Insurance Insights - March 2018

CFO Jimmy Patronis Doubles Down on
Consumer Protection Efforts Recovering
More Than $23 Million for Floridians

Highlighting National Consumer Protection Week, Florida's Chief Financial Officer Jimmy Patronis announced since July 1, 2017, his Division of Consumer Services has helped more than 2,761 consumers recover millions from insurance, financial, and other companies. Recoveries included insurance claim payments and premium refunds that consumers turned to the Department of Financial Services for help.

CFO Jimmy Patronis stated, "We've worked diligently to recover nearly $23.4 million for Florida consumers, with $8.4 million of those dollars directly related to Hurricane Irma. More than 40 counties in Florida were affected by this year's active hurricane season, and my office worked tirelessly to serve as a one stop shop for consumers who needed assistance resolving their insurance questions or complaints.

Declaración del Oficial Principal de Finanzas Jimmy Patronis sobre el apoyo asombroso respecto de eliminar los Cargos por Congelación de Informes de Crédito

Chief Financial Officer (CFO) Jimmy Patronis issued the following statement regarding the unanimous passage of one of his top priorities, House Bill 953, eliminating the fee imposed on Floridians to freeze their credit. The bill will now be ready to head to Governor Rick Scott for signature. Image result for credit freeze

"Recent reports indicate that Florida is the top state in the nation for Consumer fraud, and ranks second for identity theft reports in 2017. We know one of the best ways to protect yourself from fraud is to freeze your credit. Today’s unanimous vote comes in the midst of National Consumer Protection Week and I’m proud Floridians will be able to more easily protect themselves from fraud.

El Oficial Principal de Finanzas y Jefe de Bomberos del Estado Jimmy Patronis Honra al Jefe de Bomberos de Coral Springs Parkland y Otros Ganadores del los Premios para el Servicio de Bomberos 2018 en el Día de Reconocimiento al Bombero

Chief Financial Officer (CFO) and State Fire Marshal Jimmy Patronis recognized 13 award winners of the 2018 Fire Service Awards, including Coral Springs Parkland Fire Chief Frank Babinec as Fire Chief of the Year, at a meeting of the Florida Governor and Cabinet.

Prior to the meeting, CFO Patronis was joined by Governor Rick Scott, Attorney General Pam Bondi, Agriculture Commissioner Adam Putnam and members of Florida's fire service community during the annual Ringing of the Bell ceremony; a ceremonial Image result for firefighter appreciation day 2018 marking of Florida's fallen firefighters. This year, James F. Dorminy with the Reedy Creek Fire Department and Joseph T. DeMarinis with the Clermont Fire Department were honored as Florida’s two line of duty deaths in 2017.

Florida’s fire service professionals are committed to keeping our communities safe from an ever-evolving environment of risk and danger. That risk includes tragedies they experience on a daily basis," said CFO Jimmy Patronis. "Just two days ago, the legislature passed a measure that would increase access to mental health benefits for first responders suffering from PTSD.

Chief Financial Officer Jimmy Patronis: Unanimous Support for First Responders, Consumers, and Florida's Military Community

El Oficial Principal de Finanzas y Jefe de Bomberos del Estado de la Florida Jimmy Patronis hoy felicitó a la legislatura de la Florida por el apoyo unánime de sus prioridades legislativas de 2018, que incluyen la lucha por los equipos de primera respuesta, la protección de los consumidores del fraude, la transformación de la Florida en un estado más elegido por los militares y la optimización y modernización del gobierno.

CFO and State Fire Marshal Jimmy Patronis stated, "After hearing from our first responder community, we fought hard so that they can now have access to mental health benefits. When the Equifax data breach impacted millions, we made it easier for Floridians to protect themselves from fraud. My mission is to make Florida an even better place to live, work, and raise a family. Laws on the books should work for our residents, not against them."

Key reforms advocated by CFO Patronis included the following:

Fighting for Our
First Responders
Senate Bill 376: CFO Patronis’ top priority was to increase access to mental health benefits for Florida’s first responders. This legislation allows first responders to file a workers’ compensation claim for a mental injury without an accompanying physical injury.

Protecting Florida Consumers from Fraud
House Bill 953: CFO Patronis fought to make it easier for Floridians to protect themselves from fraud. This legislation eliminates the fee that credit reporting agencies were allowed to charge for Floridians to freeze their credit.

Making Florida More Military Friendly
House Bill 29: CFO Patronis worked to make it easier for members of the U.S. Armed Forces, their spouses and honorably discharged veterans to take charge of their economic futures by removing certain licensing and training fees for the Division of Funeral, Cemetery and Consumer Services, the Division of Insurance Agent and Agency Services, and the Division of State Fire Marshal.

Streamlining Government
House Bill 1073: CFO Patronis worked to modernize the Department of Financial Services (DFS) and better protect Florida consumers. This legislation includes streamlining the appointment process for non-resident adjusters and providing a pathway for better communication between local governments and DFS. Additionally, the bill reduces regulatory costs for licensees.

Returning Every Cent
of Unclaimed Property
House Bill 1361: CFO Patronis' mission is to return unclaimed property back to its rightful owners, but it can be difficult if account information submitted is incomplete. This legislation includes uniform standards for account information provided to CFO Patronis' Division of Unclaimed Property from local Clerks of Court.

CFO Jimmy Patronis Releases Top 7 Tips to Boost Financial Education during Financial Literacy Month

Data breaches at major companies like Equifax, Target, Uber, and most recently Saks Fifth Avenue, Lord &Taylor and Under Armour's MyFitnessPal app will continue to happen and Florida's Chief Financial Officer (CFO) wants to ensure Floridians take steps to protect themselves from fraud and safeguard their finances. One of the top ways to protect yourself from fraud is to freeze your credit, and CFO Patronis successfully eliminated the fee imposed to do so during the 2018 Legislative Session. Knowing how to protect your finances is equally as important as knowing how to manage your finances and with Financial Literacy Month recognized in April, CFO Patronis released his top 7 easy tips to strengthen and protect your financial future.

El Oficial Principal de Finanzas Jimmy Patronis Anuncia Devoluciones Récord de Propiedad No Reclamada

Chief Financial Officer Jimmy Patronis announced that his Division of Unclaimed Property has set a new monthly record of unclaimed property returns in the program's 57-year history. During the month of February, the Division's total returns were valued at $37,885,255, exceeding the previous monthly record of $35,956,507 which was set in treasure hunt Octubre de 2016

"I'm proud to announce that in February, our proactive efforts resulted in a record-breaking month of unclaimed property returns," said CFO Jimmy Patronis. "More than $37 million are back in the hands of their rightful owners and we'll continue to turn up our outreach efforts to return even more."