Merlin Law Group is devoted to not only helping policyholder navigate the sometimes complex legal system, but we also put forth legislation that will protect policyholders from having to be involved in litigation in the first place.
The Committee created a list of key considerations to improve that State’s response to hurricane threats. The list covered issues from Public Safety to effective Evacuation procedures to Reconstruction. Specifically, the Select Committee identified these six issues to be considering on the topic of Insurance and Banking:
- Examine insurance solvency by reviewing reserve and reinsurance levels for the Hurricane Catastrophe Fund (CAT fund), Citizens Property Insurance, and insurance carriers in Florida.
- Examine Florida property insurance claims exposure by region and coverage.
- Review access to sufficient insurance adjusters and alternatives to ensure rapid adjusting of claims.
- Review potential alternatives to help policyholders finance insurance deductibles over longer time periods.
- Consider requiring all property and casualty insurance companies licensed in Florida to report any instances of suspected price gouging by independent adjusters and to report any suspected violations of Florida’s insurance codes, including activity by unlicensed adjusters.
- Consider authorizing the Commissioner of the OFR to permit banks and credit unions to change their main office locations or establish additional branches in declared disaster areas for a specified period of time.
Merlin Law Group is dedicated to helping policyholders protect themselves in complex legal battles as well as fighting for the best possible laws to protect the insured nationwide.