Chief Financial Officer Jimmy Patronis today announced that the Department of Financial Services’ long-time Legislative Affairs Director Elizabeth Boyd has been promoted to Deputy Chief Financial Officer. In this new role, Elizabeth will oversee the Department’s legislative affairs, research and planning, cabinet and communications offices, as well as the Division of Consumer Services and Division of Unclaimed Property.
CFO Patronis said, “For six years, Elizabeth has advanced the Department’s legislative priorities and secured great success on initiatives important to enhancing the lives of all Floridians. Her expansive knowledge on insurance, finance and regulatory matters, as well as a broad understanding of the legislative process, makes her well-suited to lead our Department in this capacity.”
Elizabeth joined the Department of Financial Services in September 2011 as Deputy Legislative Affairs Director. As deputy director, she aided in the development of the Department’s legislative agenda and advocated for the Department’s initiatives in front of the Florida Legislature and other stakeholders. In this capacity, she assisted in the successful passing of legislation that included the creation of a homeowner claims bill of rights and the implementation of sweeping transparency reforms to Florida’s state contracting laws.
Elizabeth’s legislative accomplishments led to her promotion to Legislative Affairs Director in December 2014, where she’s since served as the Chief Financial Officer’s principal legislative advisor and lead lobbyist. As director, Elizabeth has been instrumental in securing several legislative victories, including a ban on a medical billing practice known as “balance billing” in which health care providers bill patients for out-of-pockets costs not covered by health insurance and securing the end of a pervasive insurance business practice that derailed the proper payment of life insurance policies to beneficiaries.
Prior to joining the Department, Elizabeth held legislative roles with the Department of Management Services, within the Executive Office of Governor Jeb Bush, and for the Florida Lottery. She earned a bachelor’s degree in communications from Florida State University.
The Department’s current Deputy Legislative Affairs Director, BG Murphy, has been promoted to Legislative Affairs Director. Murphy joined the Department in February 2015, following his service as legislative assistant to Representative Halsey Beshears. In 2014, Murphy led the successful campaign of Representative Brad Drake. Murphy has also worked in management and corporate relations in the private sector. He earned a bachelor’s degree in political science from Florida State University.
Both promotions became effective Monday, October 16. To learn more about the Department of Financial Services, visit www.myfloridacfo.com.
Florida Department of Financial Services
DFS Law Enforcement Personnel Lands in Puerto Rico
On Sunday, Major Karl Morgan with the Department of Financial Services’ Bureau of Fire and Arson Investigations flew to San Juan, Puerto Rico alongside personnel from the Florida Fish and Wildlife Conservation Commission, Florida Highway Patrol and Florida Department of Law Enforcement to assist with hurricane recovery efforts following Hurricane Maria.
Major Morgan joins an eight-member multi-agency incident management team that will coordinate the activities of law enforcement personnel. Last week, CFO Patronis pledged to assist Puerto Rico in its recovery efforts, and additional resources remain on standby.
Patronis and Altmaier Stress Hurricane Irma Preparedness
In advance of Hurricane Irma’s impact to Florida, CFO Jimmy Patronis and Insurance Commissioner David Altmaier are advising the state’s more than 20 million residents to take actions now and get prepared.
“I know that Floridians have worked hard for their homes, but nothing is more important than protecting your life, so I ask all Floridians to please heed evacuation orders in their area and head to safer ground today,” said CFO Patronis. “We will help homeowners navigate through their insurance issues after Hurricane Irma has passed, and we will do everything possible to protect Florida’s policyholders.”
“Hurricane Irma is a dangerous storm and everyone in Florida should be taking it seriously. This includes monitoring weather advisories and making preparations to protect their families and homes for its pending landfall in our state,” stated Insurance Commissioner David Altmaier.
Numerous hurricane preparedness resources are available on both the Department of Financial Service’s (DFS) “Hurricane Irma” webpage and on the Office of Insurance Regulation’s (Office) “Hurricane Season Resources” webpage.
These include tips such as:
- Know the phone number and contact information for your insurance agent and insurance company. Make sure to have easy access to this information and your insurance policy if you must evacuate your home.
- Review your insurance policy and make sure you understand what may or may not be covered under your policy. Typically, flood insurance is not covered under a homeowners policy. In addition, some policies may cover expenses related to a mandatory evacuation, so it will be important to save all receipts.
