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Please call  Lee from Calle Financial, Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.

A former Miami insurance agent has been arrested for allegedly stealing more than $1.7 million in insurance premiums from two insurance premium finance companies, according a statement from Florida CFO Jimmy Patronis.

Antonio Jesus Zoghbi, owner of Florida Insurance Agency of Miami, is accused of using fraudulent and stolen identities to submit fake premium finance contracts and divert policy funds into his business account.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/07/15/532177.htm

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Please call  Lee from L & S Insurance, Inc. Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.

Lot’s of bills to not only see what passed, but what did not pass, what is pending, what is close & why we have to wait. Please read the full article below & be informed.

https://www.insurancejournal.com/news/southeast/2019/06/27/530569.htm

 

 

Please call  Lee from L & S Insurance, Inc. Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.

Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1.

Florida Governor Ron DeSantis signed House Bill 7065 on Thursday, marking the end to a seven-year battle by the industry and reform advo

The bill’s provisions:

  • Define “assignment agreement” and establishing requirements for the execution, validity, and effect of such an agreement
  • Prohibit certain fees and altering policy provisions related to managed repairs in an assignment agreement
  • Transfer certain pre-lawsuit duties under the insurance contract to the assignee and shifting the burden to the assignee to prove that any failure to carry out such duties has not limited the insurer’s ability to perform under the contract
  • Require each insurer to report specified data on claims paid in the prior year under assignment agreements by Jan. 30, 2022, and each year thereafter
  • Allow an insurer to make available a policy prohibiting assignment, in whole or in part, under certain conditions
  • Revise the state’s one-way attorney fee statute to incorporate an attorney fee structure in determining the fee amount awarded in suits by an assignee against an insurer
  • Require service providers to give an insurer and the consumer prior written notice of at least 10 business days before filing suit on a claim.

The bill also requires savings be passed along to Florida consumers who are covered by Citizens Property Insurance Corp., which has borne the brunt of AOB abuse.

In South Florida in particular, AOB lawsuits have exploded over the last 10 years and Citizens has filed for rate increases to offset litigation costs. It proposed rate increases for 97 percent of its homeowners policyholders for 2019.

cates seeking a solution to escalating abuse of the policyholder benefit.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/05/24/527402.htm

Please call  Lee from L & S Insurance, Inc. Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.

Nine individuals and business owners have been arrested for their alleged involvement in a large-scale organized scheme to defraud insurance companies out of more than $600,000 in fraudulent insurance claims, according to a statement from Florida CFO Jimmy Patronis.

The arrests came after a year-long joint insurance fraud investigation dubbed “Operation Rubicon” that included fraud detectives with the Florida Department of Financial Services, the Miami-Dade Police Department and Miami-Dade State Attorney Katherine Fernandez Rundle’s office.

The joint fraud investigation was initiated after several insurance companies notified authorities of suspected fraudulent residential insurance claims in the South Florida and Tampa areas. Detectives believe that The Rubicon Group, a public adjusting company owned by Barbara Maria Gonzalez, committed organized fraud and grand theft.

Gonzalez allegedly utilized the services of unscrupulous Florida companies, including water mitigation and restoration companies, insurance agencies and agents, appraisers, and willing homeowners to allegedly commit the fraud, DFS said. The investigation remains open and ongoing and more arrests are expected.

Patronis joined Rundle and Miami-Dade Police Department Director Juan J. Perez to announce the arrests at a press conference on Tuesday.

“Today, we arrested nine individuals who are the ringleaders of an elaborate fraud scheme, with more arrests to come,” Patronis said.

Those arrested include:

  • Barbara Maria Gonzalez
  • Rafael Exposito
  • Rigoberto Lopez
  • Ricardo Alvarez
  • Jose Gonzalez
  • Romy Valdespino Rodriguez
  • Alessandra Kruger
  • Alicia Pardey
  • Ricardo Tello

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/05/02/525286.htm

Please call  Lee from L & S Insurance, Inc. Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.

The insurance industry and consumers advocates say the abuse has caused higher insurance premiums in the state and made insurance harder to obtain.

The bill’s provisions:

  • Define “assignment agreement” and establishing requirements for the execution, validity, and effect of such an agreement
  • Prohibit certain fees and altering policy provisions related to managed repairs in an assignment agreement
  • Transfer certain pre-lawsuit duties under the insurance contract to the assignee and shifting the burden to the assignee to prove that any failure to carry out such duties has not limited the insurer’s ability to perform under the contract
  • Require each insurer to report specified data on claims paid in the prior year under assignment agreements by January 30, 2022, and each year thereafter
  • Allow an insurer to make available a policy prohibiting assignment, in whole or in part, under certain conditions
  • Revise the state’s one-way attorney fee statute to incorporate an attorney fee structure in determining the fee amount awarded in suits by an assignee against an insurer
  • Require service providers to give an insurer and the consumer prior written notice of at least 10 business days before filing suit on a claim.

The Senate bill was sponsored by Senator Doug Broxson, chair of the Banking & Insurance Committee.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/04/24/524700.htm

Please call  Lee from L & S Insurance, Inc. Your Insurance Consultant  about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business  & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them,

For the seventh year in a row, the Florida insurance industry, regulators, and consumer advocates will push for reforms to the state’s assignment of benefits issue that has now become an insurance crisis, according to a report from the Insurance Information Institute (I.I.I.)

“[Florida’s] legal environment has encouraged vendors and their attorneys to solicit unwarranted AOBs from tens of thousands of Floridians, conduct unnecessary or unnecessarily expensive work, then file tens of thousands of lawsuits against insurance companies that deny or dispute the claims,” the report says of the misuse of the policyholder protection known as AOB.

Michael Carlson, president of the Personal Insurance Federation of Florida, said the I.I.I. study underscores the global problem with AOBs in Florida, and highlights the “pernicious effects of our one-way fee law on our justice and insurance systems.”

“It is well past time for the [Florida] Legislature to fix this problem,” he said, noting a bill addressing attorney fees – Senate Bill 122 – has already been filed for 2019 Florida Legislative Session, which begins in March.

With rates rising and insurers pulling back in parts of the state where the abuse is most rampant, such as in South Florida, insurance leaders say the crisis must be addressed.

“The key issue at OIR [Office of Insurance Regulation] is the issue of AOB,” Florida Insurance Commissioner David Altmaier told attendees at the Florida Chamber of Commerce’s annual Insurance Summit in November. “It is an excessive litigation issue driven primarily by a loophole in the attorney fee statute … [it] is being used to the detriment of consumers.”

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/01/29/515957.htm

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Total estimated insured losses from Hurricane Michael have reached more than $2.1 billion, according to the most recent data from the Florida Office of Insurance Regulation.

The current number of claims from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, had reached 110,183 with 26.1 percent of that total number of claims closed as of Oct. 30, 2018. OIR compiled aggregate information from claims data filed by insurers covering all claims based on filings received.

The lines of business included in the total number of claims are residential property, commercial property, private flood, business interruption and miscellaneous other lines.

Residential property losses account for the majority of the total claims at 78,045 – 57,088 of that number is homeowners claims. Only 20.7 percent of residential property claims were closed as of Oct. 30.

The percentage of commercial property claims closed was lower at 10.3 percent of the 4,471 claims received. Only 460 business interruption claims had been filed so far, with 9.1 percent of those closed to date.

Just 64 flood claims had been filed as of Oct. 30, with 37.5 percent of those claims already closed.

The Florida Department of Financial Services said in a statement Wednesday that Citizens Property Insurance Corp., the state insurer of last resort, had 3,231 claims as of Oct. 29.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2018/11/01/506263.htm

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