Video above: ‘Broke’ insurance companies moved money, report finds
In Tampa, Florida, local news reports revealed that a property insurance company has been penalized $100,000 by state insurance regulators due to its inadequate handling of claims following Hurricane Ian in 2022.
The Florida Office of Insurance Regulation released a consent order indicating that Centauri Specialty Insurance Company did not employ appropriately appointed adjusters and failed to offer a disclosure statement when issuing partial rather than complete payments on claims.
Officials identified 168 cases where the company utilized adjusters who lacked the proper appointments. State law mandates that these adjusters must have the necessary licenses and appointments.
The office said that Centauri “did not provide the particular disclosure statement when providing a payment on a claim that was not the full and final payment in 141 instances.”
Centauri was fined $100,000, plus $2,000 in administrative costs. As part of the agreement, the company acknowledged it could face administrative penalties if caught violating the terms of the consent order in the future.
