The state's property insurer of last resort, Citizens Insurance, warns customers of possible surcharge and assessment liability. According to the Tampa Bay Business Journal, "the state’s largest property insurer is making it clear that policyholders face possible surcharges and assessments for losses because it is not 'supported by the full faith and credit of the [...]
As reported by the Sunshine State News, "A proposal to allow surplus lines insurers to take policies out of Citizens Property Insurance Corp. passed its first committee Tuesday, but not before lengthy and pointed exchanges between supporters and vocal industry critic Sen. Mike Fasano, R-New Port Richey." Read the entire story here
The following news release was issued by the Office of Florida Chief Financial Officer Jeff Atwater December 5, 2011, regarding the appointment of Daniel S. Anderson as director of the Florida Division of Insurance Fraud. The news release is reprinted below. Chief Financial Officer Jeff Atwater Appoints Law Enforcement Veteran to Lead the Division of Insurance Fraud TALLAHASSEE–Chief Financial Officer Jeff Atwater today announced the appointment of law enforcement veteran and crime fighter Daniel S. Anderson as the new Director of the Division of Insurance Fraud (DIF). Anderson, a 25-year veteran of the Drug Enforcement Administration with extensive experience in global criminal investigations and law enforcement coalition building, will be on the job next month. […]
As printed in the following Florida Times Union editorial, "Florida continues to gamble on a foolish wager that it doesn’t need to pay for insurance sufficient to cover damages from even one big hurricane, let alone several." Read the entire story here
The Florida Chamber of Commerce ("Chamber") launched an educational campaign to increase awareness about personal injury protection ("PIP") fraud in the State and to garner support for legislative reform in Florida. The Chamber plans to publish "FRAUD FACT FRIDAY" reports each week. The first edition consists of a September 30 editorial written by Chamber Executive [...]
Former Louisiana Citizens Property Insurance Corporation Chief Executive Officer J. John Wortman and former Florida Citizens Property Insurance Corporation ("Citizens") Director of Corporate Analytics John W. Rollins were appointed by Florida Governor Rick Scott to Citizens' Board of Governors September 20, 2011.
Florida Senators Garrett Richter and Chris Smith will remain as Chair and Vice Chair of the Senate Committee on Banking and Insurance, the Office of Florida Senate President Mike Haridopolos advised as part his overall announcement of 2011-2012 Florida Senate Committee and Subcommittee members.
As reported by the Associated Press, "Florida's largest insurer of homes and businesses has agreed to lower a proposed rate hike for sinkhole coverage that would take effect next year." Read the entire story here
Under fire for a proposed sinkhole rate hike that would raise some policyholders’ premium costs by thousands of dollars, Citizens Property Insurance Corporation (“Citizens”) Board of Governors (“Board”) met today, September 12, 2011, during which it unanimously approved a measure that would allow the rate increases to be phased-in over several years. “CFO Atwater asked that the Board quickly convene to ensure that the pending sinkhole filing properly considered the effects of SB 408 and to discuss a phased in implementation of sinkhole rates. I thank my fellow Board members, who acted promptly on the CFO’s request, and came together on short notice to address this important issue,” said Carlos Lacasa, Citizens’ newly appointed chairman. […]
The Florida Supreme Court heard oral arguments today, September 9, 2011, in the case of Atwater v. Kortum, which challenges the constitutionality of a 2008 Florida law regarding how and when public insurance adjusters may contact property owners following a disaster.