Florida CFO Helps Customers Recover $22 Million from Insurers

The Department of Financial Services helped recover over $22 million for Florida’s insurance consumers in 2009, according to officials.

The $22 million represents an increase from $14 million recovered in 2008.

Florida CFO Alex Sink said one recent success story was the recovery of more than $516,000 for 998 customers of Household Finance Co. The department was tipped off by an Orlando resident who discovered monthly premiums of $4.93 being deducted from her account two years after her policy expired.

A $60,000 recovery occurred after a Sarasota resident was sold an annuity that did not meet the requirements he set.

Richard Foster of Temple Terrace, who was frustrated because he could not get a call back from his insurance company regarding a claim, was able to recover $12,160 within days after calling the department’s insurance consumer helpline, according to Sink.

Latest Comments

• January 11, 2010 at 7:58 am

  Steve says:

  Okay. Then why not provide a list of all the defunct homeowners insurers who should have never been licensed to write policies in the state to begin with? Shouldn't she take... read more
• January 9, 2010 at 9:45 am

  SWFL Agent says:

  Agree, it does have a political spin but Alex Cink seems to be the only one in Tallahassee with any sense. The public needs to find out somehow. They certainly won't seek it o... read more
• January 8, 2010 at 3:36 am

  Advisor says:

  I really don't have a problem with it. Not rooting for Sink or anyone else, but if they didn't announce these things publicly no one would ever know anything was being done. ... read more