- Strengthen your home’s defenses against a storm through simple mitigation techniques, such as covering windows and outside doors with storm shutters or plywood, replacing worn weather stripping under doors, and removing tree limbs that may fall on your home or become flying projectiles.
- Inventory your valuables and possessions using a home inventory checklist, which is available as a form you can download and print here. If you prefer to use a smartphone, there is a link to a free app created by the National Association of Insurance Commissioners, which allows you to take pictures and add descriptions of your belongings.
- Most importantly, have a plan for you and your family if evacuation becomes necessary and know where the designated evacuation routes are in your community. Do not wait to evacuate if it becomes necessary.
- Following the storm, document all damaged property and belongings (take photos or shoot video of any damage before attempting temporary repairs), contact your insurance company or agent as soon as possible to report damages, and be wary of signing any documents for repairs that will give away your rights as an insured to a third-party vendor without understanding who will be responsible for paying the vendor, you as the consumer, or the insurance company. For more information about how an assignment of benefits (AOB) for repairs works, visit the DFS “AOB” or Office “AOB Resources” webpages.
Consumers who have questions about their insurance coverage are encouraged to call CFO Patronis’ Insurance Consumer Helpline at 1-877-693-5236. This helpline can also help consumers to gain contact information for their insurance company, and can also help to verify the license of an insurance agent or adjuster.
First 2017 Unclaimed Property Auction Earns $1.194 Million
Chief Financial Officer Jimmy Patronis today announced that the first of two 2017 unclaimed property auctions, held Saturday in Fort Lauderdale, earned $1.194 million. All of the auction’s nearly 48,000 individual items sold, and the highest grossing individual auction item was a 14k gold ring with a 4.02-carat European cut diamond that sold for $11,500.
Items included in the Department of Financial Services’ unclaimed property auctions come from abandoned safe deposit boxes. Despite at least five years of exhaustive efforts, no rightful owner or entitled heir stepped forward to claim the boxes or the items contained within them. However, the proceeds earned from the sale of auction items can be claimed at any time and at no cost should an owner ever come forward.
The second 2017 unclaimed property auction will be held August 25 and August 26 in Orlando at the Florida Hotel and Conference Center, located at 1500 Sand Lake Road. Items included in the auction will be available for public preview on Friday, August 25. The auction will take place the following day, Saturday, August 26. A catalog containing descriptions of the upcoming auction items will be available in the coming days.
Roughly 1-in-5 Floridians has an unclaimed property account in their name. To search for unclaimed property or to claim an account, please visit www.FLTreasureHunt.gov.
Jimmy Patronis Brings Business Expertise to Department of Financial Services
Today in Tallahassee, Jimmy Patronis was officially sworn in as Florida’s Chief Financial Officer, replacing Jeff Atwater who is leaving state government to pursue a career in higher education. As a former member of the Florida House of Representatives and a successful business owner, Patronis brings to the Department a unique expertise of the Florida economy as well as private sector perspective on many of the Department’s key issues, such as financial accountability, protecting employees from the harmful effects of on-the-job injuries, contract management and the importance of providing consumer services aimed at improving the quality of life of all Floridians.
“Florida is without a doubt the best place to live, work and raise a family,” said Chief Patronis. “I am honored to serve my fellow Floridians in this capacity, and I look forward to continuing the legacy of CFO Jeff Atwater in creating the same opportunities and success that my family has seen for all Floridians.”
The Chief Financial Officer oversees the Department of Financial Services, serves as Florida’s State Fire Marshal and as a member of the Florida Cabinet.
The Department of Financial Services manages the state’s accounting and auditing functions, monitors the investment of state funds and manages Florida’s risk management program. The Department also serves as the clearinghouse for insurance information, licensing insurance agents and addressing consumer complaints involving insurance companies. Law enforcement units aggressively fight insurance and public assistance fraud and ensure that employers adequately provide workers’ compensation insurance for employees.
Jimmy Patronis was born and raised in the Florida Panhandle. The Patronis Family owns and operates Captain Anderson’s, a Panama City restaurant currently celebrating its 50th anniversary. He served in the Florida House from 2006 to 2014, and has earned degrees from Gulf State College and Florida State University.
CFO Atwater: Insurance experts only one call away
For free insurance assistance, Floridians can call 1-877-693-5236
Ahead of the June 1 start to the 2017 Atlantic Hurricane Season, Chief Financial Officer Jeff Atwater reminds Floridians to write down the State of Florida’s toll-free insurance helpline number (1-877-693-5236). Operated by the Department of Financial Services, the helpline connects Floridians directly to insurance experts who can help them file an insurance claim, better understand their policy, and settle setbacks that can arise during the claims-filing process.
