Volume 4 Number 33
August 17, 2007

Fellow Floridian:

On October 1, our state's Motor Vehicle No-Fault law will expire  along with the requirement to purchase Personal Injury Protection (PIP) coverage, assuming no legislative action is taken. Payment for injuries sustained during an accident will be the financial responsibility of the at-fault driver.

Under the current No-Fault law, Florida drivers are required to carry PIP coverage, which pays the first $10,000 of the drivers’ and their passengers’ medical costs, regardless of fault.

We advise consumers to review their auto insurance coverage in the next six weeks and to purchase coverage to provide proper medical treatment in case of an accident.

In the event one is at fault in an accident after the expiration of No-Fault, sufficient auto insurance coverage can also help protect financial assets.

Find out more about this important issue on our Web site, MyFloridaCFO.com. FAQs, charts and in-depth discussion of the issues will help prepare Floridians for life without No-Fault and help protect families and their assets.

Sincerely,

Alex Sink

Click here to get the financial tools you need, from basic preparedness information to a complete set of documents to aid in recovery.ry.

 

 

 HURRICANE DEAN GROWS INTO A MAJOR STORM

As this week progresses, Dean is sweeping through Jamaica and the Cayman Islands, on the way to Mexico and possibly Texas.

Florida has been spared the wrath of this storm but our guard should be up for future developments in the tropical storm arena.

Be ready for future storms by making preparations to protect your family and property. Make sure you have storm supplies on hand such as bottled water, batteries and other necessary items. Visit our Hurricane Season 2007 Web pages for more helpful information.

Most of all, follow any evacuation notices from your local authorities. This storm can easily make a turn towards Florida and we will be prepared.

When a hurricane is projected to hit our state, the Department of Financial Services activates a special consumer helpline for Floridians to seek assistance on insurance matters. The number is 1-800-22-STORM, or 1-800-227-8676. Hearing-impaired residents may use a TDD to call 1-800-640-0886.

Long-term, mitigation is the best way to reduce the potential threat of damage from a hurricane or tropical storm. For more information on what steps to take to harden your home, please visit My Safe Florida Home.


SOUTH FLORIDA TV INTERVIEW WITH CFO SINK

One-on-one with Chief Financial Officer Alex Sink
“Mass confusion” and more lawsuits—that’s what Chief Financial Officer Alex Sink believes will happen if Florida’s PIP No Fault insurance is allowed to sunset in October. On the program she’ll explain why and how her department will still investigate PIP fraud even if the law is not renewed or reformed in a special session.

Guest: Alex Sink, Florida Chief Financial Officer

Chief Financial Officer Alex Sink will be the guest on South Florida's WPBT Channel 2 show Issues on Friday, August 17, at 7:30 p.m.

This episode of ISSUES will air again on Sunday, August 19th at 12:30PM.

ISSUES is hosted by Jeff Yastine of the Nightly Business Report. 

On Monday, August 20, the interview will be online at this address: www.channel2.org/issues. 



QUESTIONS ABOUT LIFE WITHOUT NO-FAULT?
GET ANSWERS AT MYFLORIDACFO.COM

Florida Chief Financial Officer Alex Sink announced that Florida’s auto insurance consumers can log onto her Web site, MyFloridaCFO.com, and click on the “Life without No-Fault” link to learn about the new insurance laws in effect after the sunset of No-Fault.

In absence of legislative action, Florida’s Motor Vehicle No-Fault Law will expire on October 1, 2007, along with the requirement to purchase Personal Injury Protection (PIP) coverage. Beginning October 1, whether someone is at fault in an accident could make all the difference as to which driver will be liable to pay for damages.

“The best advice we can give to consumers is to purchase enough auto insurance coverage to provide proper medical treatment for themselves and their families,” said CFO Sink, who oversees the Department of Financial Services. “In the event someone is at fault in an accident after the expiration of No-Fault, sufficient auto insurance coverage can help protect that family’s financial assets.” CONTINUED

CFO SINK ANNOUNCES MIAMI-DADE FRAUD ARRESTS FOR PIP, PROPERTY DAMAGE FRAUD

Florida Chief Financial Officer Alex Sink announced arrests of individuals accused of various insurance fraud schemes including auto body damage, Personal Injury Protection (PIP), and hurricane claim fraud. Two of those arrested face up to 55 years in prison on multiple felony charges and are suspected to be the ringleaders in organizing more than 70 “paper” motor vehicle crashes since 2003.



