FEMA 2.0 Rate Changes – October 1, 2021

FEMA 2.0 Rate changes will occur October 1, 2021.

There is a limit on the FEMA Annual Premium Increases the existing statutory limits on rate increases require that most rates not increase more than 18% per year.

In Florida 20% of Flood policies will have an immediate decrease, 68% of flood policies will have $0-$10 rate increase per month 8% of policy holders will have $10-$20 per month rate increase and 4% of policies will have greater than $20 Per month.

Click here to see the Florida Flood Rating Changes sheet.

Click here to see the National Price change Average sheet.

Click here to see an informative video that explains the modeling system that FEMA is now using.

Thank you for giving Blackwell Insurance the opportunity to service your insurance needs!

Do You Know Your Flood Insurance Rate

Great article in the Panama City News Herald about flood insurance! Give it a read and then give Blackwell a call to discuss! READ THE ARTICLE HERE

Office Approves a 9.5% Decrease to Florida’s Workers’ Compensation Insurance Rates

Office Approves a 9.5% Decrease to Florida’s Workers’ Compensation Insurance Rates


TALLAHASSEE, Fla. – Florida Insurance Commissioner David Altmaier has issued a Final Order granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall rate level decrease of 9.5% and premium level decrease of 9.8%. This applies to both new and renewal workers’ compensation insurance policies effective in Florida as of January 1, 2018.

“I am pleased that today’s approval of NCCI’s rate filing will translate into a decrease in workers’ compensation rates for many Florida employers,” stated Commissioner Altmaier. “The Office will continue to monitor the marketplace and support reforms that provide additional cost savings for Florida’s businesses.”

“Florida’s job creators will no doubt appreciate this significant cost savings, a step that will support our state’s growing economy,” said Florida’s Chief Financial Officer Jimmy Patronis. “I’m pleased to see the cost of business going down, and as the Legislature looks at our workers’ compensation system, I will be working with them on proposals to lock in these lowering

NCCI received this approval after submitting an amended rate filing to the Office on November 7, 2017, which met the stipulations of an Order issued by the Commissioner on October 31, 2017.

For more information about the NCCI public hearing and rate filing, visit the Office’s “NCCI Public Rate Hearing” webpage.

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com or follow us on Twitter@FLOIR_comm and Facebook.

Cyber Liability Exposure

A Cyber Liability policy would respond to this type of Event!  Protect your Business!  Call Us for Quote Today!

Read about it here:


How to Prepare for a Hurricane

This is a great Tool Kit that was put out by Travelers to Prepare for a Storm:


Be Prepared! We’re In the Peak of Hurricane Season!

This is an interesting article explaining why we are now in the peak of hurricane season. Be prepared, and call Blackwell with any questions about your business or home insurance!


Flood Insurance is Always a Good Idea

Please read the report from NPR of the recent flooding in Louisiana.

Danny and Alys Messenger canoe away from their flooded home in Prairieville, La., after reviewing the damage. As waters begin to recede in parts of Louisiana, some residents have struggled to return to flood-damaged homes on foot, in cars and by boat. Max Becherer/AP

From NPR

Even as thousands of residents of southern Louisiana are returning to their flood-damaged homes, more danger could lie ahead as rain continues to fall and the full extent of the damage can’t be known, according to state emergency response officials.

Preliminary casualty and damage reports are chilling. As we reported previously, 11 people are confirmed dead, 30,000 people were evacuated, and about 40,000 homes were damaged. And those are just preliminary numbers based on reports from 20 affected parishes, said Mike Steele, a spokesman for the Governor’s Office of Homeland Security and Emergency Preparedness.

“We still have to go out with FEMA to get a comprehensive assessment of the damage,” said Steele. “It’s still early in this process.”

So far, about 70,000 people have applied for federal assistance, said Steele. And that number could climb, he said, with reports of more rain in some southeastern parishes. Steele said the opening of schools could be delayed for days.

In the most heavily damaged parish, Livingston, east of Baton Rouge, about 75 percent of the homes were destroyed, according to the Associated Press. That parish is home to about 138,000 people.

Almost 15,000 homes were flooded in nearby Ascension Parish, Richard Webre, director of that parish’s Office of Homeland Security and Emergency Preparedness, told the Los Angeles Times. That’s more than 30 percent of the housing units in that community of 114,000 people.

In a statement, Brad Kieserman, vice president for disaster services operations and logistics for the Red Cross, estimated the relief cost will be at least $30 million. “The current flooding in Louisiana is the worst natural disaster to strike the United States since Superstorm Sandy,” said Kieserman.

President Obama declared the affected region a disaster area on Tuesday. Homeland Security Secretary Jeh Johnson is scheduled to visit the region on Thursday.

Press release from NCCI regarding the pending Workers Compensation Rate Increase of 19.6%.

NCCI proposed that the rate increased rates will apply to all policies in effect on October 1, 2016. Additionally, NCCI proposes that the increased rates will apply to all policies in effect on October 1, 2016 on a pro rata basis through the remainder of the term of these policies (the equals a mid-term rate increase on all Workers Compensation polices). If the rate filing is approved as filed increasing the rates by 19.6% Florida would rank as the highest state in the Southeast.

The rate hearing was today and it will have to go through the approval process with the Office of Insurance Regulation. The Office of Insurance Regulation’s decision will be made in a few weeks.

The Office of Insurance Regulation does not have to approve the rate increase or apply the rate increase as presented.

See the full NCCI Press Release here

Assignment of Benefits

If you assign the benefits of your insurance policy to a contractor, you lose control of your claim and many other problematical issues may occur in resolving your claim. Please contact your insurance carrier prior to signing any document from a third party vendor if it references your insurance policy benefits! Once you sign it, it’s too late!

Please see this educational video that was produced by the Florida Association of Independent Agents.

Protect your company, protect your customers, protect your brand – buy Cyber Liability Coverage

Cyber hacks are on the rise and you must have a Cyber Liability policy to be protected.

The third party vendor Sacred Heart Health System uses for it billing Operations was hacked which compromised health information of about 14,000 patients according to this New Herald Article.

How does cyber liability work for customers in similar situation?

When there is a breach in data, company that had the breach must comply with state required remediation and notification of breached individuals and potentially offer credit monitoring.

Below is an outline of coverage that can respond on behalf of insured at the time of a cyber-breach of their business.

1. Provides Risk Management & Loss Prevention Program prior to a loss

2. Offers Third Party Liability for Network & Information Security, Communications and Media Liability and Regulatory Defense Expense

3. Offers Crisis Management Event Expense, Security Breach Remediation and Notification Expense and Computer Program and Electronic Restoring Expense

4. Offers coverage for Computer Fraud, Funds Transfer Fraud, and E Commerce Extortion

Don’t let hackers be an administrative burden to your business!