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Volume 1, No. 4 - September 2012

News You Can Use

- Updating you on what's going on

CFO Atwater Announces Sentencing of Lee County Man Charged with Arson and Insurance Fraud

Florida Chief Financial Officer and State Fire Marshal Jeff Atwater announced the sentencing of Elbert Luis Mesa Diaz of Lee County after a joint investigation involving the State Fire Marshal Bureau of Fire and Arson Investigations (BFAI) and Citizen's Property Insurance Corporation Special Investigations Unit. The investigation revealed that Diaz intentionally set fire to a residence and later submitted a fire loss insurance claim for more than $200,000.
Click here to read the press release >>

Flood Insurance Manual: October 1, 2012

The NFIP Flood Insurance Manual is revised twice a year - in May and October. This year's October changes include updates to the Reference, General Rules, Rating, Condominiums, Preferred Risk Policy, and Severe Repetitive Loss Properties sections, among others.

The General Rules section now stipulates that, in order to avoid a 30-day waiting period, borrowers who are required to purchase flood insurance must obtain coverage within 60 days of the date of the lender's letter requiring the insurance.

The Cancellation/Nullification section in particular saw significant changes, with updates to the cancellation rules and the new signature requirement for cancellation requests. In addition, the CRS section contains a brand-new CRS Premium Discount Eligibility table as well as updates to the Community Rating System Eligible Communities list.

The October 2012 Flood Insurance Manual can be accessed at
http://www.fema.gov/library/viewRecord.do?id=6393.

For more information about the National Flood Insurance Program (NFIP), visit
http://www.fema.gov/about/programs/nfip/index.shtm.

For more information about the Federal Emergency Management Agency (FEMA), go to
http://www.fema.gov/.

Office Approves 150,000 Policy Removals from Citizens Property Insurance Corporation

Florida Insurance Commissioner Kevin McCarty announced the Office of Insurance Regulation has approved the removal of 150,000 policies from Citizens Property Insurance Corporation (Citizens) by four private sector companies beginning November 6, 2012. The November take-out total will add to the 84,339 policies already taken out during this calendar year.
Click here to read the full statement >>

Office Approves 60,000 Additional Policies for Citizens November Take-Out

The Florida Office of Insurance Regulation (Office) announced the approval of an additional 60,000 policies to be removed from Citizens Property Insurance Corporation (Citizens). This will add to the 84,339 policies already taken out during this calendar year, as well as the 150,000 policies recently approved to be acquired by four Florida domestic insurance companies beginning November 6, 2012.
Click here to read the full statement >>

AvaHealth, Inc., d/b/a Key Insurance Plan Ordered Into Liquidation

On August 31, 2012, the Second Judicial Circuit Court in Leon County, Florida, entered an order placing AvaHealth, Inc., d/b/a/ Key Insurance Plan ("AvaHealth") into receivership for purposes of liquidation. The Florida Department of Financial Services is the court appointed Receiver of AvaHealth. The company was previously placed into receivership for purposes of rehabilitation effective July 2, 2012.

CFO Atwater Announces Arrests in Miami Staged Accident Scheme Linked to Six Fraud Rings

Florida Chief Financial Officer Jeff Atwater announced the arrests of eight individuals involved in multiple staged accidents in Miami-Dade County connected to six PIP fraud rings.
Click here to read the press release >>



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