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Citizens Property Insurance Corp. - page 3

Citizens Insurance, regulators warn of fraud post-Hurricane Matthew

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Citizens Property Insurance Corp. was quick to warn policyholders against signing away their rights in exchange for quick repairs following Hurricane Matthew. Florida’s insurer of last resort issued a press release Sunday urging policyholders to call the company before entering into assignment of benefits contracts with contractors or other third parties. “Here’s why,” Citizens said. “You may be signing away your rights and be left with unfinished repairs or forced to pay a contractor for repairs not covered by your policy.…

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Assessing Hermine: Citizens Insurance pays $90,000 in storm claims

in The Bay and the 'Burg by

Florida’s insurer of last resort has paid more than $90,000 in Hurricane Hermine claims. That was the tally as of Friday afternoon, with 618 claims still being processed. “Most of the claims have been filed for the Tampa Bay area — relatively far from where the storm landed,” said Michael Peltier, spokesman for Citizens Property Insurance Corp. Hermine made landfall early the morning of Sept. 2 in the Panhandle. But Tampa Bay absorbed heavy rainfall, generating insurance claims. Pinellas County…

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Consumer Protection Coalition calls for reforming Assignment of Benefits abuse in 2017 Session

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As the Sunshine State enters peak hurricane season, a consumer advocacy group is calling on state lawmakers to “get serious’’ about insurance fraud related to Assignment of Benefits, an increasingly widespread abuse that could raise costs for all Floridians. That’s the position of the Consumer Protection Coalition, which claims AOB abuse has led to skyrocketing non-weather-related water claims, as well as frivolous lawsuits that hamper both affordability and accessibility of insurance. An Aug. 30 editorial in the Palm Beach Post echoes…

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Ben Diamond and Eric Lynn confront each during WMNF radio debate

in The Bay and the 'Burg/Top Headlines by

During a radio debate Thursday, House District 68 Democrat Ben Diamond challenged what exactly his opponent, Eric Lynn has done in the community, while Lynn turned around to question Diamond’s independence when it comes to the insurance industry. Those two exchanges came toward the conclusion of a 38-minute debate on Tampa radio station WMNF 88.5 this afternoon, when the two candidates were allowed to question each other in a debate moderated by this reporter (listen here). The two St. Petersburg-based Democrats are challenging each…

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Dodgy contractors share blame for high rates, last-chance insurer says

in Statewide by

By Michael Moline, Tallahassee correspondent Don’t blame us for rising premiums, administrators of Florida’s high-risk property insurance pool told state regulators Thursday—blame lawyers and unscrupulous building contractors. And a bunch of burst pipes and overflowing washing machines in South Florida. John Rollins, chief risk officer for Citizens Property Insurance Corp., pointed to an increased use since 2013 of assignment-of-benefits arrangements, whereby contractors persuade policyholders to let them assume their claims in exchange for fast repairs. He said that 55 percent…

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Citizens Insurance to spend $1.8M for investigating water damage claims

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The Citizens Property Insurance Corp. board of governors Tuesday approved a $1.8 million contract with a company that will examine escalating water damage claims from policyholders and determine whether the charges are excessive. “The goal is to identify inflated or excessive charges on invoices from contractors that have performed water damage restorations for Citizens’ policyholders and to contest or adjust invoices so it comports with industry standards,” said Jay Adams, Citizens’ chief of claims. Without debate, the board unanimously approved…

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Sine die and deadline to apply for Insurance Commissioner job both Friday

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March 11 is not only the final day of the 2016 Legislative Session, but it’s also the last day to apply for state Insurance Commissioner. As of Friday morning, 47 people had applied for the position, but none were “marquee” names. For instance, former state Rep. Tom Grady previously told FloridaPolitics.com he wasn’t interested in the job. He and others were rumored to be on Gov. Rick Scott‘s short list.  The Naples Republican is a friend of Scott and a former Commissioner of…

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