The arrests stem from investigations by the Department of Financial Services, Division of Insurance Fraud (DIF), a sworn statewide law enforcement agency that last year made more than 800 arrests and currently leads the nation’s fraud bureaus in the number of cases presented to prosecutors and the amount of court-ordered restitution.

“The arrests we are announcing today represent another victory for consumers as we continue to root out fraud that increases rates that Floridians pay,” said CFO Sink, who oversees the Department. “I want to assure Floridians that even after the sunset of No-Fault, we will continue to vigorously pursue those who defraud the system and put our officers’ lives at risk.” CONTINUED
 

RESOLUTION OF THE GOVERNOR AND CABINET TO SOLDIERS TO SCHOLARS

WHEREAS, the Soldiers to Scholars program was established in 1996 by Dr. Alzo Reddick as a mechanism to encourage U.S. military veterans to further their post-secondary education and pursue second careers as teachers and nurses in Florida; and

WHEREAS, by volunteering 5 hours a week to mentor at risk children in inner-city areas, Soldiers to Scholars participants that live in designated housing can receive up to 100% of the tuition, books and required supplies at either a community college in the Orlando area or at the University of Central Florida; and



CONTINUED
 


 

 CFO SINK ANNOUNCES ARREST IN UNDERCOVER OPERATION

A former insurance agent who had his license revoked last year by the Department of Financial Services is now facing criminal charges after he allegedly offered to sell insurance to an undercover insurance fraud detective.

Mark Dwain Hannifin, 45, owner and operator of Hannifin & Associates in Wellington, was arrested earlier this month on charges of soliciting insurance without a license and transacting insurance without a license. If convicted he faces up to five years in prison on each count in addition to fines and restitution. Detective Stacey Spirn with the Department of Financial Services’ Division of Insurance Fraud (DIF) was lead investigator, and was assisted by DIF Captain Simon Blank.

“We urge Floridians to check our Web site or call the department’s Consumer Helpline to ensure an agent is licensed,” said Florida Chief Financial Officer Alex Sink, who oversees the department. “No one should transact business with an unlicensed agent, much less one whose license was revoked for prior bad conduct.” CONTINUED
 

RESOLUTION OF THE GOVERNOR AND CABINET TO THE 2007 TROOPER OF THE YEAR

WHEREAS, the Troopers of the Florida Highway Patrol are exposed to personal risk on a daily basis while serving and protecting the citizens and visitors of Florida; and, 

WHEREAS, since 1965, the Florida Petroleum Council has sponsored the Trooper of the Year Award which is presented annually to an outstanding trooper in recognition of acts of heroism or exceptional performance of duties; and 



WHEREAS, Trooper Edward Pope is a 4-year veteran of the Florida Highway Patrol assigned to Troop F, Charlotte County, and has distinguished himself during the call of duty by exhibiting exemplary valor in the face of adversity; and   CONTINUED

CENTRAL FLORIDA MAN CHARGED WITH SELLING FRAUDULENT IDENTIFICATION CARDS

Florida Chief Financial Officer Alex Sink announced that a Central Florida man is facing several felony charges after fraud detectives with the Department of Financial Services caught him allegedly selling fraudulent social security and resident alien cards from his home. Subsequently, a search warrant was executed, and detectives uncovered equipment used to make the fraudulent cards.

Jose R. Rojas Sanabria, 27, was arrested last week in his Wimauma home after detectives with the department’s Division of Insurance Fraud (DIF) had two informants buy fraudulent cards from him.

“The cost of fraud inevitably is passed on to all consumers,” said CFO Sink, who oversees the department. “But this kind of fraudulent activity carries the additional impact of undermining the security of our communities and our nation, and we are committed to protecting our citizens.” CONTINUED
 

 

FINANCIAL LITERACY COUNCIL CONVENED THIRD MEETING IN TAMPA

In an ongoing effort to increase financial literacy and help Floridians make better financial decisions, Florida Chief Financial Officer Alex Sink reported that the Financial Literacy Council held its third meeting in Tampa this week at the Bill Poe Family Junior Achievement Center.

During the first two meetings the council met both in person and by phone to outline their goals, strategies and mission statement. The council heard from Department of Financial Services Consumer Outreach coordinators about call trends from the more than 450,000 calls made to the consumer helpline each year. CONTINUED