Floridas Insurance Commissioner says claims solicitation is raising the cost of Floridas property insurance industry for both consumer and provider. David Altmier told a Senate panel Tuesday that rates for property owners will continue to rise unless something is done.LitigationPropertyLegislation & Regulation
David Altmaier, head of the Office of Regulation, used a graph to show lawmakers the losses insurance companies took in 2020.
“Thats almost a billion dollars, little over a billion dollars in underwriting losses for Floridas domestic industry through the first three quarters of 2020," said Altmaier. "So thats not even a full year yet and weve almost doubled the underwriting losses from last year.”
Altmaier says while lawsuits are a main drivera growing issue is roofing claims.
"You might have heard a lot about roofing claims that are going on in our state with particularly the solo counties that I reference moments ago. These dont appear to be normal roofing claims in which a consumer notices that theyve had a loss and calls their insurance company, but instead solicitations," said Altmaier.