Florida Insurance Commissioner Mike Yaworsky announced $2.075 million in fines against eight insurance companies for mishandling property damage claims after Hurricane Ian (September 2022) and Hurricane Idalia (August 2023).
Yaworsky said the companies used improperly appointed adjusters, failed to acknowledge or respond promptly to claims, did not provide homeowners with required claims bill of rights, and in some cases, failed to pay interest owed. Two other companies remain under investigation.
“Consumers must trust they are getting what they pay for,” Yaworsky said. “While we want insurers to succeed, they must meet the standards to operate in Florida.”
Fines by company:
- American Coastal Insurance Co.: $400,000
- American Mobile Insurance Exchange: $400,000
- Centauri Specialty Insurance Co.: $100,000
- Clear Blue Insurance Co.: $400,000
- Monarch National Insurance Co.: $325,000
- Sutton National Insurance Co.: $50,000
- Tower Hill Prime Insurance Co.: $250,000
- TypTap Insurance Co.: $150,000
Florida CFO Blaise Ingoglia added, “These fines show we are committed to holding insurers accountable. With hurricane season approaching, it is critical that companies keep their promises to policyholders.”
As Public Adjusters, we are not surprised by these findings as we see this every day, which is why we fight for you, the insured. This exposure and transparency highlight the ongoing need for strict oversight.
While these fines are a drop in the bucket for these insurance companies, by making their practices visible, it ensures consumer protection and insurers know they cannot neglect their responsibilities in the aftermath of a storm.
If you’ve suffered a property loss and your claim was denied or underpaid, contact Claims Aid Consultants Public Adjusters for a free, no-obligation claim review throughout the State of Florida. We ONLY work for you, not the insurance company.
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Call (772) 249-7988 or (954) 48-CLAIM
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