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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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.

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.

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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.

A bill the Florida insurance industry says will help reign in assignment of benefits abuse that is plaguing the state and raising insurance costs has passed its final committee in the Florida Senate and is now headed to the full Senate floor for debate.

The Florida Senate Rules Committee passed SB 122 on Wednesday, inching AOB reform one step closer to being a reality after seven years of failed attempts by the Florida Legislature.

“Year after year we have watched the AOB crisis negatively impact our consumers – many of which are recovering from hurricanes. Now, more than ever, is the time to pass meaningful reform so we can protect consumers and start recovering from years of compounding abuse,” Florida Insurance Commissioner David Altmaier said in a statement Wednesday. “The advancement of SB 122 is a significant step towards protecting Floridians from future AOB abuse.”

The Senate bill, introduced by Senator Doug Broxson, is now identical to Florida House Bill 7065, which passed that chamber last week.

“This is a great development. For the first time in nearly seven years we are poised for final passage of meaningful AOB reform. The bill will directly address cost drivers that are pushing up rates by reducing AOB abuse and fraud. Florida consumers will benefit, and the insurance market will be healthier as a result,” said Michael Carlson, president of the Personal Insurance Federation of Florida (PIFF).

The bill includes certain consumer protection provisions such as rescission and emergency services sublimit provisions, and creates a new rate filing requirement for Citizens Property Insurance Corp., which has filed rate increases for the last several years that it has largely blamed on AOB.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/04/18/524155.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.

Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to storm risk in areas located away from the coast.

The company said for the first time since 2005, Citizens will purchase traditional reinsurance for its PLA, which is comprised of 301,000 residential policies, most of which are not located along the coast. The reinsurance coverage will reduce Citizens’ PLA surplus exposure from 62 percent to 52 percent in the event of a 1-100 year storm.

Please enjoy the full article below;

https://www.insurancejournal.com/news/southeast/2019/03/28/521996.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.

As lawmakers convene for the Florida Legislature for the 2019 Legislative Session, Sen. Doug Broxson (R-Gulf Breeze), an independent agent and member of the Florida Association of Insurance Agents (FAIA), has introduced a bill supported by the industry to reform a law that is being abused by attorneys and unscrupulous contractors

The current law provides that a policyholder who sues an insurance company for underpaying or denying a claim will not have to pay the insurance company’s attorney fees should the company win.

In theory, it levels the playing field for consumers who don’t have the financial resources to compete with a large insurance company.

In practice, it creates an environment ripe for abuse.

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https://www.insurancejournal.com/news/southeast/2019/03/19/520981.htm