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CFO Sink Recovers $4.4 Million for Florida Insurance Consumers Since January

4/15/2010

CONTACT: Kevin Cate or Nina Banister, (850) 413-2842
 
TALLAHASSEE — Florida CFO Alex Sink announced today that her Department of Financial Services has helped recover more than $4.4 million for Florida’s insurance consumers in the first quarter of 2010. Under CFO Sink’s leadership, the department’s Division of Consumer Services continues its diligent efforts to help Floridians get the money they’re owed from insurance companies.  
 
“These recoveries are a tribute to the dedicated public service professionals working on our Consumer Helpline everyday and advocating on behalf of Floridians,” said CFO Sink. “Today, it is more important than ever to have someone fighting for your rights as a consumer.”
 
One such recovery involved a husband and wife in Jupiter who were misled into purchasing a $180,000 annuity by an unscrupulous insurance agent.  After receiving the complaint through the DFS Consumer Helpline, one of CFO Sink’s insurance consumer specialists discovered that the agent sold the couple the annuity inappropriately. The company soon terminated the contract and returned all the money.  “We almost paid $30,000 for an attorney,” the consumer said. “I can’t thank the department enough because we were duped. It was a huge wake-up call.”
 
A Naples homeowner also contacted the Department when he was forced to vacate his home due to broken pipes and water damage.  After contacting his insurance company numerous times and several visits from adjusters, his claim dragged on for over a month with no end in sight.  An insurance consumer specialist contacted the company on his behalf and the claim was soon paid totaling over $80,000.
 
In 2009, the Department helped recovered $22 million, up from $14 million in 2008. In addition to the Consumer Helpline, CFO Sink also offers insurance consumer assistance online through Consumer Help Online, where consumers can 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).
 
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