GCM Insurance & Risk Management Advisors, LLC

NOAA Updates Atlantic Hurricane Season Forecast While overall storm count may not seem wildly different from the late-May predictions, one notable change is the confidence forecasters have in their outlook. The post NOAA Updates Atlantic Hurricane Season Forecast first appeared on The Inertia.

Happy Birthday to our very own CEO Tanya Marie Hasse! Tanya has been instrumental in our growth and presence in Florida and has guided our company to dizzying heights as we are now one of the Top 25 Fastest growing Agencies in the Country!

Please join us in wishing Happy Birthday to Tanya!

Good Evening. We have been watching the latest developments of a possible Tropical System that may affect the West Coast of Florida, the panhandle of Florida and the Gulf Coast. As Risk Managers, it is our job to protect our clients and inform the general public. At this time, the 3 main models we use are the EURO, GFS and CMC.

Right now, all 3 models are in disagreement as to whether this system will even develop.

The Bermuda High is currently very powerful and pushing systems South and away from Florida. In addition, the Saharan Dust is stopping storms from developing.

Currently, the steering currents are forcing this wave over the mountains of Cuba. For the record, no hurricane has ever developed over Cuba, due to the mountains and it's affect on the CONUS (Eyewall) of a system.

Due to the Bermuda High forcing this system south over Cuba, the Saharan Dust and a High Pressure Ridge over the Midwest, we just do not see anything materializing.

That said, we kindly request that you keep an eye on this system and prepare accordingly.

At this time, we believe that this is going to be a rain event for the Gulf Coast.

On a more personal note, we find the media over-hyping this disgusting. Why? Because scaring the public is absolutely wrong. The same goes with . The minute they state that a tropical system is a Named Storm, it triggers the % deductible of your property policy, which is exactly what your insurance company wants. A high deductible = less risk for your insurance company.

We will continuously keep you updated.

Please message us if you have any questions and we will promptly reply.

Happiest of Birthdays to our CTO, Rob Snyder! Business is easier with you on our side. Enjoy your day!

https://www.msn.com/en-us/money/insurance/florida-insurance-warning-as-1-in-5-residents-uninsured/ar-BB1q8QJi?ocid=entnewsntp&pc=DCTS&cvid=b0ae3731a0944eefa7f97dc3a012a403&ei=70

Florida Insurance Warning as 1 in 5 Residents Uninsured A major hurricane this season could leave Florida's uninsured homeowners financially ruined, experts told Newsweek.

Welcome to the GCM family, Danielle! We are proud to have you!

BIG things happening at GCM!

In observance of Independence Day our office will be closed Thursday July 4th and Friday July 5th.

15 years ago we opened our doors in Ybor. Many people asked why would you open a business in Ybor City?

The reason? Simple. We love Insurance / Risk Management. But more importantly? We love Ybor City and helping out the community.

Fastest-growing Insurance Companies in the USA | Fast Brokerages Celebrating the firms devising innovative and entrepreneurial processes to grow and prosper despite challenging market conditions

Today we recognize and celebrate freedom

Happy Fathers Day from all of us at GCM Insurance & Risk Management!

Coming up on our 15 Year Anniversary. Thank you! Looking forward to the next 15!

Storm Season is officially upon us....

2024 Atlantic & Gulf Storm Names:
Alberto, Beryl, Chris, Debby, Ernesto, Francine, Gordon, Helene, Isaac, Joyce, Kirk, Leslie, Milton, Nadine, Oscar, Patty, Rafael, Sara, Tara, Valerie, William

What is a binding moratorium?

Binding Moratoriums apply to new business, increase in coverage and renewal businesses with a lapse in coverage in the event of a potentially catastrophic or named storm is threatening to make landfall in the United States.

Each carrier has different guidelines as to when their binding moratorium goes into place, some may be sooner than others. It at the carrier discretion when the restrictions will be lifted.

Moratoriums apply to all classes of property such as commercial property, package, inland marine, automobile physical damage, flood, excess flood, homeowners, dwelling fire, condo unit owner etc.

Memorial Day 2024

On this Memorial Day, let us pause to honor the courageous men and women who made the ultimate sacrifice for our country. Their selfless acts of valor and dedication will forever be etched in our hearts and memories. We owe a debt of gratitude to these heroes who gave their lives to protect our freedoms and way of life. May we never forget their sacrifices and always strive to uphold the principles they fought for. Today, and every day, we honor and remember our fallen soldiers with reverence and respect.

GCM Insurance & Risk Management Advisors, LLC Commerical Insurance Agency proudly serving FL, one unique risk at a time!

Reminder: GCM Closure Monday May 27, 2024

In honor of Memorial Day, GCM will be closed.
Our offices will close at 3PM local time on Friday, May 24, 2024, and we will resume normal business hours on Tuesday, May 28.

We urge you to spend time with your loved ones and commemorate the day in honor of those who have sacrificed so much for our freedom and country.

2024 Hurricane Season is right around the corner! Are you prepared?

Memorial Day closure notice: In observance of the Memorial Day holiday, our offices will close at 3PM local time on Friday, May 24, 2024, and we will resume normal business hours on Tuesday, May 28.

We are thrilled to announce that GCM Insurance has been recognized as one of the top 25 fastest growing insurance agencies in the USA! This incredible achievement is a testament to our dedicated team and the trust our clients place in us every day. We are grateful for the unwavering support from our customers and partners, which has fueled our growth and success. Thank you for being a part of our journey and helping us reach this significant milestone.

