The property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000, are taken care of.

Florida insurers are facing new scrutiny and new reporting requirements, after the state Legislature this year approved the Insurer Accountability Act. The law was passed after three independent adjusters charged that several carriers and their claims firms had inappropriately altered damage estimates from Hurricane Ian and other storms. Insurers are now required to abide by industry best practices and follow their own claims handling manuals.

Insurance agents in Florida’s Big Bend area, the hardest-hit region, are applauding those efforts, urging carriers to remember the small-town homeowners and businesses that were damaged by the storm.

“It couldn’t have hit in a better spot as far as industry losses are concerned. But there’s still a lot of significant damage here in Taylor and Madison counties,” said Jeffrey Rush, a commercial lines agent in Live Oak, Florida, with the George Odiorne Insurance Agency.

“The coast got beat up pretty bad, Horseshoe Beach and Suwannee, especially,” said Todd Bryant, senior vice president at Nature Coast Insurance, an agency with three offices in the area.

Idalia may not be a storm for the ages, but state officials said they were taking it seriously. Florida Insurance Commissioner Michael Yaworsky on Friday issued an emergency order, giving insureds a two months’ grace period on policy cancellations and nonrenewal. All cancellation notices mailed in the 10 days preceding Sept. 1 must be withdrawn and reissued after Oct. 31, the order states.

“In the coming weeks, OIR will work in overdrive to both support policyholders in impacted areas and continue our efforts to promote a robust insurance market for consumers,” Yaworsky said in a statement Friday.

IF YOU ARE A VICTIM OF HURRICANE IDALIA,

CALL THE CONSUMER LAW OFFICE (CLO) TODAY 305-940-0924. 

ASK FOR ATTORNEY MORDECHAI BREIER, FOUNDER OF CLO

& GET YOUR FREE PROPERTY DAMAGE ASSESSMENT AND CONSULTATION!

 

CLO knows how stressful it is to be forced out of your home after disaster strikes. The experienced Florida Property Damage Attorneys at CLO will help you receive the maximum property damage compensation you are entitled to under your insurance policy, including alternate living, travel & food reimbursement.

 

Your insurance company hires experts to protect their interests.

Your representation should be no different.

There are NO upfront fees, and we only get paid when you get paid by your insurance company.