Tag: consumer protection

Is Florida’s New Legislation Set to Lower Insurance Premiums?

Nordstrom
Florida Legislative Changes - Home Premiums to go down

In a significant development for Florida homeowners, the Office of Insurance Regulation has approved a 3.3% rate decrease for Heritage Insurance Holdings Inc.’s homeowner policies. This rate reduction, effective August 20, 2024, for both new and renewal policies, is anticipated to be a precursor to broader trends in the state’s insurance market. This article explores the implications of recent legislative changes and their potential impact on insurance premiums in Florida. Florida Legislative Changes Driving the Shift SB 2A (2022) The passage of SB 2A in 2022 introduced several critical reforms…

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Rogue Agents and Policy Switching – The Hidden Dangers for Consumers and Insurance Brokers

Logan B.
Policy Switching Warning - Health Insurance

Unscrupulous Practices Lead to Stolen Policies and Tax Headaches for Many In an alarming trend across several states, consumers covered by Affordable Care Act insurance plans are finding themselves unwitting players in a dangerous game. Without their knowledge or consent, their health insurance policies are being switched, leaving in their wake potential tax complications and vanished coverage. This epidemic of unsanctioned changes, predominantly observed in Florida, Georgia, and Texas, is stirring both consumer and industry unrest. Government and Industry Responses to Unauthorized Policy Switching and Changes Florida and Texas have…

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5 Ways You Can Tell When an Insurer Is Acting in Bad Faith

Guest Author
ways to find out if your insurance company is acting in bad faith

When insurance companies try to renege on their obligations to policyholders by denying legitimate claims or failing to process claims within a reasonable amount of time, this is known as acting in bad faith. Insurers are also acting in bad faith when misrepresenting their contracts’ language, making last-minute changes to policies, or failing to disclose plan exclusions and limitations at the time of purchase. Bad faith ultimately prevents policyholders from getting the protection they want, need, and expect when paying for coverage. Although not every situation is the same but…

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