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Florida Department of Financial Services (FLDFS) is a state agency of Florida. Its headquarters are in Tallahassee. [1] In 2002 the Florida Legislature merged the Department of Insurance, Treasury and State Fire Marshal and the Department of Banking and Finance into one department, the Florida Department of Financial Services. [2]
The most visible responsibility of the officeholder was as Insurance Commissioner. Following the Cabinet reform, the office was merged with that of the state Comptroller to create the new office of Chief Financial Officer of Florida, which oversees the Florida Department of Financial Services. The new department contains many of the functions ...
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
A 2021 analysis by then-Florida Insurance Commissioner David Altmaier found that Florida made up 8% of the nation’s homeowners’ claims in 2019, but 76% of its lawsuits.
A Florida law prohibited Florida-licensed insurance agents from engaging in certain insurance activities [3] such as deposits and engage in any activity incidental to receiving deposits where the agent was related with, [2] among other things, any bank than one which was not a subordinate or associate of a bank capital company, and was located ...
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel John Askins. During Fiscal year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The ...
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In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...