US EditionMike Yaworsky Fines 8 Insurance Companies for 'Misconduct' During Recent Hurricanes
Florida's Office of Insurance Regulation fined eight insurers a total of $2.075 million for claim mishandling during Hurricanes Ian and Idalia, with ongoing investigations continuing.
- On Tuesday, Florida Insurance Commissioner Mike Yaworsky ordered $2,075,000 in penalties against eight insurers for misconduct tied to Hurricanes Ian and Idalia after market conduct examinations by the Florida Office of Insurance Regulation found claims-handling failures.
- OIR's market conduct reviews found compliance lapses in eight of ten companies, including unappointed adjusters, delayed claim acknowledgements, and missed 90-day pay-or-deny deadlines.
- The OIR release detailed fines: Clear Blue, American Coastal, American Mobile at $400,000 each; Monarch $325,000; Tower Hill $250,000; TypTap $150,000; Centauri $100,000; Sutton $50,000; and cited claim failures.
- OIR noted its recent enforcement results, stating its Market Conduct Unit secured more than $8 million in restitution and issued over $2.8 million in fines, with two additional companies under review and examiners ready to deploy during storms.
- With the 2025 Atlantic Hurricane Season nearing its peak, Commissioner Mike Yaworsky pledged close scrutiny and said fines won't raise Florida policyholders' rates, while CFO Blaise Ingoglia said, `As your Chief Financial Officer, I promised to work with OIR to hold insurance companies accountable if they do not uphold the contractual agreement that they sign with their policyholders`.
15 Articles
15 Articles
OIR Fines Eight Insurers $2.1M After Ian, Idalia Claims Handling Lapses
Florida Insurance Commissioner Mike Yaworsky has ordered $2.1 million in penalties against eight insurers for misconduct tied to claims handling after Hurricanes Ian and Idalia, citing failures ranging from late responses to policyholders to improperly appointed adjusters. The Office of Insurance Regulation said the fines follow market conduct examinations of 10 companies, eight of which were found to have compliance lapses. Two additional revie…
Sun-Sentinel
Orlando SentinelEight home insurers fined total of $2.1 million for violations after hurricanes Ian and Idalia
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Mike Yaworsky fines 8 insurance companies for 'misconduct' during recent hurricanes
Insurance Commissioner Mike Yaworsky is issuing fines against eight insurance carriers for what is being described as “misconduct” during recent hurricanes in the state. Yaworsky said he is instituting $2.075 million in penalties against the companies for their handling of property damage claims from Hurricane Ian, which struck the state near Cayo Costa in September 2022, and Hurricane Idalia, which hit the Big Bend area of the state in August 2…
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