Real estate insurance report Increasing the “red flags” for supervisory authorities and Florida legislators

Tallahassee, Florida (WCTV/Gray Florida Capital Bureau) – The legislators of the state are based on why insurance companies earn billions while increasing premiums for Floridians.

The former commissioner of Florida Versicherung, David Altmaier, was under oath in the first hearing of the subcommittee of the subcommittee for the determination of insurance companies.

The three-hour hearing on Friday was a recently published seven-page report from 2022. This report shows insurance companies that are justified because they have lost millions of dollars. In the meantime, their partner companies made billions.

“Did you find the information alarming?” Rep. Susan Valdez, (r) Tampa, asked.

“There were certainly some red flags, which is why it was important for us to determine whether this was exactly or not,” said Altmaier.

Altmaier was the insurance commissioner in Florida from 2016 to 2022 when the report was drawn up. This was also when the legislators adopted comprehensive reforms during a special session. Many legislators criticized the reforms and claimed that they benefited insurance companies by making it more difficult for people to sue them. However, the legislators say they have no idea about this report.

“The term alarmed, alerted me. Because that means that it was so important that we might have made another decision if we know that we know that we may have made another decision, ”said Rep. Kevin Chambliss, (D) HomeSead.

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“It is very worrying to believe that we had some information that we may have been able to act. I think you heard that we can do some things today. One thing that we will get to the bottom, and when things are to be done, I think this legislator will act, ”said Rep. Brad Yeager, (R) New Port Richey.

The 2022 report was the first time that it was finished and there is a debate about whether it is complete because it is officially a draft. Republicans and Democrats in the committee want a report every year.

“This information is very valuable for us. Yes, I think we need this information, ”said Rep. Yeager.

There will be more hearings and legislators expect insurance companies to appear with them at some point. This committee has a prime power.

The Senate does not plan its own investigation. Leadership said they were waiting to see what comes out of the exam of the house.

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