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Florida Agents Must Return $4M in Unearned Commissions From Insolvent Gulfstream

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Florida Agents Must Return M in Unearned Commissions From Insolvent Gulfstream


Insurance company bankruptcies are hard sufficient on insurance policy holders and also firm execs, however neighborhood representatives throughout Florida additionally are really feeling the discomfort from one current liquidation and also might quickly feel it from others.

The Florida Division of Financial Solutions has actually alerted representatives that billings for unearned payments for Gulfstream Residential property and also Casualty Insurance Policy Co., which was sold off last summer season, would certainly be sent beginning today.

The overall payments that need to be returned total up to around $4.1 million, and also need to originate from 985 companies, stated Kyle Ulrich, head of state of the Florida Organization of Insurance Policy Professionals.

That’s approximately $4,162 per firm. Yet some Florida companies composed hundredss of Gulfstream plans that were terminated prior to they ended, and also might encounter substantial costs.

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“I assume we’re most likely obtaining a costs for regarding $20,000,” stated David Radcliffe, a branch supervisor and also manufacturer at Undergrowth Anderson Insurance policy firm in Gulf Wind, Florida. “We have the cash, however suddenly we need to create a look for that.”

Numerous representatives in Florida in 2022 will certainly additionally be asked to return unearned payments from St. Johns Insurance Policy Co. and also from Character Residential Property and also Casualty Insurance Policy, which were considered bankrupt previously this year. Lighthouse Residential Property Insurance policy Co. was put right into receivership recently by Louisiana regulatory authorities, and also representatives in Florida might be asked later on this year to return their payments on those plans.

And also a lot more bankruptcies are anticipated prior to the year is out as numerous insurance providers remain to encounter losses from cyclone cases, roof covering substitutes and also lawsuits expenses.

Bradford

“It’s not an enjoyable time to be in the insurance coverage company as a representative today,” stated Brownish-yellow Bradford, proprietor of the We Guarantee firm in Navarre, Florida.

Bradford stated she had actually blogged about 50 house owner plans with Gulfstream, however has actually not yet seen the costs from the Division of Financial Solutions.

“I envision some companies will certainly be harmed a great deal greater than we are,” she stated.

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One panhandle insurance coverage firm apparently had actually created 1,600 plans with Gulfstream in recent times, representatives stated. Various other high-volume manufacturers around the state might encounter also higher expenditures. Gulfstream had greater than 35,000 plans effective when it was sold off in July 2021, state authorities have actually stated.

DFS suggested that all billings for unearned payments ought to be sent out to representatives by the end of May. The division, which is functioning as the receiver for Gulfstream, will certainly collaborate with representatives that require aid in paying, the FAIA’s Dave Newell stated Tuesday in a notice to representatives.

“Do not be reluctant to connect to the receiver to exercise a settlement strategy,” the notice kept in mind. “Please upload any type of concerns you might have regarding this procedure, so we can obtain explanation from the receiver.”

Gulfstream additionally ran in Texas, Alabama, Mississippi and also South Carolina, so representatives in those states additionally are impacted. A notification southern Carolina Residential Property and also Casualty Insurance policy Warranty Organization stated that representatives because state will certainly obtain notifications from Florida regulatory authorities regarding unearned payments.

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South Florida 11 p.m. Weather Forecast 11/23/2024

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South Florida 11 p.m. Weather Forecast 11/23/2024


South Florida 11 p.m. Weather Forecast 11/23/2024 – CBS Miami

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CBS News Miami’s NEXT Weather Meteorologist Dave Warren says to expect temperatures to drop late Saturday night with a light wind going into Sunday morning, bringing cool and dry conditions before a warming trend later in the week.

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FAMU football wins fourth straight Florida Classic vs Bethune-Cookman in nail-biter | Takeaways

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FAMU football wins fourth straight Florida Classic vs Bethune-Cookman in nail-biter | Takeaways



FAMU football defeated Bethune-Cookman 41-38 in the Florida Classic at Orlando’s Camping World Stadium. The Rattlers have won four straight Florida Classic over in-state rivals Wildcats.

Florida A&M football still reigns supreme over Bethune-Cookman.

The Rattlers defeated the Wildcats 41-38 before a crowd of 56,453 football fans at Orlando’s Camping World Stadium. It was FAMU’s fourth straight year beating its in-state rivals, Bethune-Cookman.

