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CFO Jimmy Patronis: More Than One Month After Michael, Insurers Must Step It Up

11/20/2018

For Immediate Release: Tuesday, November 20, 2018
Contact: Communications@myfloridacfo.com, 850.413.2842
 
CFO Jimmy Patronis: More Than One Month After Michael, Insurers Must Step It Up
 
TALLAHASSEE, Fla. – Florida Chief Financial Officer (CFO) Jimmy Patronis and Insurance Commissioner David Altmaier spoke with insurance company executives today and called on the industry to step up more to aid in Hurricane Michael recovery.
 
CFO Jimmy Patronis said, “Before Hurricane Michael hit, I put Florida’s insurance industry on notice that I expected they would move quickly to help residents recover. Unfortunately, this hasn’t been the case all around. My office has noticed several alarming trends since the storm made landfall including delays in processing claims. What is even more troubling is that 13 percent of complaints to my office were related to claim denials.
 
“To put this into perspective: Hurricane Irma touched almost every county in our state, impacting millions. Thirty days after Irma, we had approximately 200 consumer complaints. Hurricane Michael impacted 12 counties. Thirty days later, we have received more than 100 consumer complaints. There is no reason that we should have this many complaints for an impacted area that is a small fraction of Irma’s. It’s completely unacceptable.
 
“My expectations have not changed. In fact, they are even higher. I expect insurers will step it up so that families and businesses can get back to normal. If insurers don’t step up, not only will recovery be delayed but consumers will be even more vulnerable to fraud.”
 
Commissioner David Altmaier said, “To be clear; all insurance-related needs held by impacted consumers must be addressed swiftly and without delay. My office continues to work alongside CFO Patronis and the Department of Financial Services to monitor the progress of the post-storm response and we’ll continue doing so to ensure residents impacted by Hurricane Michael are protected throughout their path to recovery. Insurance companies must fulfill the promises they’ve made to their policyholders.”
 
More than 40 company representatives participated in today’s call. Consumers who have questions about policy coverages or need help filing a claim can call CFO Patronis’ free Insurance Consumer Helpline at 1-877-MY-FL-CFO (693-5236).
 
Hurricane Michael Data

-As of November 19, there were 125,356 insurance claims made totaling an estimated $3.4 billion ($3,430,014,424).
 
-As of November 14, Citizens Property Insurance Corporation had 3,189 claims estimated at $142 million. 
 
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a  member of Florida’s Cabinet, who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).