“Getting back on your feet following a storm can be a stressful state of affairs, but I hope that having free and ready access to insurance expertise can help the recovery process run more efficiently for Florida families,” said CFO Atwater. “All Floridians should keep the helpline phone number on their emergency contact list and inside their family’s hurricane kit.”
Assistance provided by insurance experts working the helpline led to the recovery of $8 million during the first quarter of 2017. These recoveries included insurance claim payments that were previously denied or underpaid by a consumer’s insurance company and premium refunds that consumers sought the Department’s help collecting. Between January 1, 2017 and March 31, 2017, helpline experts answered 70,634 calls and opened nearly 5,000 assistance requests.
For a better chance of a complication-free claims process, Floridians should carefully review all insurance policies to ensure that proper coverage is in place for their home, car, and belongings. Common reasons for complications include a lack of adequate insurance coverage and insufficient documentation or proof of damage.
For added help preparing for the 2017 hurricane season, the Department’s Division of Consumer Services offers online disaster guides and emergency preparedness toolkits. Floridians can download and print free copies at http://www.myfloridacfo.com/Division/Consumers/Storm/.
CFO Atwater Celebrates Legislative Success
As the 2017 Legislative Session nears its end, CFO Atwater celebrates the passage of priority legislation championed by the Department of Financial Services. This year marks CFO Atwater’s seventh and final legislative session as one of Florida’s four Cabinet officers.
Successful key legislative initiatives include:
Insurance Rehabilitation and Liquidation – Sponsored by Senator Kathleen Passidomo (SB 730) and Representative Jake Raburn (HB 837)
“When an insurance company fails financially, it becomes a nightmare for the consumers who are stuck wondering if their claims will be paid and if their health care providers will still see them,” said CFO Atwater. “This legislation clarifies the process that the State of Florida has put in place for these situations, and doing so will give consumers the confidence of knowing that someone is on their side.”
When an insurance company becomes insolvent, the Department of Financial Services steps in to protect policyholders and to assess the company’s finances. The process is known as receivership, and the Department works to determine if the company can be saved through rehabilitation or if it must be liquidated.
This common-sense, consumer protection legislation outlines the obligations of the insurance company to cooperate with Department staff and clarifies the deadlines for debtors to submit claims. By doing so, the Department can better assess the debt owed by the company and prioritize policyholder claims payments using existing funds.
Insurance Fraud – Sponsored by Senator Jeff Brandes (SB 1012) and Representative Holly Raschein (HB 1007)
“We have made significant strides in our fight against fraud, and we couldn’t have done so without the partnership of the fraud-fighting units housed within many of our state’s insurance companies and the dedicated prosecutors who take our cases to trial,” said CFO Atwater. “This legislation helps our investigators further improve their processes and hone their techniques, so that our Department can stay a step ahead of the criminals who seek to defraud Floridians.”
This legislation requires insurance companies to annually report specific information to the Department outlining fraud-related statistics and details. The legislation also requires insurance companies to hold annual anti-fraud training for their investigators and asks that insurance companies develop in-house anti-fraud plans. Finally, so that the Chief Financial Officer can ensure that prosecutors are addressing workers’ compensation and insurance fraud cases, it creates mandatory prosecutorial reporting for judicial circuits that receive state funds for dedicated insurance fraud prosecutors.
Agency Enhancements – Sponsored by Senator Kelli Stargel (SB 986) and Representative Mike Miller (HB 925)
“We pride ourselves on operating as efficiently and effectively as possible, and these updates will allow us to continue our mission of becoming the best Department of Financial Services possible,” said CFO Atwater.
This legislation implements several legacy enhancements to the Department of Financial Services including: preservation of the Department’s Holocaust Victims Assistance Program, which reunites Floridians with money and items that were stolen from them during the Nazi era; an update to the Boiler Safety Act; language that affords the prompt payment of contractual grants to vendors contracted with the State of Florida for goods or services; and clarifies the licensure process for insurance agents in Florida.
To learn more about the Department of Financial Services, click HERE.
Chief Financial Officer Jeff Atwater, a statewide elected official, oversees the Department of Financial Services, serves as Florida’s State Fire Marshal, and is a member of the Florida Cabinet. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away businesses, and providing transparency and accountability in spending. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).
