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My Florida C F O

Dear Fellow Floridians:

Division of Insurance Fraud badgeToday, our Division of Insurance Fraud arrested attorneys, chiropractors and clinic employees involved in an organized personal injury protection (PIP) fraud scheme. These arrests, made this morning in Martin, Miami-Dade and Palm Beach counties, are the culmination of more than a year of extensive and often dangerous undercover work by our detectives that exposed a crime ring responsible for potentially hundreds of thousands of dollars in fraud.

During the investigation, multiple undercover detectives were embedded into clinics that were accepting patients who were illegally solicited. One clinic in particular was billing for services that were never rendered. On several occasions, patients were also found being coached to claim they were injured when they were not.

I am very proud of our detectives for their diligent work every day to hold crooks accountable for their crimes. Since 2011, they have made nearly 2,000 arrests for PIP fraud. Whether it is PIP fraud or another type of insurance fraud, these criminal acts drive up the cost of insurance for all Floridians and they must be stopped.

Anyone with information about suspected insurance fraud is asked to call 1-800-378-0445. Citizens who provide tips can remain anonymous. We have awarded $349,000 to nearly 60 citizens as part of our Anti-Fraud Reward Program. The program rewards individuals up to $25,000 for information that directly leads to an arrest and conviction in an insurance fraud scheme.

For more information about today’s arrests, you can read the press release here.

Jeff Atwater
Jeff Atwater
Chief Financial Officer
State of Florida

News of Interest

Palm Beach Post: At least five arrested in alleged car insurance fraud ring

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Entrepreneur: FAU launches Tech Runway incubation program for South Florida

WZVN-ABC 10 Fort Myers: Seasonal residents boosts Southwest Florida economy

Florida Economic Briefs

Home sales up 13.5 percent in September
In September, Florida reported 20,792 closed home sales, up 13.5 percent from last year (18,314). Additionally, the median sale price ($180,000) increased by 5.9 percent compared to this time last year ($170,000).
Source: Florida Realtors

Florida adds more intermodal components and becomes transportation hub for U.S.
According to a new report from Florida TaxWatch, improvements in freight handling and transfers is making Florida one of the most efficient trade and logistics hubs in the world. One of the most significant improvements is the addition of new intermodal centers, which facilitate the movement of cargo between different types of transportation. Florida consumers can expect to see pricing changes as a result of lower shipping costs.
Source: Florida TaxWatch

Florida's Bottom Line - Small Business

Florida's Bottom Line - Summer 2014Small businesses are the backbone of Florida’s economy, which is why we are focused on cultivating an environment where they can continue to thrive. Florida is home to 2.3 million small businesses, which constitute nearly 99 percent of our state’s employers. These businesses are truly the heart of Florida’s economic lifeblood, employing one-in-three working Floridians and creating nearly two-thirds of new private sector jobs statewide.

This edition of Florida’s Bottom Line highlights why Florida's small businesses must continue to grow, prosper and remain in our state for our economy to thrive. Inside, you will find keen insight from small business experts as well as a wide array of helpful resources for your small business.

Read the small business edition of Florida's Bottom Line here.

Fostering Financial Prosperity

This special issue of Florida’s Bottom Line offers an overview of the Department of Financial Services’ transparent, fiscally-sound and consumer-oriented accomplishments since 2011.

Fostering Financial Prosperity