Tag Archives: Office of Insurance Regulation

Closed Claim File Statistics Following Hurricanes

Facts are stubborn, but statistics are more pliable. —Mark Twain Closed claim file statistics reported by various departments of insurance following hurricanes seem absurd to those in the impacted areas and those working in the insurance claim business. The root of the problem is that most departments of insurance put pressure on insurance companies to … Continue Reading

Florida Department of Insurance Says Anybody Hired By a Licensed Public Adjuster Can Participate in Preparing an Insurance Claim By Writing the Insurance Estimates of Damage

The Florida Department of Financial Services (DFS) has issued an email authorizing Florida licensed public adjusters to hire anybody to make estimates of damage. This email corrects my latest two blogs which indicated that the OIR wanted to prevent those not licensed from working on insurance claims by determining valuations of loss and estimates of damage.… Continue Reading

Hurricane Irma Claims Data Update

The Florida Office of Insurance Regulation recently released updated data from Hurricane Irma.1 A quick review of the data paints an interesting picture. While we all know that Irma did substantial damage in Florida, the sheer size of the numbers is still daunting. Almost one million claims have been reported (997,237) totaling over $10,000,000,000.00 in … Continue Reading

Choosing a New Insurance Commissioner

The State of Florida is in the process of replacing the current Insurance Commissioner Kevin McCarty. As this blog has outlined in prior posts, McCarty has been a fair and effective commissioner under very difficult circumstances. His departure will be a loss for Florida’s insurance consumers.… Continue Reading

Financial Data from the Office of Insurance Regulation May Surprise You

Each year the Florida Office of Insurance Regulation (OIR) publishes an Annual Report for the prior year pursuant to Florida Statute Section 624.315. I was researching another issue when I thought this would be a good blog post. This report briefly describes OIR roles and responsibilities, summarizes major activities and accomplishments, and highlights the state … Continue Reading

How Timely Is Florida Claim Adjustment?

Many states have prompt claim payment statutes.1 In Florida, we have myriad statutes aimed at facilitating the prompt adjustment of claims.2 So, are insurers adjusting claims as promptly as they should be? Here are statistics obtained by the Florida Office of Insurance Regulation while conducting a market conduct examination of one of the largest homeowners … Continue Reading

Hum, Which Insurance Company Should I Pick?

Friends and family looking to buy insurance (property, disability, life, auto, whatever) often ask me what insurance companies I recommend. The lead-in to my answer is usually: “Well, based solely on my professional and personal experience, I’d stay away from ____________.”… Continue Reading

Insurance Company Complaint Rankings for 2010 Have Been Released

People’s Trust Ranks Number 1 for complaints…again. In Florida, the Office of Insurance Regulation is required by Florida Statute §624.313 to publish statistics and ratios on the complaints consumers submit against insurance companies. The OIR’s primary responsibility is regulation, compliance, and enforcement of statutes relating to the business of insurance and the monitoring of industry … Continue Reading

Top 50 Florida Homeowner Insurers’ Consumer Complaint Stats from 2009

The Florida Office of Insurance Regulation “OIR” is required by Florida Statute §624.313 to publish statistics and ratios on the complaints consumers submit against insurance companies. Its primary responsibility is regulation, compliance and enforcement of statutes relating to the business of insurance and the monitoring of industry markets. Florida Statute requires the OIR to annually publish … Continue Reading

Florida’s Insurance Problem is Inadequate Surplus Growth During Good Years

The Florida legislature and Office of Insurance Regulation should learn from insurance history, recent warnings, and common sense when it comes to building a stable Florida insurance marketplace. Former Florida Insurance Consumer Advocate, and now lawyer in the Merlin Law Group, Sean Shaw highlighted a fundamental flaw in Florida’s insurance marketplace in a recent St. … Continue Reading

Sinkhole Data Report Released By the Florida Office of Insurance Regulation — Public Insurance Adjusters Are Not Included In the Report

Sinkhole claim information was collected from 215 insurance companies and the results were reported on November 8, 2010. Chip Merlin posted about the report and the absence of fraudulent sinkhole claims in his post, Florida 2010 Sinkhole Report Findings Published — Where’s the Fraud? A few other interesting points in the report also stand out … Continue Reading

Florida 2010 Sinkhole Report Findings Published—Where’s the Fraud?

Sinkholes are a problem in Florida. The Florida Office of Insurance Regulation conducted a data call study from insurers regarding the insurance issues created by this peril. One significant finding was the extremely low reported cases of fraud. Here is what the report said on that issue: From 2006 through 2010, only 203 claims were … Continue Reading

What Will Sinkhole and Mold Claims Have in Common?

Should Florida create a fourth state-run Insurance entity to cover sinkhole losses? This question was recently reported on by Julie Patel of the Sun-Sentinel. The question was raised during an Office of Insurance Regulation symposium held in Orlando. The attendees were primarily those in the insurance industry—insurance consumers are usually at work during the day.… Continue Reading

Insurance Company Declares War on Public Adjusters

Could you imagine the outcry if the government forced you to waive legal rights to obtain needed services? Sawgrass Mutual is essentially doing that with its own customers—and the Office of Insurance Regulation and the new Consumer Advocate are doing nothing about it.… Continue Reading

Sinkholes Remain in the News While Eyes are on Hurricane Earl

Since 2004, the majority of our law firm’s large insurance battles have focused on hurricane loss insurance disputes. It is not surprising that we are getting phone calls from people asking whether our firm will open offices somewhere between North Carolina and Boston as Hurricane Earl is projected to hit that area. I was surprised by a … Continue Reading

Sinkhole Investigation Started By Office of Insurance Regulation

The Insurance Commissioner has apparently decided to start calling some of my clients. According to the St. Petersburg Times, his office is trying to find statistical information regarding sinkholes reported between 2006 and 2009. We’ll call and try to find out more information so we can help them get accurate answers, but, in "Florida Regulators … Continue Reading

FIGA is the New Slow Paying and Litigation Threatening “Insurer” in the Florida Property Insurance Claims Game

A number of policyholder attorneys have asked me why FIGA is being so difficult lately. At one time, it was not that way. There has obviously been a change of the guard because nobody should expect quick resolution of any claim from FIGA based on recent complaints and the developing case law helps demonstrate this … Continue Reading

Are Florida Insurance Companies Really Losing Money? Are Investors Using Management Companies To Take Profits and Leave Little Surplus for Policyholder Claims?

An Order by the Office of Insurance Regulation shows one method some Florida insurers may use to “poor mouth” losses to the public and our legislators in Tallahassee while taking millions home through shell accounting techniques. Many of the smaller insurers operate as three corporations–the insurer, a managing general agent, and a holding company. It … Continue Reading

Sean Shaw is a Refreshing and Intelligent Advocate for Floridians–We Deserve This Type of Representation

Why do so many of our politicians play to the lobbyists and support laws that harm the average person and voter? This is exactly what has happened with important laws sponsored by the insurance industry lobbyists and then proposed by Florida Senator Mike Bennett of Bradenton and Representative Bill Proctor of St. Augustine. These politicians … Continue Reading