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Statement from CFO Jeff Atwater Regarding House Regulatory Affairs Committee Passage of Legislation that Creates Homeowner Claims Bill of Rights

4/10/2014

Contact: Chris Cate
(850) 413- 2860
 
TALLAHASSEE – Chief Financial Officer Jeff Atwater issued a statement following the passing of HB 743 by the House Regulatory Affairs Committee, moving the bill closer to a vote before the full Florida House.
 
“Thank you to Committee Chair Holder for supporting this bill, which will enhance consumer confidence and assure that all Floridians are treated fairly when filing an insurance claim. Thank you also to Representatives Hood and Moraitis for their hard work and for stepping forward to lead the charge by sponsoring this important piece of legislation.
 
“This bill creates a common sense solution to the frustration and confusion many feel when navigating the insurance claims process. It establishes a Homeowner Claims Bill of Rights, a one page document clear in its language, which sets forth policyholders’ rights under Florida law. Insurance companies will be required to provide a copy of this bill of rights to any policyholder who files a claim, allowing them to feel confident and educated during the claims process.
 
“This legislation also requires insurers to complete the underwriting process within 90 days. Additionally, it prohibits the denial of a claim or cancellation of a policy based on an insured’s credit information available in public record after a policy has been effective for 90 days.
 
“I ask the Legislature to stand with me and continue support of these sound solutions that will empower Floridians. As Florida’s Chief Financial Officer, I remain committed to this critical endeavor, and I will work tirelessly to ensure the passage of this bill.”
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 Chief Financial Officer Jeff Atwater, a statewide elected official, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government; reducing government spending and regulatory burdens that chase away businesses and providing transparency and accountability in state spending.