May 18, 2013
Fines were levied today against 91insurance companies for allegedly being too slow in settling hurricane damage claims.
The state says the companies didn't file affidavits in time attesting they have complied with a state law requiring them to quickly settle such claims.
The 91 companies were hit with more than 1.3 million dollars in fines.
Florida property insurance companies are required to show that
they've evaluated damage to customers' property. The companies are
also require to make a reasonable effort to settle claims, or get
negotiations going if there's a dispute.
The law also requires the companies to advance people the cost
of living while they are out of their homes.
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