Volume 5 Number 5
February 1, 2008
Fellow Floridians:

Today marks the beginning of Black History Month, an opportunity for us to remember the history of African-Americans and the many rich contributions those with African heritage have made to our nation. It is also a time for us to celebrate black role models throughout our country’s history.

Gov. Charlie Crist has created a Web site to celebrate Florida’s Black History Month at http://www.floridablackhistory.com/. This month’s theme is “Pioneering the Future,” and you can learn more about brave men and women who faced injustice and discrimination and fought for a better future right here in Florida. On the Web site you can also learn about an essay contest for Florida’s students, Florida’s leaders who broke barriers, and suggested reading for all ages wishing to celebrate Black History Month.

This month, let us reflect upon those who have helped to level inequalities in our society, and let us also build upon the foundation they have created all year long.

1861-Hearse

1861 Hearse

 

1903 Stanley Steamer

1903 Stanley Steamer

 

1929 Auburn

1929 Auburn

 CFO SINK HELPS OPEN THE TALLAHASSEE AUTOMOBILE MUSEUM

In the company of area dignitaries, CFO Alex Sink welcomed the Tallahassee Automobile Museum to its new 95,000 square-foot home. One of the finest car collections in the world, the museum holds more than 128 show cars - including three Batmobiles, the hearse that carried President Lincoln, and a 1931 Duesenberg Model J appraised at more than $1.2 million.

Located at 6800 Mahan Drive, the museum, expecting to attract more than 20,000 visitors annually, offers banquet and meeting facilities for groups in the Tallahassee area.

The museum houses the largest solar panel system in the state with green items from the carpet and flooring to the electrical fixtures.

FLORIDA BAR BOARD OF GOVERNORS MEETING

Today, CFO Alex Sink spoke in Tallahassee at the meeting of the Board of Governors of the Florida Bar. Highlighting the growing number of Floridians falling prey to foreclosure schemes, CFO Sink called upon the board to provide legal assistance to homeowners who are being evicted from their homes.


 

 

CFO SINK ENCOURAGES FLORIDIANS TO BE MORE ENGAGED IN LOCAL DECISIONS ABOUT THEIR TAX DOLLARS
Announces new Web site to educate Floridians about local government finances
 
In an effort to educate Floridians about their own local government income and spending, Chief Financial Officer Alex Sink today announced the launch of “Your Local Government Dollars and Cents,” found on her Web site, www.MyFloridaCFO.com. “Your Local Government Dollars and Cents” is a new tool that provides Floridians easy access to their local government’s revenues and expenditures.

“I’m launching ‘Your Local Government Dollars and Cents’ to help Floridians get educated and more engaged in local government spending,” said CFO Sink, who oversees the Department of Financial Services (DFS). “I encourage every Floridian to use this tool and get more involved in how their local tax dollars are spent. With governments actively cutting their budgets, it is essential that Floridians make it clear what their priorities are for their communities.” CONTINUED

 

 CFO SINK ANNOUNCES FIRST MEETING OF MSFH ADVISORY COUNCIL MONDAY

Florida Chief Financial Officer Alex Sink today announced the first meeting of the legislatively created My Safe Florida Home (MSFH) Advisory Council to be held on Monday, February 4, 2008, in Tallahassee at the Capitol, in the Senate Office Building, Room 401. CFO Sink will address the council at 8:30 a.m. prior to the commencement of Monday’s meeting.

The Council, authorized by Section 215.5586, Florida Statutes, was created to provide advice and assistance to the Department of Financial Services (DFS) regarding the administration of the MSFH program. CFO Sink will use the council’s findings to further improve the services provided to Floridians through the program.

Date:         Monday, February 4, 2008
Time:        8:30 a.m. to 12:00 p.m.
Location:  The Capitol Building
                 Room 401 of the Senate Office Building
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SINK, McCOLLUM  AND McCARTY ANNOUNCE $12.5 MILLION AIG INSURANCE SETTLEMENT

Chief Financial Officer Alex Sink, Attorney General Bill McCollum  and Insurance Commissioner Kevin McCarty today announced that Florida has reached a settlement with a large insurance carrier involved in a “pay-to-play” tactic used by Marsh & McLennan and other insurance brokers. American International Group Inc. (AIG) will pay $12.5 million to Florida and eight other states as well as the District of Columbia to resolve allegations that some of its insurance subsidiaries engaged in bid-rigging and price-fixing in the commercial insurance market. These actions purportedly caused Florida public entities and private organizations to pay higher premiums.

