Florida CFO Wants More Answers About Property Rates
Florida Chief Financial Officer Jeff Atwater is still unsatisfied about property insurance rates and wants more information about why rates aren’t dropping in the Sunshine State.
This is the second time this year that Atwater has demanded answers from state regulators about why rates aren’t going down even though one of the main costs for insurers is declining.
Atwater is one of the state officials with the power to hire and fire the state’s insurance commissioner.
He sent a letter Tuesday to Insurance Commissioner Kevin McCarty asking for a detailed analysis on how much money insurers are saving on reinsurance and whether or not those savings are being passed on to consumers.
McCarty’s office said an analysis was already underway and that it will be finished by December.
- South Carolina Allows Out-of-State Adjusters After Massive Hail Storm
- Beyond the Claim: How Social Canvassing is Transforming Insurance Fraud Detection
- Report: Claims Handlers Embracing Technology
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road