Hurricane Michael Insurance Consumer Town Hall Meeting, November 2, 2019. Courtesy DFS
This weekend I traveled back to Panama City. It’s a tough trip because so many of the trees are as they were …snapped like pencils and on the ground. Tasha Carter, Florida’s Insurance Consumer Advocate held a town hall meeting so consumers could tell their stories. The Office of Insurance Regulation (OIR) also attended.
Most consumers are still trying to finalize their claims but the reasons for the delay were primarily from lack of construction labor, delays in mortgage company claim payment release, or more damage than originally thought. The biggest reason though was that most had lawyers “helping” them yet when they discussed their lawyers they mentioned that the lawsuit route would be 9 months to a year.
I asked several in attendance if they had asked the Department of Financial Services for help and most didn’t know about the state’s free mediation services. And worse, most didn’t know that when they hire a lawyer, the state’s hands are tied to intervene. I was very honest with most, explained that I volunteer my time to help consumers and that hiring a lawyer is a last resort.
The regulators in attendance were very attentive and offered constructive advice and counsel. Most consumers were grateful to understand fully where things stood, especially when they learned that close to $1 billion from the federal government will eventually be used in the Panhandle to, as one official explained, “transform the area”.
I left there feeling hopeful and glad that I went. Making the Panama City pilgrimage is one I plan to continue for a long time. And next up is lots of news and tidbits for you.
LMA Newsletter of 11-4-19
