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Office Statement

Statement from Florida Insurance Commissioner Kevin McCarty on the Passage of SB 966
Thursday, March 10, 2016
Contact Info:

Amy Bogner
(850) 413-2515
Amy.Bogner@floir.com

TALLAHASSEE, Fla. – Insurance Commissioner Kevin McCarty today issued the following statement:

I applaud the actions of the Florida Legislature today in passing SB 966 and its companion bill HB 1041, which will help to reunite millions of dollars of life insurance benefits with their rightful owners in our state. This effort has been made possible through the hard work and dedication of Chief Financial Officer Jeff Atwater, Representative Bill Hager, Senator Lizbeth Benacquisto and the many legislative committee members who fought off attempts by some parts of the life insurance industry to limit the number of Floridians that would benefit from this important legislation. By searching all their records, both going forward and then retroactively to 1992 against the United States Social Security Death Master File, life insurance companies would have to make a reasonable effort to investigate a claim when they have actual knowledge of a life insurance policyholders death and either return those monies to the beneficiary or report and remit it to the CFO’s unclaimed property unit, who will forever have these funds available for the owners to collect.”

This significant legislation on behalf of Florida’s consumers is now headed to Governor Scott.

 For more information regarding the multi-agency, multi-state life claim settlement agreements that have resulted in the return of more than $8 billion either directly to beneficiaries or to the state’s unclaimed property programs, visit the Florida Office of Insurance Regulation’s “Life Claim Settlement Practices” webpage. For consumers who wish to search the CFO’s unclaimed property database, visit: www.FLTreasureHunt.org, or call 1-88-VALUABLE/(850) 413-3089. 

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Contact Info:

Amy Bogner
(850) 413-2515
Amy.Bogner@floir.com

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation 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 and Facebook. ​

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