Office Releases 2013 Freedom to Travel Report
Contact Info: Amy Bogner
850-413-2515
Amy.Bogner@floir.com
Office Releases 2013 Freedom to Travel Report
TALLAHASSEE, Fla. –Florida Insurance Commissioner Kevin McCarty today submitted the “2013 Report on Life Insurance Limitations Based on Foreign Travel Experiences” to the Florida Legislature. The report details implementation of the “Freedom to Travel Act,” which was passed in 2006 and codified into law at Section 626.9541(1)(dd), Florida Statutes. The legislation placed limitations on insurance companies’ ability to deny coverage or increase premiums for life insurance based on past or future foreign lawful travel.
“This is the seventh year of this report and it highlights the success of legislative and regulatory actions taken to prevent unfair discrimination for life insurance and annuities policyholders and applicants,” said Commissioner McCarty. “We appreciate the insurance industry’s cooperation with this important legislation preserving Floridians’ rights to travel freely outside of the United States.”
There were two administrative action fines/penalties of $21,000 in 2012 for two companies who self-reported the violations for travel to Mexico and Venezuela prior to the 2012 report. The Office is currently reviewing three potential violations which were self-reported from three companies involving denial of coverage for travel to Israel, Colombia, and to the Bahamas.
To view previous reports, visit the Industry Data and Reports page on the Office website.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about the Office, please visit www.floir.com or follow us on Twitter @FLOIR_comm.
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