Questions about the state's takeover of Tampa-based Poe Financial Group and how to find new property insurance in the wake of the major South Florida insurer's collapse continue to weigh heavily on the minds of many South Florida Sun-Sentinel readers.

More than 75 people participated in an hourlong online insurance chat on Thursday. With three of Poe's insurance companies now under state control and possibly liquidated by July 1, many readers wanted to know what they should do now to make sure their homes are covered before hurricane season starts June 1.

Tami Torres and David Fisher from the Florida Department of Financial Services, Justin Glover from state-backed Citizens Property Insurance Corp. and Steve Breitbart from Cypress Insurance Group in Fort Lauderdale offered their expertise to help answer the questions.

Here's a sampling of the questions from Thursday's online chat.

Q: My insurance with Atlantic Preferred Insurance Co. (a Poe company) renews on June 14, so I will not be canceled until June 2007. Should I send in my renewal check or look now for another homeowner insurance company?

A: The state is telling people to send their renewal checks, but still shop around for a new insurance company. That way, if you can't find another company, Citizens will still cover your home, under the same terms and conditions of your existing Poe policy. Once it comes time for renewal next June, you'll be offered a Citizens policy if no private company will take you.

Q: State Farm is dropping our blanket policy on our community of 149 homes. Are there other insurance companies besides Citizens that will cover us?

A: More companies are getting out of the condo/homeowner association business than getting into it. State Farm is just the latest to drop condo and homeowner association policies. Southern Family Insurance Co., another Poe firm, was a major insurer of condo and homeowner associations, and they're now under state control. A number of agents told me that Citizens may be the only option right now.

Q: I was originally insured by Citizens, which was the only insurance available when I purchased my house. Subsequently, Citizens sold my policy to Poe, which is now financially insolvent. What is going on here?

A: It sounds like your policy was taken out of Citizens as part of the company's "take-out" program, in which private insurers are paid bonuses by Citizens to take over a block of policies. The companies don't receive the money unless they keep the policies for at least three years. Poe was a major participant in that program.

For a full transcript of Thursday's insurance chat, check out www.sun-sentinel.com/insurancechat.

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By Kathy Bushouse
South Florida Sun-Sentinel

Copyright 2006, Sun-Sentinel Co. & South Florida Interactive Inc.