Video above: ‘Broke’ insurance coverage corporations moved cash, report finds
TAMPA, Fla. (WFLA) — Florida insurance coverage regulators fined a property insurance coverage firm $100,000 for its mishandling of claims within the wake of Hurricane Ian in 2022.
In response to a consent order doc supplied by the Florida Workplace of Insurance coverage Regulation, Centauri Specialty Insurance coverage Firm did not make the most of correctly appointed adjusters and supply a disclosure assertion when offering funds on claims that weren’t the total and remaining cost.
Insurance coverage regulators pointed to 168 situations the place the corporate used insurance coverage adjusters who weren’t correctly appointed. Florida legislation requires them to be licensed and appointed.
The workplace mentioned that Centauri “didn’t present the actual disclosure assertion when offering a cost on a declare that was not the total and remaining cost in 141 situations.”
Centauri was fined $100,000, plus $2,000 in administrative prices. As a part of the settlement, the corporate acknowledged it may face administrative penalties if caught violating the phrases of the consent order sooner or later.
