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Sep 23

FAIR Honors Locke Burt’s Leadership in Developing Solutions that Improve Florida’s Home Insurance Market

Consumer Advocacy Group Presents Security First Insurance Chairman and President with Lifetime Achievement Award 

Tampa, Fla. (September 17, 2014) – The looming and ever-present potential for catastrophic weather. A challenging regulatory environment. Premium affordability. These challenges, in addition to a diverse and vocal group of constituencies, have caused Florida to become one of the most volatile property insurance markets in the world, especially after Hurricane Andrew wreaked havoc on the state in 1992. Since that time, W. Lockwood “Locke” Burt has worked tirelessly – and mostly behind-the-scenes – to help shape policy that provides for a stable and competitive home insurance market in Florida. Consumer advocacy group Florida Association for Insurance Reform (FAIR) recently paid tribute to Burt’s efforts by honoring him with the organization’s Lifetime Achievement Award during the organization’s Second Annual Awards Dinner and Gala held in Tampa, FL.

 

A Lifetime Commitment to Improving Florida’s Home Insurance Marketplace

In addition to developing legislation to improve the safety of Florida families and children, during Locke Burt’s 12-year tenure with the Florida Senate, he is credited with helping Florida navigate its way out of a home insurance market that was left in shambles after Hurricane Andrew. Respected for his ethics, candor and ability to work with fellow legislators on both sides of the aisle to improve life for Floridians, he counseled state leaders and helped create a viable and healthy private homeowners insurance market where Floridians were provided more options and sound insurance protection.

 

Raised in insurance and with a nearly 100-year family history in the industry, he began Security First Insurance Company shortly after leaving the Senate. As chairman and president of Florida-based home insurance carrier Security First Insurance, Burt continues to recognize that effective legislation is critical to stabilizing Florida’s homeowners insurance market. He remains very active in providing feedback, guidance, and proposals to help shape legislation that benefits all Florida insurance consumers.

 

His efforts to improve Florida insurance laws have contributed to creating an environment where insurance premiums can prudently be reduced. Burt’s company, Security First Insurance, was among the first to pass these reductions on to Florida consumers by lowering homeowners insurance rates. In 2013, Security First Insurance reduced its homeowners insurance rates by an average of 9.3 percent statewide. This was followed in 2014 by a further reduction of 4.7 percent.

“I’m delighted to receive this award from FAIR,” said Burt. “I’ve been impressed by FAIR’s ability to bring together a diverse group of individuals representing public adjusters, trial lawyers, insurance companies and consumers to develop and advocate for the passage of common-sense legislation to improve the homeowners insurance marketplace in Florida. I look forward to working with them in the future to continue this good work.”

 

“Locke’s contributions to the property insurance public policy debate are unmatched.  He has both the credibility and integrity to promote policy that is best for Floridians overall, not just for the industry,” said Jay Neal, President and CEO of FAIR.  “Even though this is a lifetime achievement award, we look forward to many more years of his active participation in improving the market and providing the best service and options to Florida insurance consumers.”

 

Locke and Ann Burt with FAIR Lifetime Achievement Award

 

 

About Florida Association for Insurance Reform (FAIR)

FAIR is a non-partisan, non-profit educational organization that works to educate Florida consumers and insurance industry stake-holders about the effects of insurance public policy. Unlike other organizations that represent specific constituencies, FAIR works with all constituencies to facilitate ongoing dialogue and transparent communications. FAIR believes that there is a solution to every insurance problem that both promotes a robust insurance market and also protects consumers and policyholders.

www.floridainsurancereform.org

 

About Security First Insurance

As a Florida homeowners insurance company, Security First Insurance provides homeowners, renters, condo unit owners, and dwelling fire insurance to nearly 190,000 customers located throughout Florida. The company is nationally recognized for developing award-winning innovative technology designed to improve the customer experience and streamline catastrophe response. Security First Insurance has been assigned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. and is strongly committed to improving Florida’s homeowners insurance market and supporting initiatives that protect residents and communities of the Sunshine State.  www.securityfirstflorida.com