminatory-top-regulator-says

http://www.insurancejournal.com/news/southeast/2015/08/18/378884.htm