Friday, March 18, 2005

30-Day Deadline

The Palm Beach Post reports:
"Gov. Jeb Bush and the Florida Cabinet on Thursday ordered insurers statewide to settle all outstanding hurricane claims within 30 days — by April 18 — or provide detailed reasons explaining why any remaining claims are not closed. * * * Companies failing to comply with the rule could be fined $500 a day or more. Insurers must report any unpaid claims to the state Office of Insurance Regulation by April 28 and explain why."
Citizens Property Insurance Corp. is said to have "a little fewer than 10,000 claims still unpaid, including several hundred in the Pensacola area affected by a court case involving flood damage vs. wind damage."

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