The Florida Senate passed a public adjuster reforms bill that will limit the contingency fees charged by adjusters and prohibit intrusive solicitation practices.
Florida Chief Financial Officer Alex Sink and interim Insurance Consumer Advocate Terry Butler applauded the Legislature’s passage of a Senate Bill originally sponsored by State Sen. Mike Fasano, R-New Port Richey and State Rep. Julio Robaina, R-Miami.
The reforms arose out of the task force on Citizens Property Insurance claims handling and resolution, which is managed by the Office of the Insurance Consumer Advocate and chaired by Fasano.
The law also requires a person to work as an apprentice under the supervision of a licensed public adjuster for one year before being eligible to be licensed as a public adjuster.
Sink’s Department of Financial Services licenses and regulates public adjusters, who are retained by policyholders to assist in preparing, filing and adjusting insurance claims.
“These reforms will better protect Floridians who have suffered losses after a hurricane and are trying to rebuild and restore their lives and homes,” said Sink. “I am thankful we were able to increase protections for consumers who need help in the wake of a hurricane.”
Source: Florida Department of Financial Services
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