Saying she is concerned about Florida’s servicemen and women falling victim to deceptive and improper insurance sales practices, Chief Financial Officer Alex Sink spoke before the Senate Banking and Insurance Committee Monday in favor of an amendment on Senate Bill 2702 that will increase protections for Florida’s military.
The amendment, sponsored by State Sen. Ted Deutch, D-Delray Beach, directs the Department of Financial Services and the Financial Services Commission to adopt formal rules to protect Florida’s members of the U.S. Armed Forces.
“It is unthinkable that some unscrupulous insurance agents would sell bad investments, unnecessary life insurance policies, and misrepresent themselves and their products to members of our military,” Sink said. “Our soldiers are making the ultimate sacrifice to protect our freedoms, and they deserve protection from predatory or deceptive insurance sales practices.”
Florida’s servicemen and women deserve to be offered first-rate financial products by trusted and responsible advisors so that they can provide for their families and save for retirement, Sink added.
“I look forward to continuing to work with the Legislature to ensure that we safeguard the financial futures of the members of Florida’s Armed Forces.”
Source: Florida Department of Financial Services
Topics Florida
Was this article valuable?
Here are more articles you may enjoy.
Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO 
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair 
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey 
Big ‘I’ Report: Independent Agency Channel Placed 62% of Premiums in 2023 
