Volume 1 Number 51
December 20, 2004










TEXT VERSION

HAPPY HOLIDAYS!

The four hurricanes and tropical storm that Florida experienced this year have afforded us the opportunity to think about and help those victimized by these disasters. Individually and collectively, we have stepped up to the plate in remembering and assisting those in need.

Although this year’s storms have passed, let us work hard to maintain that spirit of generosity, not only during this traditional season of giving, but also throughout the upcoming year as well.

May this holiday season be an especially joyous time for enjoying family and friends, but most importantly, let it be a time of continued giving.

Best wishes,

The skyline for December is downtown Gainesville, featuring the Hippodrome Theater, originally the post office.
 
 

HB 9A
General Bill by Ross

Last Action:  12/16/04
 Senate Passed; 

YEAS 38 NAYS 1 -
SJ 00016

 
GALLAGHER ASSURES STORM VICTIMS THAT A PROCESS TO APPLY FOR DEDUCTIBLE RELIEF WILL SOON BE IN PLACE

Florida lawmakers approved a measure - House Bill 9A - that will provide $150 million in financial assistance for Floridians faced with multiple hurricane deductibles. Those eligible will be reimbursed up to $30,000 to cover multiple deductibles applied to homeowners insurance policies. Storm victims will be responsible for paying their first deductible plus $100 toward each subsequent deductible.

The new law requires the state Department of Financial Services to promulgate rules governing eligibility and the application process. Pending the governor’s approval of the new law, the department will be assessing available data on policyholders with multiple deductibles and working with insurance companies to ensure all eligible Floridians are identified.

“Our goal is to get financial assistance to impacted Floridians as soon as possible,” said Florida’s Chief Financial Officer Tom Gallagher, who oversees the Department of Financial Services. “Applications from insurance companies to eligible Floridians should be in the mail by early January.” 

 CONTINUED
 

 

Hurricane Deductibles

 


Patriot and Warrior
A Painting by Christopher M. Still
Oil on Linen, 126 by 48
in the Chamber of the
Florida House of Representatives,
The Capitol

 

 

    MULTIPLE DEDUCTIBLE REIMBURSEMENT
    PROGRAM QUESTIONS & ANSWERS

 

  1. What is the multiple deductible reimbursement program?

With four hurricanes in less than 45 days, the possibility of being charged more than one insurance deductible became a reality for many Floridians.   Paying more than one deductible was financially devastating to many.  On Dec. 16, the Florida Legislature approved a law to provide financial relief for storm victims who were charged more than one deductible when they filed claims with their insurance company. 

  1. What type of policies will be included in this disbursement?

The following type of contracts will be included in the disbursement:  Homeowners, Mobile Homes, Dwelling Fire, Renters, Condominium Unit Owners and Condominium Associations.    Commercial, Marine, Auto and any other types of insurance were not included.  CONTINUED
 

 

 

 POLICYHOLDERS OFFERED REPLACEMENT COVERAGE AS AMERICAN SUPERIOR HEADS INTO LIQUIDATION

Florida’s Chief Financial Officer Tom Gallagher announced that an insurance company has agreed to offer replacement homeowners’ coverage to the 60,000 Florida policyholders of American Superior Insurance Company. American Superior went into state receivership in late September.

Second Judicial Circuit Judge Jonathan Sjostrom approved a consent order locking in the agreement between North Pointe Casualty Insurance Company and American Superior. At the same time, Judge Sjostrom ordered American Superior into liquidation.

“I am disappointed that American Superior could not be rehabilitated,” said Gallagher, who oversees the Department of Financial Services. As receiver, the department has been overseeing the company’s operations since Sept. 29. “But I am very pleased that these homeowners, who already have experienced so much anxiety, can begin the New Year knowing they will have insurance coverage.”  

CONTINUED

Visit the Cypress Gardens website for more information.

http://cypressgardens.com/

SCENIC CYPRESS GARDENS REOPENS WITH NEW ATTRACTIONS

Located in Winter Haven, Cypress Gardens Adventure Park’s grand opening was a festive event with a ski show, hoop-skirted Southern belles and new roller coasters and rides. Not your grandparents’ Cypress Gardens of serene gardens and water acrobatics, but new excitement of the modern amusement park to complement the natural beauty and historical gardens. 

“This is a dynamic use of Florida Forever funds,” commented Chief Financial Officer Tom Gallagher. “The Cypress Gardens many Florida residents and visitors remember is recaptured with its southern charm and exciting water ski shows. And the visitors who want a more exciting adventure can find that, too.” 

CONTINUED