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CFO Sink’s Consumer Specialists Recover $22 Million for Floridians in 2009

1/8/2010

CONTACT: Kyra Jennings or Nina Banister (850) 413-2842
 
TALLAHASSEE—Florida CFO Alex Sink today announced that her Department of Financial Services helped recover over $22 million for Florida’s insurance consumers in 2009. With CFO Sink’s leadership and businesslike approach, her Division of Consumer Services has annually increased its effectiveness in helping Floridians get the money they’re owed back from insurance companies.  
 
“Our mission is to fight for Floridians and hold these insurance companies accountable,” said CFO Sink. “I commend the work of our consumer experts who worked diligently to get millions back for the everyday Floridians who are struggling in these tough economic times.”
 
One recent success story was the recovery of more than $516,000 for 998 customers of Household Finance Company (HFC). The Department started an aggressive investigation after being tipped off by an Orlando resident who discovered monthly premiums of $4.93 being deducted from her account two years after her policy expired. 
 
Another recovery occurred after a Sarasota resident was sold an annuity that did not meet the requirements he set.  “Without this assistance, I wouldn’t have gotten anywhere,” said Charles Smith, who was able to successfully recover his full investment of $60,000 from an improper annuity after CFO Sink’s insurance consumer experts contacted the company.
 
An additional accomplishment came from Richard Foster of Temple Terrace, who was frustrated because he could not get a call back from his insurance company regarding a claim.  After calling CFO Sink’s insurance consumer helpline, consumer specialists helped Mr. Foster resolve his claim and assisted him in recovering $12,160 in just a few days.
 
The recovery of over $22 million by CFO Sink’s Division of Consumer Services represents a continued annual increase in yearly recovered funds, up from $14 million in 2008.  CFO Sink also recently launched an online help center, where consumers will be able to file a request for assistance and check the status of their request at any time.
 
Floridians who need help recovering money from insurance companies or have an insurance claim, question or complaint, can receive help online at  www.MyFloridaCFO.com or call our Consumer Helpline at (850) 413-3089 or toll-free at 1-877-MY-FL-CFO (1-877-693-5236).
 
As a statewide elected officer of the Florida Cabinet, CFO Alex Sink oversees the Department of Financial Services.  A successful businesswoman with nearly three decades of experience in the private sector, Sink is serving her first term as Florida's CFO.  As CFO, Sink's priorities include using her business experience to cut wasteful government spending, cracking down on financial and insurance fraud and reforming the state government's contracting practices.