FPCA Homeowners Division: Comments on Proposed Insurer Annual Report Card Rule Requested By August 5

REMINDER:  The Florida Property Casualty Association (“FPCA”) requests member comments on proposed Rule 69O-236.001 relating to insurer Annual Report Cards. The proposed Rule would adopt an Annual Report Card for authorized Florida personal residential property insurers to be used by the Office of the Florida Insurance Consumer Advocate as required by State law.

Please forward any comments on the proposed Rule to Katie Webb at kwebb@cftlaw.com by 5:00 p.m. on Wednesday, August 5, 2009.

A Rule Development Workshop on the proposed Rule is scheduled to be held on Thursday, August 6, at 2:30 p.m. in Room 143 of the Larson Building, 200 East Gaines Street, Tallahassee.

The Annual Report Card would incorporate a form and a letter grading scale that would evaluate each insurer on the following factors:

• The number and nature of consumer complaints, stated as a market share ratio, and received by the Florida Department of Financial Services (“DFS”) against the insurer;
• The disposition of all related complaints received by the DFS;
• The average length of time for payment of claims by the insurer; and
• Any other factors identified as helpful to policyholders in making informed choices about homeowners’ insurance.

To view the Workshop notice, click here.