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Volume 1, No. 5 - October 2012

News You Can Use

- Updating you on what's going on

CFO Atwater Invites Teens to Submit Essay Describing Strategies to Meet Financial Goals as Part of Statewide Essay Contest

As part of his mission to educate Floridians about critical financial issues that affect the security and prosperity of their futures and families, Florida Chief Financial Officer Jeff Atwater announced the launch of his Florida Students $ave Essay Contest. The contest will award hundreds of dollars to Florida students who present the best research and planning in response to scenarios that reflect short- and long-term financial goals.

To find out more information about the essay contest, including a list of contest rules, regions and how to submit an essay, visit or you may call the Division of Consumer Services helpline at 1-877-MY-FL-CFO (693-5236).
Click here to read the press release >>

On Guard for Seniors Website Arms Florida's Fastest-Growing Population with Tools to Fight Fraud

Florida Chief Financial Officer Jeff Atwater's Department of Financial Services has launched a website, On Guard for Seniors, devoted to helping seniors, their family members and their caregivers identify the right questions to ask to avoid becoming a victim of fraud or misleading sales tactics. Agents can also use it as a resource to help their customers.

The On Guard for Seniors website educates seniors on topics such as annuities, reverse mortgages, long-term care insurance, and identity theft as well as success stories from seniors who sought help from the Department on these topics. The website also explains key terms, outlines important questions to ask and provides videos on how some popular insurance and financial products work.

Florida ranks first in the nation in the percentage of residents age 60 or older and has more than 1.7 million citizens who are 75 and older. According to the Department of Elder Affairs, seniors age 85 and older are currently the state's fastest-growing age group. And every day, more seniors are turning to the Internet to find information.

To report fraud or to learn more about the many other services offered by the Department of Financial Services, visit or call 1-877-My-FL-CFO.

Florida Announces a $11 Million Multi-Agency Agreement with the AIG Companies to Protect Life and Annuity Beneficiaries

Florida Insurance Commissioner Kevin McCarty announced that an $11 million settlement has been reached with 10 companies collectively referred to as AIG. The agreement is the fifth agreement Florida has settled that requires large national insurers to appropriately use the U.S. Social Security Death Master File (DMF) to locate life and annuity beneficiaries, and promptly remit payment to the unclaimed property division of each state for beneficiaries that cannot be located.
Click here to read the press release >>

Office Approves Up to 100,000 Policies for Citizens December Take-Out

The Florida Office of Insurance Regulation (Office) announced the approval of up to 100,000 policies to be removed from Citizens Property Insurance Corporation (Citizens) by two Florida domestic insurance companies starting on December 4, 2012. American Integrity Insurance Company of Florida was approved to take-out 50,000 policies in November and is approved for an additional 40,000 in December. Heritage Property & Casualty Insurance Company, recently licensed in August 2012 and with a home office in St. Petersburg, FL, has been approved to remove 60,000 policies.
Click here to read the press release >>

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