State Regulators Levy $500K in Fines Against Two Insurers for Ian, Idalia Claim Issues

State regulators levy $500K in fines against two insurers for Ian, Idalia claim issues

Florida’s Office of Insurance Regulation has fined a pair of insurers $250,000 each for how the companies handled claims following hurricanes in 2022 and 2023.The fines against Kin Interinsurance Network and Slide Insurance Co. close out an investigation of 10 companies over the entities' claims-handling operations after Hurricanes Ian in 2022 and Idalia in 2023 that ORI says in a statement resulted “in several findings that violate Florida’s In…

2 more insurance companies fined for misconduct during Hurricanes Ian and Idalia: OIR

On Monday, Florida Insurance Commissioner Mike Yaworsky announced two more insurance companies were fined for insurance handling practices during Hurricanes Ian in 2022 and Idalia in 2023.The Office of Insurance Regulation (OIR) said it issued $250,000 penalties against Kin Interinsurance Network and Slide Insurance Company.OIR said examination of Kin found "the company failed to provide disclosure statements for both Hurricanes and failed to pa…