The Insurance Consumer Advocate represents the interests of Florida citizens in insurance matters before regulatory agencies, such as the Department of Financial Services and the Office of Insurance Regulation.
The Department of Financial Services' Division of Consumer Services provides education, information and assistance to consumers regarding insurance and financial products. Consumers may obtain assistance at offices located in Largo and Tallahassee or use the toll-free hotline (1-877-693-5236).
Florida Law requires insurers to compare the records of their insureds' life or endowment insurance policies, annuity contracts that provide a death benefit, and retained asset accounts that were in force on or after January 1, 1992, against the Social Security Administration's Death Master File. Insurers are also required to make such comparisons on at least an annual basis. No later than 120 days upon learning of the death of an insured, insurers must determine whether benefits may be due under a policy, annuity, or retained asset account and complete an effort to locate and contact the beneficiary. Florida has regulatory agreements with 27 life insurance companies; these agreements generally stipulate that the companies agree to compare their records against the master file. Insurers that have been unsuccessful in locating a Florida beneficiary remit applicable funds to the Department of Financial Services' Division of Unclaimed Property, where families can search for the funds.
Fund | Dollars | Positions | |
---|---|---|---|
OFFICE OF INSURANCE REGULATION | |||
COMPLIANCE AND ENFORCEMENT - INSURANCE |
34,171,316
|
249.00 |
|
EXECUTIVE DIRECTION AND SUPPORT SERVICES |
3,522,984
|
33.00 |
|
TOTAL |
37,694,300 |
282.00 |
Regulation of Property Insurers and Insurer Insolvencies. The 2022 Legislature enacted Ch. 2022-268, Laws of Florida, which revises statutes relating to property insurance. Among its provisions, the law
Oversight of Pharmacy Benefit Managers. The 2022 Legislature enacted Ch. 2022-200, Laws of Florida, which amends statutes relating to the Office of Insurance Regulation's oversight of pharmacy benefit managers (PBMs). Among its provisions, the law
Living Organ Donors. The 2022 Legislature enacted Ch. 2022-59, Laws of Florida, which amends statutes relating to insurers of living organ donors. Among other provisions, the law provides that insurers for individual or group life insurance, industrial life insurance, credit life insurance, credit disability insurance, or long-term care insurance may not
Several Factors Hinder Homeowner and Auto Glass Insurance Fraud Processing, Report 21-05, March 2021 |
Review of Professional Employer Organizations and Workers' Compensation, Report 21-04, March 2021 |
Other Reports
Annual Reports, Office of Insurance Regulation
Office of Insurance Regulation - Office of Inspector General's Internal Audit Activity - For the Review Period July 2017 Through June 2018, Auditor General Report No. 2019-033, October 2018.
Office of Insurance Regulation - Insurer Rate Filing Review Process and Prior Audit Follow-Up - Operational Audit, Auditor General Report No. 2017-050, November 2016.
Websites of Interest
American Property Casualty Insurance Association
Florida Commission on Hurricane Loss Projection Methodology
Florida Hurricane Catastrophe Fund
Florida Insurance Council
National Association of Insurance Commissioners
National Conference of Insurance Legislators
Society of Insurance Research
Performance Information
Office of Insurance Regulation, 850-413-3140