Florida Insurer Fined for Treatment of Policyholders After Hurricane Ian | Insurify [Video]

Heritage Property & Casualty Insurance was slow to pay and respond to claims, kept poor records, and used improperly licensed adjusters following Hurricane Ian, Florida insurance regulators found after an investigation. Regulators fined the insurer $1 million following the probe – one of the largest fines the state has ever administered against an insurer.

The Office of Insurance Regulation (OIR) reviewed 324 claims in a “targeted market conduct examination” and found numerous state law violations.

Heritage Insurance has agreed to pay the fine, the Miami Herald reported.

What the regulators discovered

The OIR examination report shared 10 findings about the randomly sampled claims and found Heritage didn’t:

Acknowledge it had received communication about a claim within 14 days. (30.2% of claims)Ensure licensed adjusters provided a document with their name and license number to policyholders if the process required a physical inspection. (42.9%)Pay or deny claims within 90 days. (21.6%)Include the adjuster’s name and license …