APCIA: Florida Has Taken Significant Steps to Strengthen Consumer Protections & Insurer Accountability Following Hurricane Ian

CHICAGO - The American Property Casualty Insurance Association (APCIA) today issued the following statement, attributed to its president and chief executive officer David A. Sampson, in response to a report on CBS News' 60 Minutes.

"In response to concerns of Hurricane Ian-related claims handling issues that were first reported in March 2023, the Florida Legislature and the Florida Office of Insurance Regulation (FOIR) have taken significant steps to increase consumer protections and insurer accountability. APCIA and the whole insurance industry supported these reforms. Bad actors in the industry should be held accountable.

"Working with the industry, the Florida Legislature implemented reforms in 2023 to help further protect consumers during the claims process, including prohibiting the altering or amending of an adjuster's report without a detailed explanation. The reforms also increased the fines and penalties that FOIR can impose on insurers. FOIR used its authority to penalize the specific company referenced in the report with steep fines. Across the country, APCIA fully supports the important role that state regulators play in the health of state insurance marketplaces by monitoring market conduct and solvency, the twin pillars of state regulation.

"The insurance industry's overwhelming priority when disaster strikes is to help customers rebuild their lives and restore their property. Insurers provided more than $21 billion in estimated and paid losses for Hurricane Ian-related claims in Florida. The insurance industry continues to work steadfastly to fairly serve their policyholders in their greatest hour of need after natural disasters and help get families, businesses, and communities on the road to recovery."