August 2022

18 Florida Pool Prosm • August 2022 INSURANCE UPDATE Old Dominion Insurance, Auto Owners Insurance and Amerisure Insurance are all admitted carriers. That’s a good thing! The State of Florida reviews and approves all the rates and policy forms they use, they scrutinize each carrier individually financially and the State supports any insolvent carrier’s customers with the protections of the Florida Insurance Guaranty Fund. A non-admitted carrier, conversely, is allowed to do business in Florida, but the State is basically “hands off” regarding anything above. Plus, these carriers also must pay the state additional taxes and policy fees which they in turn charge you. You will see them on the declaration page of your policy. That is the easiest way to know. They retain at least 25% of your premium if you cancel early and the premium you pay will never be reduced. Even if the end of year audit shows lower payrolls, etc. you will never get a return or refund like you would with an admitted carrier. As mentioned above, non-admitted carriers also write and use their own policy and coverage forms without scrutiny by the State of Florida. It is literally a “buyer beware” situation. So, if you are insured by one of these carriers, SENSAFE ITSSENSAFE SENSAFE_ITS • • 800-861-9712 USING ALTERNATIVE POOL SANITIZERS? SALT LOW CHLORINE COPPER BORATE OZONE TEST WITH THE BEST! SIN0721_½ ad.indd 1 6/18/21 4:12 PM