We also owe a huge thank you to Tanya Marie Hasse, our CEO! All of her hard work and dedication is paying off, we couldn't be any prouder.

Here's to continuing our commitment to excellence and serving you even better in the future!

Fastest-growing Insurance Companies in the USA | Fast Brokerages Celebrating the firms devising innovative and entrepreneurial processes to grow and prosper despite challenging market conditions

CHECK YOUR INSURANCE POLICY!

Do you have wind/hurricane insurance?

Avoid delaying until it's too late. Obtaining insurance once hurricane season begins can prove difficult. When there's a Named Storm warning, most carriers cease wind insurance operations entirely, refusing to provide or even discuss wind insurance until the storm has passed.

https://www.iii.org/article/hurricane-season-insurance-guide

Happy Bike to Work Day!

Happy World Baking Day!

Happy International Family Day!

For more tips and information on Hurricane Preparations, please call GCM at 813-241-6301.

GCM Insurance & Risk Management Advisors, LLC is rapidly expanding and proud to welcome Renee DiNicola as our newest Account Manager and Dwight Zivo as our newest Producer.

Both Renee and Dwight bring their expertise and knowledge with them to GCM and we are excited to have them on board as we continue to grow and expand into the Florida Commercial and Property Insurance market.

Welcome Renee and Dwight!

Happy Mother's Day to all the wonderful mothers out there!

Fannie & Freddie Mac RCV vs ACV Update:

"This morning, Fannie and Freddie both published announcements stating that they would not be enforcing the updated guidelines for sellers and servicers of Fannie- and Freddie-backed mortgages. The announcements state:

""Following these Bulletins, we have heard concerns from industry partners regarding their ability to comply with our long-standing policy to obtain the RCV. In light of the unique nature of these concerns, in consultation with FHFA and in coordination with Fannie Mae, effective immediately and until further notice, we will not cite findings during our Counterparty Operational Risk Evaluation (CORE) reviews for noncompliance related to a Servicer obtaining RCVs during their review of hazard insurance for the purposes of determining coverage amount sufficiency. This includes any failure to obtain lender-placed insurance for a hazard coverage shortage due to failure to utilize RCV. We will continue our existing practice of conducting targeted procedural and loan-level reviews consistent with our hazard insurance requirements and may provide observations consistent with those reviews. During this period, we will work with our industry partners to determine how Sellers and Servicers can better comply with our requirements.""

Although the announcements state that Fannie and Freddie will not enforce the updated portions of the guidelines, the announcement stopped short of saying that the updated guidelines will be amended.

The federal advocacy team at the Big “I” was instrumental in working with the FHFA, Fannie, Freddie, and other industry stakeholders to delay the implementation of the guidelines which were set to take effect on June 1, 2024."

https://mycommunity.faia.com/blogs/bg-murphy1/2024/05/08/fannie-and-freddie-to-delay-enforcement-of-updated

Hurricane Season
June 1st, 2024 - November 30th, 2024

Unfortunately, it is projected to be an active hurricane season.

Stay tuned for tips on hurricane season preparations!

The 2nd Most Common Water Damage claims are NON-WEATHER RELATED.

Yes, you read that correctly. However, most often it can be prevented or at least, mitigated.

Did you know that your home can become "uninsurable" due to multiple water damage claims? Your home is 7 time more likely to suffer a water leak, than a fire.

Here are some tips and guidance to avoid/limit, non-weather-related peril, pipe leaks.

1. Water Pressure Regulator - designed to control water pressure inside the system.
2. Pressure Reducing Valve - Installed on a water heater relieve sudden increase in water pressure coming into the house.
3. Leak Detection System - Recognize sudden or unusual increase in water pressure or usage in the home and can automatically shut off the water flow.

Water Damage Claims for Homeowners, More Than an Inconvenience Non-weather-related water damage is the second most common cause of homeowners' insurance losses, but it's also one of the most overlooked and misunderstood risks. Unlike wildfires and hurricanes, the risk of non-weather-related water damage to the home can be easily prevented or, at least, mitigate...

Fannie & Freddie Expressly Prohibit ACV in Updated Lending Guidelines

ACV: Actual Cash Value
RCV: Replacement Cost Value

"Fannie and Freddie lending guidelines have long required, at minimum, that property insurance policies must provide losses be settled on the basis of replacement cost. However, many states have allowed ACV, whether mandated or optional. As the market has evolved nationally, and more insurers have incorporated ACV, Fannie/Freddie lending guidelines have been amended (to take effect 6/1/24) to prohibit ACV. The new guidelines state:

“Insurance policies must provide for claims to be settled on a replacement cost basis. Policies that (1) provide for claims to be settled on an actual cash basis, or (2) limit, depreciate, reduce or otherwise settle losses for less than a replacement cost basis are not eligible.”

Along with requiring claims to be settled on a replacement cost basis, the updated guidelines clearly prohibit policies from incorporating ACV. "

FAIA Community Hub - Login To reset, click “Forgot your password” link below and enter your email address in the following screen. If you do not receive a password reset email, please check your junk/spam folder. If you have already reset your password, please use your email as your username and not your FAIA ID. Welcome ...

World Laughter Day!

What made you laugh today?