Friday, July 20, 2018
Business

Florida's office of insurance regulation issues emergency order

David Altmaier, commissioner of the Florida Office of Insurance Regulation, issued an emergency order Wednesday that protects policyholders from abuse by their insurance companies in the aftermath of Hurricane Irma.

"Given the strength and size of Hurricane Irma, its catastrophic effect on Florida, stretching from coast to coast and its potential impact on hundreds of thousands of policyholders, the office expects all insurers and regulated entities to implement processes and procedures to facilitate the efficient payment of claims," the order said.

The order allows policyholders an extra 90 days to give information to their insurance company, bans raising rates on policyholders for 90 days and bars insurance companies from canceling or not renewing policies related to homes damaged by the storm for 90 days.

Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo on Twitter.

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