Claims Solicitation Raising Florida Insurance Rates (WJCT)

Claims Solicitation Raising Florida Insurance Rates

  Wednesday, January 13th, 2021 Source: WJCT

Florida’s Insurance Commissioner says claims solicitation is raising the cost of Florida’s 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.

David Altmaier, head of the Office of Regulation, used a graph to show lawmakers the losses insurance companies took in 2020.

“That’s almost a billion dollars, little over a billion dollars in underwriting losses for Florida’s domestic industry through the first three quarters of 2020," said Altmaier. "So that’s not even a full year yet and we’ve almost doubled the underwriting losses from last year.”

Altmaier says while lawsuits are a main driver—a 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 don’t appear to be normal roofing claims in which a consumer notices that they’ve had a loss and calls their insurance company, but instead solicitations," said Altmaier.

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