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Gallagher Applauds Agreement to Pay Millions to Hurricane Victims

10/12/2005

CONTACT:
Tami Torres or Bob Lotane
(850) 413-2842 or (850) 528-2868 

TALLAHASSEE – Tom Gallagher, Florida's Chief Financial Officer, today applauded the agreement between Nationwide Insurance Company and the Office of Insurance Regulation to correct millions in underpayment of insurance claims resulting from the 2004 hurricanes.  Gallagher's Department of Financial Services compiled the complaint files and hurricane deductible information used in the investigation and audits.
 
"I congratulate the insurance commissioner for reaching this agreement with Nationwide," said Gallagher.  "The level of complaints my office received from Floridians definitely indicated that consumers were not being treated fairly.  This agreement should go a long way toward making the consumers whole."
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Tom Gallagher oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. Gallagher also serves as the State Fire Marshal.