Florida CFO Jimmy Patronis Announced Consumer Protection Bill

TALLAHASSEE, Florida, Jan. 29 -- The Florida Department of Financial Services issued the following news release on Jan. 28:

At a press conference, Florida Chief Financial Officer (CFO) Jimmy Patronis, joined by Senator Tom Wright and Representative Chuck Clemons, highlighted proposed legislation (Senate Bill 1492 and House Bill 1137) aimed at protecting Floridians, especially following a disaster.

CFO and State Fire Marshal Jimmy Patronis said, "Today, the Consumer Protection Act passed it's first round of committee meetings. With this bill we are sending a message to insurance companies that if you're going to operate in the state of Florida, you must do what's right by your customers. No longer should claims handling issues create delays as storm victims rebuild their homes and lives. I shouldn't have to step in to make sure insurance companies are doing what they should be doing for their customers. Let me be clear: this bill is not a silver bullet; but, it is an important step toward fixing the insurance problems that have plagued Floridians.

"Thank you to our bill sponsors Chair Tom Wright and Chair Chuck Clemons for their support in this vital legislation. I look forward to working with each of them to strengthen enforcement of the law requiring companies to pay claims in 90 days and make certain these laws work for Floridians and not insurance companies. The Consumer Protection Act will help us build a better, stronger Florida."

Consumer Protection Act

* Gives consumers more time to get out of public adjuster contracts in times of disaster.

* Ensures that Floridians have information about their insurance coverage before hurricane season starts.

* Requires all insurance companies to settle claims in 90 days.

* Provides fraud protections by cracking down on unlicensed insurance agents and stopping companies from using the term Medicare in there name.

* Requires insurance companies to communicate with consumers more effectively when they send a partial payment or initial estimate.

* Rids fees on Floridians who are trying to take charge of their credit and protects Floridians from being taxed when their insurance company goes under.

* * *

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).