Thousands of people in South Alabama are caught in a real bind – their present homeowner’s insurance carrier has cancelled their policy and they can not find replacement coverage. What is a home owner to do? The starting point is to find an independent agent that you can trust who can search out smaller specialty carriers. These companies are moving into a market that is being created by All-State, State Farm, Farmer’s and their like abandoning the citizens of this state in in favor of maximizing what are already record profits for the insurance industry.
… surplus lines, traditionally more expensive, are becoming price competitive for homeowners, some brokers and industry experts say. Investors have poured billions into new insurance ventures, particularly reinsurers, since 2005’s Hurricane Katrina. By 2007, that new money was cutting the cost of insurance from these less-regulated carriers, which are far quicker in responding to market changes.
Cum Laude graduate of Cumberland School of Law, Pet Mackey is a civil trial litigation expert who represents plaintiffs in business and consumer tort, contracts and construction, employment disputes and insurance. He is board certified as a Civil Trial Advocate by the National Board of Trial Advocacy, a Certified Alabama Mediator, and an “AV” rated lawyer by Martindale-Hubbell.