“It’s wrong that governments and businesses paid inflated insurance rates because they were led to believe there was competition when there wasn’t,” said CFO Sink, who oversees the Department of Financial Services which served a lead role in the multi-state investigation along with the Attorney General’s Office and the Office of Insurance Regulation. “I applaud today’s settlement, because policyholders deserve to know exactly what they are paying for and that they are paying a fair price for it.” CONTINUED


 
CITIZENS TASK FORCE MET FEBRUARY 1

 The Task Force on Citizens Property Insurance Claims Handling and Resolution held a public meeting on Friday, February 1, 2008, in Jacksonville, Florida. The agenda and presentation materials are posted on the Web at http://taskforceoncitizensclaimshandling.org.

The next Task Force meeting is tentatively scheduled for Tuesday, February 26, 2008, in Tallahassee. The February 1 meeting will be video-recorded and posted on the website.
 

STATEMENT BY CFO SINK ON THE GOVERNOR’S RECOMMENDED BUDGET FOR 2008-2009 FISCAL YEAR

Florida Chief Financial Officer Alex Sink issued the following statement in response to Gov. Charlie Crist’s budget recommendations for the 2008-2009 Fiscal Year:

“I applaud the Governor for his dedication to recommending a budget for the upcoming Fiscal Year that includes increased funding for essential services, such as education, health care and public safety.  As the Chair of the Healthy Kids Corporation, I am particularly encouraged that the Governor recommended a $60.6 million increase for Florida’s KidCare program that will allow more than 46,000 children access to affordable health care.  I am also pleased to see his continued commitment to environmental programs and an invigorated effort to advance a clean energy economy.”

“While I understand the current challenge to find resources in this year’s budget, I am concerned about the recommendation to sweep $129.5 million from the Workers’ Compensation Administration Trust Fund.  Through efficient management and reform of the Workers’ Compensation system, our state has been able to reduce Workers’ Compensation Administrative Trust Fund assessments from 2.75 percent to 0.25 percent, which is a 91 percent reduction over an eight-year period.  A trust fund sweep of this magnitude will require the state to raise Workers’ Compensation assessments—taxes—on Florida businesses as early as January 2009.  I look forward to working with the Governor and the Legislature to prevent assessment increases on Florida’s business owners, many of whom are struggling to balance their own budgets.”

REPRESENTATIVES FROM CFO SINK’S OFFICE  HELP KICK-OFF REALSENSE PROSPERITY CAMPAIGN

In an ongoing effort to increase financial literacy and help Floridians make better financial decisions, Florida Chief Financial Officer Alex Sink’s office has partnered with the Realsense Prosperity Campaign to promote awareness about free tax preparation services available for low-to-moderate income families.

The kickoff event encouraged residents to take advantage of free tax preparation services provided by IRS-certified volunteers. Volunteers and representatives at over 20 sites throughout Northeast Florida are working to ensure low to moderate income families who qualify for the Earned Income Credit (EITC) file for it. Additionally, the campaign will promote free financial literacy classes to help individuals and families set healthy financial goals and keep more of their money in their pockets.
 

MAKING THE CLAIMS PROCESS EASIER
What Consumers Should Know When Faced with A Loss

Important, but sometimes difficult, filing a claim can be one of the most frustrating processes during a crisis or following a major disaster. Delays in the claims process was the No. 1 complaint of insurance consumers in 2007, according to the National Association of Insurance Commissioners (NAIC). It is critical that at these times, you are prepared with the information your insurance company needs. To help you avoid problems getting your claims paid, the NAIC offers these tips:

Know Your Policy

Understand what your policy says. The policy is a contract between you and your insurance company. Know what’s covered, what’s excluded and what the deductibles are.

File Claims as Soon as Possible

Don’t let the bills or receipts pile up. Call your agent or your company’s claims hotline as soon as possible. Your policy might require that you make the notification within a certain time frame.
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