State Insurance Consumer Advocate (ICA), Robin Westcott, has announced she will leave the public sector behind (See NOTE#1 below) but, upon her departure she also leaves behind a set of recommendations from the Homeowners’ Policy & Claims Bill of Rights Working Group, some of which could materially lower premiums for all Floridians…if implemented! [Read more…] about ICA’s Final Report…more than meets the eye!
General Property Issues
Citizens Clearinghouse…and State Farm Agents
With the caveat that it’s far too early to speculate on its’ market impact, I will say that I’ve had more than one conversation with an independent agent convinced that Citizens Clearinghouse is nothing more than a competitive reprieve for State Farm agents.
I believe it to be just the opposite. [Read more…] about Citizens Clearinghouse…and State Farm Agents
Emergency Remediation Fraud & The ICA Working Group
Insurance Consumer Advocate (ICA) Robin Westcott’s working group, the Homeowners’ Policy & Claims Bill of Rights Workshop has identified some pervasive problems in the emergency remediation business that, if resolved, could demonstrably reduce loss costs in the near term.
Identifying problems, of course, is light years from solving them but, it’s where any good fight begins. [Read more…] about Emergency Remediation Fraud & The ICA Working Group
ICA’s Workshop…Referral Fee’s & Kickbacks!
Robin Westcott’s working group, the Homeowners’ Policy & Claims Bill of Rights Workshop, concluded its deliberations Thursday, July 18th. It was, in my opinion, a thorough and professionally conducted exercise that will yield many helpful recommendations. Hopefully those recommendations will lead to better consumer education first, improved regulatory oversight second, and only if/when absolutely necessary…better laws. You can watch the entire workshop: Day 1; here and Day 2 here.
One topic in need of far greater scrutiny but not included on the agenda is that of exorbitant referral fees paid by water extraction companies to plumbers. I know this sounds picayune, but…it’s not! [Read more…] about ICA’s Workshop…Referral Fee’s & Kickbacks!
Florida’s Fraud Problem & the ICA’s Working Group
I’m hopeful that Insurance Consumer Advocate (ICA) Robin Westcott’s working group called, the Homeowners’ Policy & Claims Bill of Rights Working Group, will provide much needed information that will lower costs for Florida’s premium payers. I’m hopeful but, not yet convinced.
[Read more…] about Florida’s Fraud Problem & the ICA’s Working Group
UPCIC…Fines & Penalties!
No need belaboring details of what Universal Property & Casualty Insurance Company (UPCIC) has been doing–waiting until after a loss to underwrite, cancelling policies back to inception for alleged “material misrepresentation” for reasons unrelated to the claim or any attempt at fraud by the claimant. [Read more…] about UPCIC…Fines & Penalties!
Assessments–Citizens vs. FIGA
Recently, after reading yet another editorial implying that FIGA (Florida Insurance Guaranty Association) assessments are similar to deficit assessments levied by Citizens, I found myself in a conversation with an industry associate who seemed to accept this dislogic and the resulting conclusions spread by the likes of the Sarasota Herald Tribune, the Palm Beach Post and perhaps a few other media outlets and consumer groups. [Read more…] about Assessments–Citizens vs. FIGA
UNIVERSAL’S Post Claims Underwriting…Revisited!
Last Friday the Florida Senate amended CS/CS/HB-635 and will send it back to the House for final approval. Of course, it may not pass the House (as amended) and thus may never become law, but…the practice one of the Senate amendments is designed to stop should be voluntarily abandoned by the one carrier whose actions gave rise to it in the first place. [Read more…] about UNIVERSAL’S Post Claims Underwriting…Revisited!
ANOTHER RIP-OFF…Assignment of Benefits!
Industry alarms are sounding as more and more contractors and loss remediation entities, emergency water extraction companies and the like, exploit “assignment of benefits” to take control of homeowner’s claims–usurping rights to negotiate and adjust the loss, then threatening to sue the insurer to force payment of inflated bills.
Consistent with Florida’s curse, this scam not only has links to lawyers and public adjusters, it’s a major cost driver and frighteningly fertile ground for even more fraud! [Read more…] about ANOTHER RIP-OFF…Assignment of Benefits!
A CLAIMS FORUM…via the ICA’s office!
Beginning Thursday, March 21st, 2013, Florida’s Consumer Advocate, Robin Westcott and the DFS Director of Consumer Services, Tasha Carter, will conduct the first in a series of eight local forums to hear directly from consumers on how their Florida property claims are being handled. [Read more…] about A CLAIMS FORUM…via the ICA’s office!