Volume 4 Number 24
June 15, 2007

Dear Floridian,

I am pleased to announce that the 50,000 homeowners previously awaiting wind mitigation inspections through the My Safe Florida Home (MSFH) program have all been served - a month earlier than anticipated - and the program is now eagerly awaiting applications from more homeowners.

The Department of Financial Services has streamlined the program to provide better service and give homeowners valuable information about the steps they can take to mitigate their homes. We must build a culture of mitigation in our state and, long-term, mitigation is the key to reducing our state’s exposure to catastrophic hurricane damage.

Please read more about the program below and take the time to log on to www.mysafefloridahome.com to find out how safe your home is, what you can do to strengthen your home against hurricanes, and if you are eligible for savings on your hurricane insurance premiums. Many homeowners have learned that they qualify for an average 18 percent savings before doing any mitigation work.

Our goal at the My Safe Florida Home program is ultimately to make our beloved state "My Safe Florida!"
 

Sincerely,

Alex Sink

27 ARRESTED IN MIAMI STAGED ACCIDENT RING
‘Operation TGIF’ uncovers insurers billed $300,000 in staged Friday accidents

Florida Chief Financial Officer Alex Sink announced the arrests of 27 people in an ongoing investigation into a staged accident ring that billed auto insurers more than $300,000 in fraudulent Personal Injury Protection (PIP) claims.  The investigation was dubbed “Operation TGIF” because the staged accidents occurred on Fridays. 

The investigation began after fraud detectives from the Department of Financial Services, Division of Insurance Fraud (DIF), were interviewed on a Miami radio show and afterward a caller provided details regarding staged accidents.  The caller helped fraud detectives infiltrate the staged accident ring between December 2006 and April 2007.  Those arrested are charged with conspiracy to commit racketeering, a first-degree felony punishable by up to 30 years in prison, and several are also charged with money laundering. 

“We do not take insurance fraud lightly, especially when so many people are conspiring to rip off Floridians,” said CFO Sink, who oversees the department. “I commend all of the investigators for their hard work and thank the caller who provided the tip for having the courage to stand up for what is right.” CONTINUED

 
TASK FORCE ON CITIZENS PROPERTY INSURANCE CLAIMS HANDLING AND RESOLUTION TO MEET IN FT. LAUDERDALE

In an ongoing effort to improve Citizens’ policyholder and applicant services, Florida Chief Financial Officer Alex Sink is convening the fourth meeting of the legislatively-created Task Force on Citizens Property Insurance Claims Handling and Resolution. The task force will meet twice on Tuesday, June 19, 2007, from 2 – 4 p.m. and 6 – 8 p.m. at Nova Southeastern University, in the Rose and Alfred Miniaci Performing Arts Center.

Consumers who have homeowner policies with Citizens or who have open claims from the 2004/2005 hurricane seasons are encouraged to attend the public hearings and provide public testimony. The Department of Financial Services will also have consumer assistance on site to help Floridians with questions regarding Citizens claims and policies. CONTINUED
 



 

 

 

MY SAFE FLORIDA HOME ‘BLOWING’ THROUGH WIND INSPECTIONS
CFO Sink urges more homeowners to sign up for free wind inspections

More than one month ahead of schedule, Florida Chief Financial Officer Alex Sink announced that the My Safe Florida Home (MSFH) program has “blown” through its waiting list and urged more Florida homeowners to take advantage of the valuable service through the program. Since the program resumed offering inspections in late April, more than 50,000 Floridians who were on the program’s waiting list from the pilot phase have received free wind inspections.

After the program got off to a slow start in 2006, CFO Sink streamlined the program to provide better service to more Floridians. New applicants can apply at the MSFH program’s Web site at www.MySafeFloridaHome.com or over the program’s toll-free helpline at 1-866-513-MSFH (6734). With a free wind inspection from the MSFH program, Floridians can learn how safe their homes are, what they can do to strengthen their homes against hurricanes, and if they are eligible for savings on their hurricane insurance premiums. Homeowners who receive an inspection through the MSFH program may be eligible for matching grants up to $5,000 to help harden their homes.

“As a businesswoman, I wanted the My Safe Florida Home program to serve Floridians more efficiently and provide the critical information homeowners needed to harden their homes,” said CFO Sink, who leads the Department of Financial Services. “We are well on our way to informing Florida families about ways to harden their homes and helping them save money on their insurance premiums.” CONTINUED
 

 

FLORIDA CLIMATE CHANGE CONVERSATIONS CONTINUE

Serving as the State Treasurer, Florida Chief Financial Officer Alex Sink has dedicated her first six months in office to understanding the issues that affect the future of Florida’s economy.

In this pursuit, CFO Sink has launched an effort to educate the Cabinet and our state's citizens about the potential implications of climate change.

Additionally, CFO Sink joined the Investor Network on Climate Risk (INCR), a national network of investors focused on the business impacts of climate change. CFO Sink is the first Florida-based institutional investor to join the three-year-old organization, which now includes more than 50 public and private institutional investors managing more than $3.7 trillion in assets. The network focuses on the future financial risks and investment opportunities posed by climate change..  CONTINUED