Florida Fines Eight Insurers $2M Over Hurricane Claims Misconduct

Florida insurance regulators have fined eight insurance companies a total of $2.075 million for misconduct in handling claims related to Hurricanes Ian and Idalia. The penalties address issues such as delays in acknowledging claims, improper use of unappointed adjusters, failure to timely deny or pay claims, and not providing required documentation like homeowners claims bill of rights. Insurance Commissioner Mike Yaworsky emphasized that while capital is stabilizing the market, insurers must uphold high standards to ensure consumer confidence. Chief Financial Officer Blaise Ingoglia affirmed the commitment to holding companies accountable to their contractual obligations with policyholders. Additional examinations are ongoing, potentially leading to more fines. Regulators are prepared to actively oversee claims handling during the active 2025 hurricane season to protect Floridians and maintain insurer accountability.