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IN CASE YOU MISSED IT: WJXT: Florida CFO says insurance proposal will put brakes on fraud after storms

10/20/2022

Florida CFO says insurance proposal will put brakes on fraud after storms
Ashley Harding
WJXT
October 20, 2022

Read full article HERE

Florida’s Chief Financial Officer is calling for a major overhaul in the way insurance is handled to prevent fraud in wake of Hurricane Ian.

State CFO Jimmy Patronis said he plans to introduce new legislation in the upcoming session to address everything from bad public adjusters to helping consumers understand exactly what they’re signing.

The announcement comes as new insurance claims come in every day in the wake of Hurricane Ian.

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“Public adjusters come into the market and there’s good public adjusters and there’s bad public adjusters,” Patronis said.

He said his plan will hopefully weed out bad public adjusters because it will reduce the amount they’re entitled to immediately following a storm by creating a schedule of how Florida residents’ payments will be laid out.

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The plan also calls for an all-out ban on Assignment of Benefits, known as AOBs.

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Patronis is also calling for the addition of a statewide prosecutor whose sole responsibility is to handle property insurance fraud. He is also asking for a $3 million anti-fraud and public education campaign.

The CFO also highlighted the Anti-Fraud Homeowner Squad, which was put into place last year. Since Ian’s impact, Patronis said the squads have already checked in with 7,000 people, contractors, and businesses to check for licensure, follow up on fraud leads and open investigations.

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