FOR IMMEDIATE RELEASE
TALLAHASSEE, Fla. (April 29, 2016) – The Personal Insurance Federation of Florida (PIFF) said today it looked forward to working with the state’s newly named insurance commissioner, David Altmaier, to improve personal insurance products for all Floridians.
“The Personal Insurance Federation of Florida is committed to working with the new commissioner to increase the health and stability of the property and casualty insurance market in Florida,’’ said PIFF Executive Director Michael Carlson. “In particular, we welcome the chance to bring ideas to the commissioner to help increase competition and consumer options in the personal lines markets.’’
PIFF praised Altmaier’s recognition that the dramatic increase in non-catastrophe water damage claims has become a concern for Florida’s property insurance market that must be addressed. During his interview with Cabinet members, Altmaier said Assignment of Benefits has created a mechanism for some to take advantage of the system and should be reconsidered to eliminate opportunities for abuse while still doing what AOB was intended to do, which is to allow consumers to have their insurance claims processed quickly.
“Florida needs a vibrant market for auto and homeowners insurance, but we must be mindful of the risks associated with fraud, abuse, and Mother Nature,’’ Carlson said. “We look forward to working collaboratively with the new insurance commissioner and the Office of Insurance Regulation to address these risks.’’
PIFF also thanked outgoing Insurance Commissioner Kevin McCarty for his years of service toward the health and stability of Florida’s insurance market.
A trade association representing Allstate, Castle Key, Progressive and State Farm insurance companies in Florida, PIFF is devoted to creating a dynamic, efficient and competitive marketplace for personal insurance products. Its members write nearly half of all auto policies in Florida and about 20 percent of all homeowner policies.