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Sea Ranch Club

WE MADE THE LEAP…

Finally after many months…a decision was made unanimously by the SRC Board yesterday at a special meeting in the Ocean Room at 1 pm…attended by a handful of residents…

Parting ways with AON was something many residents have wanted for a while now…especially after a few board members took it upon themselves to look for alternatives…

But it was a couple of our managers that brought us into contact with our new agency…Smith Watson Parker…(see SRC category for posts on SWP) and for that …we should make sure they are acknowledged and appreciated….Jane the Manager of building A told us first of this most insistent agent…and what he had to offer….as she gave us the heads up for his first visit many months ago….and Lorenzo …back then the manager of building C who carried the ball to the board members of building C for a touchdown…after a brief fumble in-between ….when AON…came back and those who seemed loyal to our longtime agent ..appeared unwilling to part ways….that is until we were hit with the news that we would not be eligible to move out of Citizens as expected due to not replacing the 200 catwalk exit doors in buildings A & C…OUCH!….along with some board members and managers having difficulties with the new agent from AON newly assigned to represent us as our longtime Rep. moved up the corporate ladder…HMMMM…

A few questions were asked about Citizens VS QBE …. the state of Citizens….their financial viability amid all the recent news reports..and the account from one board member that AON sent all of the board members an e-mail warning of the problem of staying with Citizens…as we switch agencies…

John Nordinger…the Smith Watson Parker agent explained…we have no choice but to stay in Citizens due to the above situation…( building B will move into QBE for windstorm ASAP)…but that as of tomorrow…we should have new Citizens coverage that will save us over $200 thousand dollars…along with a 5% deductible VS the current 10% and additional savings for “all other winds” coverage of lowering the deductible from $8 million to $3 thousand…along with general liability savings from AAA rated…admitted carrier Chubb of $80 thousand…

He explained Citizens and QBE…and why we would want to move from one to the other…it has to do with assessments…that come from all Citizens customers in the case of a large storm payout…which would be 45% of our premium…for anything that happens within the state of Florida….being in QBE takes that assessment out of the equation….due to a deal QBE has with the state …an exemption due to QBE doing so much business in Florida….

This writer asked about QBE and their history of paying claims…in the last large storm…after reading articles of court cases against them….

John replied they paid out their claims well…and that behind the headlines…the court cases and mock trials…ended in settlements in QBE ‘s favor…due to over-inflated claims…that were knocked down to the actual amount the claimants were due…

A rated QBE paid out $250 million in claims…has $750 million in assets…has tightened its guidelines and standards…thus having less customers…..

The board made some call to neighboring condos…and were happy to report the response was positive for both the new insurance company and our new agent….

The vote was taken…and we are now with Smith Watson Parker Insurance with John Nordinger as our SRC agent….

for more info check with your board members…or managers…

On a lighter note…after hearing that the new policy would be on the desk at Citizens on Wed. and would be stamped assuring our contract…..this writer asked John if he also did cable TV…referring to the still MIA Comcast contract….for SRC….a laugh came from all….

more to come

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