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The Florida-based insurers who dominate the market receive an outsize percentage of the nation’s complaints, and one company has ... against all insurance companies, including auto insurance ...
In a lawsuit against one company, a claims adjuster testified that the company’s practices included “ignoring damages” and “removing estimates that the field adjuster wrote.”
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel John Askins. During Fiscal year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The ...
Ten Florida insurance companies said recently they would not increase rates, and at least 15 others filed for a decrease in rates.
Guarantee Security Life Insurance Company, or GSLIC, represented one of the most severe cases of insurance fraud in Florida history. According to the Florida Insurance Commissioner: [GSLIC] was, almost from the beginning, a massive fraud, aided and abetted by blue-ribbon brokers and licensed professionals motivated by their own self-interest.
New insurance companies in Florida must be approved by the Office of Insurance Regulation (OIR), which reviews the firm's business plan, projections and financial condition. The judgment of the OIR has been questioned because six of the 18 companies licensed to write "takeout" policies between 2007 and 2011 failed, even though Florida had no ...
About 15 years ago a group from St. Pete proposed a way to fix Florida’s property insurance problem. They shopped it in Tallahassee, but no one was buying.
Florida Department of Financial Services (FLDFS) is a state agency of Florida.Its headquarters are in Tallahassee. [1] In 2002 the Florida Legislature merged the Department of Insurance, Treasury and State Fire Marshal and the Department of Banking and Finance into one department, the Florida Department of Financial Services.