Volume 2, No. 6 - August 2011

News You Can Use

- Updating you on what's going on

Upcoming Changes to the MyProfile System

After receiving additional feedback from our licensee population and others in the industry, we want to issue one more reminder about the upcoming changes to MyProfile that will go live in the near future. We will email all licensees detailed information prior to implementation of the changes with guidance on creating their new account. For this reason, we are reminding you that it is essential to have your correct email address on file with us now through your MyProfile account so you do not miss this upcoming important communication (in addition to the fact it is legally required per s. 626.551, F.S.). If you also have an agency license, don't forget to log in to your agency's MyProfile account and update it as well. The major enhancement allows you to create your own username and password; eliminating the need for logging in with a social security number or federal employer identification number. You will only need to enter that information when you create your new username and password. At the same time, you will also set up security questions and answers to easily retrieve your password in the event you should forget it. Another enhancement stemming from feedback is a simplified license application, reducing the need to go through multiple screens, and allowing the applicant to review their answers to the questions on the application all at one time.

The new system will also allow you to use any internet browser you wish, including your mobile device. This means you can use Firefox, Safari, Chrome, or any of the other browsers in use today - and not limited to just Internet Explorer.

CFO Atwater's Fraud Team Busts Accident Clinic Operator For Filing Claims on Behalf of a Dead Doctor

Florida Chief Financial Officer Jeff Atwater announced the Division of Insurance Fraud on Wednesday arrested Hialeah accident clinic operator Daysi Puigros on more than 30 felony counts stemming from allegations that she filed more than $200,000 in fraudulent Personal Injury Protection (PIP) claims using the name of a deceased doctor.
Click here to read the press release >>

CFO Atwater Announces Arrest of Tampa Man in an Accident Clinic Money Structuring Scheme

Florida Chief Financial Officer Jeff Atwater announced the arrest of Hillsborough County resident, Juan C. Borras, 55, an employee of American Best Clinic, LLC, on charges of intentionally structuring large cash withdrawals to avoid reporting or registration required by Florida law. This tactic has been linked as a common practice for automobile accident clinics suspected of Personal Injury Protection (PIP) fraud.
Click here to read the press release >>

CFO Jeff Atwater Announces Arrest of Central Florida Contractor in Sinkhole Repair Billing Scam

Florida Chief Financial Officer Jeff Atwater announced the arrest of an Oviedo business owner for overbilling State Farm Insurance Company for fraudulent sinkhole claim repairs. Michael Hodge, owner of A&M Contracting Company, is charged with multiple counts of racketeering and insurance fraud involving billings for materials he never used to repair properties in Orange, Seminole and Volusia counties.
Click here to read the press release >>

Insurance Consumer Advocate Creates PIP Working Group

Florida's Insurance Consumer Advocate, Robin Westcott, today announced the creation of a working group to discuss and develop policy ideas to combat the skyrocketing costs of car insurance. According to Westcott, Personal Injury Protection (PIP) fraud is one of the biggest cost drivers for Florida families who are required by law to purchase PIP insurance coverage.
Click here to read the press release >>

CFO Atwater Names Citizens Property Insurance Corporation (Citizens) Board Appointees

Florida Chief Financial Officer Jeff Atwater announced the appointments of Nancy Baily and Rob Wallace to the Board of Governors for Citizens Property Insurance Corporation.
Click here to read the press release >>

The Florida Office of Insurance Regulation (Office) Announces Citizens Public Hearing

The Florida Office of Insurance Regulation (Office) will conduct a public hearing on September 13, 2011 to discuss Citizens' proposed rate increases for the Coastal Accounts, formally known as the High Risk Accounts (HRA), and the Personal Lines Accounts (PLA). These accounts include, but are not limited to: homeowners and dwelling/fire lines of business.
Click here to read the media advisory >>

Office's Statement on Citizens Rate Filing

The Florida Office of Insurance Regulation (Office) has received the first of several annual rate filings from Citizens Property Insurance Corporation (Citizens) - most notably the Homeowners filings related to the Coastal Account formally known as the High Risk Account (HRA), and the Personal Lines Account (PLA). The Office will carefully review the filings to ensure they are complete prior to beginning the rate review process. The rate review process will evaluate whether the rates are actuarially justified and that they are consistent with Florida law. Rate filings cannot seek rate increases to recoup past losses, but must reflect actuarially predicated future losses. Due to the potential impact of this filing, the Office will conduct a public hearing and will provide such details when available.
Click here to read the press release >>

CFO Atwater Calls for Review of Check Cashing Services Aiding in Workers' Comp Fraud

At a recent Cabinet meeting, Florida Chief Financial Officer Jeff Atwater announced the creation of a working group to review the practices of certain bad actors in the check cashing services industry aiding in workers' compensation premium fraud, which is putting pressure on rates and crippling the business community. The working group will include representatives from the CFO's Division of Insurance Fraud as well as the Office of Financial Regulation, the Attorney General's Office, and the construction and money services industries.
Click here to read the press release >>

Governor and Cabinet Appoint Tom Grady as Commissioner of Financial Regulation

Governor Rick Scott and the Florida Cabinet, seated as the Financial Services Commission, appointed Tom Grady of Naples as Commissioner of the Florida Office of Financial Regulation (OFR). The OFR protects the citizens of Florida by carrying out the state's banking, securities and financial laws in an efficient and effective manner and providing business regulation that promotes Florida's economic development.
Click here to read the press release >>

Make Sure You Don't Miss Important Information From Us

Add FloridaAgentLicensing@MyFloridaCFO.com to your email software's Trusted or Safe Senders List to ensure you are able to receive all notifications from us. Licensees who have a valid e-mail address on file with us, as required by law, receive important email notifications when something that affects your application, license, continuing education, or appointment(s) occurs.  Additionally, we can keep you informed with warnings regarding new schemes and scams being marketed to licensees.  You can update your contact information through your MyProfile account.  We want to keep you informed in a timely manner of pertinent information important to you. You are still required to abide by the Florida Insurance Code regardless of whether you read the information we provide or attempt to provide.

 

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