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Florida Slaps Property Insurance Company With $100k Fine Over Hurricane Ian Claims

Video above: 'Broke' insurance companies moved money, report finds

TAMPA, Fla. (WFLA) -- Florida insurance regulators fined a property insurance company $100,000 for its mishandling of claims in the wake of Hurricane Ian in 2022.

According to a consent order document provided by the Florida Office of Insurance Regulation, Centauri Specialty Insurance Company failed to utilize properly appointed adjusters and provide a disclosure statement when providing payments on claims that were not the full and final payment.

Insurance regulators pointed to 168 instances where the company used insurance adjusters who were not properly appointed. Florida law requires them to be licensed and appointed.

The office said that Centauri "did not provide the particular disclosure statement when providing a payment on a claim that was not the full and final payment in 141 instances."

Centauri was fined $100,000, plus $2,000 in administrative costs. As part of the agreement, the company acknowledged it could face administrative penalties if caught violating the terms of the consent order in the future.

The post Florida slaps property insurance company with $100K fine over Hurricane Ian claims appeared first on Insurance News | InsuranceNewsNet.

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Florida Slaps Property Insurance Company With $100k Fine Over Hurricane Ian Claims

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