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FAMU outgained Bethune-Cookman 487-416. The Rattlers erased a 21-17 halftime deficit to claim the victory.

FAMU running back Thad Franklin Jr. starred for the Rattlers, carrying the football 26 times for 195 yards and three touchdowns. Franklin’s performance earned the Florida Classic’s Most Valuable Player Award.

FAMU football Thad Franklin Jr. runs all over Florida Classic rivals Bethune-Cookman

FAMU heavily relied on its rushing attack.

The Rattlers rushed 47 times for 305 yards.

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Behind Franklin’s MVP outing, Kelvin Dean Jr. also was productive on the ground. Dean added 14 carries for 103 yards and a touchdown.

FAMU quarterback Daniel Richardson picked his spots, completing 15 of 21 passes for 182 yards, a touchdown, and an interception. His top target was wide receiver Quan Lee, who had five catches for 81 yards and a touchdown.

FAMU football tested by Bethune-Cookman in Florida Classic

The Rattlers got a run their money with the Wildcats’ rushing attack.

Bethune-Cookman rushed 44 times for 183 yards. Dennis Palmer led the Wildcats with 37 carries for 178 yards.

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Despite that, FAMU had bent but don’t break situations.

For example, FAMU held up Bethune-Cookman in a critical drive after the Rattlers threw an interception with 8:10 left. Nay’Ron Jenkins tackled Bethune-Cookman running back Palmer for a loss to turn the ball over on downs on 4th and 1.

The Rattlers had six tackles for loss and an interception which was caught by Jenkins.

FAMU football’s special teams gives up yardage, touchdown vs Florida Classic rivals Bethune-Cookman

The Rattlers’ special teams unit put the team in compromising situations.

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Bethune-Cookman gained 123 yards on kickoffs on five returns.

Those returns pushed FAMU’s defense back in some situations.

On punts, the Rattlers gave allowed Wildcats punt returner Maleek Huggins to return a 51-yarder in the first quarter.

Gerald Thomas, III is a multi-time award-winning journalist for his coverage of the Florida A&M Rattlers at the Tallahassee Democrat.

Follow his award-winning coverage on RattlerNews.com and contact him via email at GDThomas@Tallahassee.com or on the app formerly known as Twitter @3peatgee.

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In-Game Updates: Ole Miss Football Continues Playoff Quest vs. Florida in Gainesville

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In-Game Updates: Ole Miss Football Continues Playoff Quest vs. Florida in Gainesville


The No. 9 Ole Miss Rebels have reinserted themselves into the College Football Playoff conversation, but in order to remain there, they have to win their final two regular season games, beginning on Saturday against the Florida Gators.

The Rebels (8-2, 4-2 SEC) have won three straight games since their overtime loss to LSU in Baton Rouge on Oct. 12, and after a bye week that followed a huge win over the Georgia Bulldogs, Ole Miss appears to be as healthy as it’s been all season entering this game against the Gators.

Running back Logan Diggs (who looked like he might see his first action as a Rebel this week after suffering an ACL injury last season with LSU) will not suit up in this game, but wide receiver Tre Harris is returning, and the Ole Miss defensive line appears to have a clean bill of health, according to the latest injury report from the Southeastern Conference.

According to the current betting odds at FanDuel Sportsbook, Ole Miss is a 12.5-point favorite in Saturday’s game against Florida. Can the Rebels pull off the road win and remain in the CFP hunt? Follow along below for in-game updates from the contest in Gainesville set to kick off at 11 a.m. CT.

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Game odds refresh periodically and are subject to change.

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As noted above, Ole Miss is rather healthy entering this contest, outside of the running back position. Wide receiver Izaiah Hartrup and running backs Henry Parrish Jr., Logan Diggs and Rashad Amos are listed as “out” in this contest, but no other Rebel made the latest injury report. That’s a good sign for Lane Kiffin’s team as it enters a hostile road environment.

It was also announced on Thursday night that Ole Miss will be using one of its road uniform combinations for the third time this season: powder blue helmets, white jerseys and white pants. This particular combination with the new white jerseys has only been worn twice all-time (both of which resulted in wins during the 2024 campaign).

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You can view the uniform below modeled by cornerback Trey Amos.





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