The Florida Department of Insurance has mismanaged the Department since their term began. During the last two hurricanes in Florida, Citizens underpaid many claims and forced the insureds to engage Public Adjusters to negotiate equitable settlements on their behalf. Now the State of Florida must float a bond issue in the amount of almost 1 BILLION DOLLARS to pay for the underpayments to the residents of florida.

So, whom should the DOI blame, well of course, the Public Adjusters. The Florida legislators have introduced an amendment to Section 626, to make it almost impossible for Florida Property Owners to engage the services of a Public Adjuster to protect their interests. The DOI has also allowed the insurers to remove the appraisal provision of the homeowners policies to force the insureds to engage attorneys, many of whom are legislators, who fees are well in excess of the Public Adjusters fees. And finally, the DOI has allowed the insurers to exclude hidden damage losses unless they can discover them within 8 days!

Thank you Steve!

So who should the DOI blame? Of course the PUBLIC ADJUSTERS, who else?

So, Michael Bennett and Janet C. Long, Florida legislators have introduced an amendment to Section 626, to make it almost impossible for the residents of the State of Florida to avail themselves of the services of Public Adjusters.

The Florida DOI has also allowed Citizens and all other property insurers to remove the Appraisal Provision of the homeowners policies which allowed insureds to be properly indemnified for their losses. Now the insureds will have to engage Florida Attorneys, many of whom are Florida Legislators, to recover their damages, at a cost well in excess of the fees normally charged by Public Adjusters.

And finally, the Florida DOI has allowed the insurers to exclude coverage for hidden damages unless the property owner discovers the hidden damges (i.e. a pin hole leak in a plumbing line in a wall) within 8 days!

Recent reports show that Citizens is now charging consumers for storms dating back several years. Because Citizens sets a price that cannot pay consumers back, they lose money and drive all of the other players out of the market. However, Citizens simply charges assessments to consumers and makes up the difference. There is no competition in that.

Let’s say you sell new automobiles and they cost $15,000. Now a state-run company (like Citizens) enters the market and sells the same cars for $10,000. What will happen? First, you won’t sell cars and will be soon be out of business. And second, the state-run company has lost a lot of money, so it levels assessments on its consumers to make up the difference. Where is there competition.?

I suggest you reread the piece, you seemed to have missed most of it.