قالب وردپرس درنا توس
Home / Insurance / Is the Florida Insurance Commissioner an obstacle for the insurance industry? | Legal insurance blog for property insurance

Is the Florida Insurance Commissioner an obstacle for the insurance industry? | Legal insurance blog for property insurance



An article from the Orlando Sentinel, Florida Lawmakers Is Misled About Insurance Lawsuits, Expert Contends 1 makes one wonder if Florida's insurance commissioner has sold out Floridians to benefit Florida's real estate insurance industry. One of the country's most famous insurance experts, Birny Birnbaum, was quoted in the article on a letter Florida Insurance Commissioner wrote:

A government agency provided the legislature with misleading information about Florida property insurance matters, according to an insurance expert. restrict consumers' access to justice when applying for insurance claims.

But Birny Birnbaum, executive director of the Center for Economic Justice, said that Altmaier's letter did not paint a complete picture of the situation. In a report sent to the committee on April 1

6, Birnbaum claims that "any problems with household insurance may be linked to a small number of insurance companies and is not an industry-wide problem that requires major changes in the civil justice system."

Birnbaum served as chief economist for the Texas Department of Insurance. Birnbaum submitted his report on behalf of the Florida Consumer Action Network.

In a telephone conversation, Birnbaum explained his objections to Altmaier's letter. "He did not present all the information available, and … he did not present the legislators with the whole picture to say that this is what happens," he said.

Specifically, Birnbaum takes the issue of presentation as something that is happening across the insurance industry in Florida. He points to data from the same set that Altmaier used and shows that at least 22 insurance companies in the state have no disputes and less than a third of the insurance companies with more than 30% of the damages become lawsuits.

Why not Florida Insurance Commissioner Altmaier studies claims by some Florida insurance companies that "reset" legitimate claims, recently noted in, Reset Hurricane Claims and Fraud – Why our Florida politicians ignore these ongoing allegation problems and seem to protect cheating ? Insurance company?

Why does the Florida Insurance Commissioner not study the relationship between Managing General Agents and other shareholders related to Florida insurance companies that skim profits from insurance companies and make them look like they are making less money than they really are? It should be noted that the current version of HB 305, written by Representative Bob Rommel, specifically requires the Florida Insurance Commissioner to do this type of activity, while Florida Senate Bill 76 has no such requirement. Both of these bills contain amendments to laws that would harm policyholders, but the Florida Senate is much worse and is a wholesale sale to the insurance industry.

Why does not Florida Insurance Commissioner Altmaier write letters to everyone about how wonderful it would be if the language of HB 305 was approved so that his office could begin to review the affiliated companies? Some suggest that it is because the answer to this post is "yes."
___________________________________
1 Trevor Fraser. Florida lawmakers misled about insurance lawsuits, expert claims . Orlando Sentinel. April 20, 2021. Available at: https://www.orlandosentinel.com/business/os-bz-expert-disputes-florida-insurance-lawsuit-report-20210420-45ffkaqys5eiddjz7j5rza2z3u-story.html (last visited, April 21, 2021 ).


Source link