Florida CFO Recovers $4.4 Million for Insurance Consumers

Florida insurance consumers have recovered more than than $4.4 million since January from insurance companies with the help of the state.

Citing an example, CFO Alex Sink said that a Naples homeowner contacted the Department of Financial Services when he was forced to vacate his home due to broken pipes and water damage. After contacting his insurance company numerous times and several visits from adjusters, his claim dragged on for over a month with no end in sight. An insurance consumer specialist in DFS contacted the company on his behalf and the claim was soon paid totaling over $80,000.

According to the DFS, another recovery involved a husband and wife in Jupiter who were misled into purchasing a $180,000 annuity by an unscrupulous insurance agent. After receiving the complaint through the DFS Consumer Helpline, a consumer specialists discovered that the agent sold the couple the annuity inappropriately. The company soon terminated the contract and returned all the money.

In 2009, the DFS said it helped recovered $22 million, up from $14 million in 2008. In addition to the Consumer Helpline, CFO Sink also offers insurance consumer assistance online through Consumer Help Online, where consumers can file a request for assistance and check the status of their request at any time.

Topics Florida