Volume 1 Number 3
January 19, 2004
















NASAA Fraud Center





resolve to get an annual checkup 

With the new year, many of us have resolved to eat healthier, exercise more or lose weight. I encourage you to do one more healthy thing  resolve to get an insurance checkup.

This is Get Smart About Insurance Week. Consider making an appointment with your agent to go over your home, life, auto and property insurance coverage. Just like a physical checkup, an annual insurance checkup will protect your family’s financial health and give you peace of mind. Knowledge is your best policy.

A survey by the National Association of Insurance Commissioners indicates that while more than half of Americans feel they have enough coverage that less than one-third believe they understand their policies.

Hurricane season is less than six months away. A disaster is the worst time to find out you don’t have as much coverage as you thought or that you will be responsible for a higher deductible than you have budgeted for. 

Most importantly, read your policy carefully, keeping in mind it is a legal document, and ask questions. 

If your agent can’t answer all of your questions, call the Department of Financial Services at 1-800-342-2762. Or, visit the department’s web site at www.MyFloridaCFO.com, where you can click on the Get Smart About Insurance Week icon and test your insurance knowledge.

Good luck with those resolutions!                



TALLAHASSEE – “Get Smart About Insurance Week” kicks off today, and Chief Financial Officer Tom Gallagher is urging Floridians to review their home, life, auto and property insurance coverage.

While an insurance checkup may reveal you have inadequate coverage, Gallagher said it also could show that you are paying for more than you need. He offered these tips: CONTINUED


Governor Jeb Bush applauded the focused work of the Scripps Florida Funding Corporation as it culminated its fourth meeting by approving and signing a Funding and Program Agreement with the Governor's Office of Tourism, Trade, and Economic Development (OTTED). Mandated under Florida Statute, this agreement was negotiated by the two entities during the past month in consultation with the Department of Financial Services to ensure public accountability.  Now signed, the agreement allows for the $310 million of federal funds appropriated to OTTED to be released to the corporation and provides strong accountability for proper disbursement and oversight of these funds.   CONTINUED


  FOR IN 2004

Florida’s Chief Financial Officer Tom Gallagher and Don Saxon, Director of the Office of Financial Regulation, warned that investors will be challenged with increasingly complex and confusing investment frauds in 2004.  New to this year’s list of Top 10 schemes that investors are likely to see are mutual fund practices, senior investment fraud, and variable annuities scams. 

“Our fight against fraud never stops because each year con artists discover new ways to cheat consumers out of their hard-earned savings,” Gallagher said.  “Education and awareness are an investor’s best defense against fraud.”  CONTINUED