The Florida Office of Insurance Regulation has made available a Consent Order agreed to by People’s Trust Insurance Company. The OIR conducted a market conduct examination of People’s Trust in the month of February and found that People’s Trust violated several provisions of the Florida Insurance Code and the Florida Administrative code…
Among the violations listed are:
- Failure to obtain a signed application
- Failure to confirm Replacement Cost Values
- Failure to inspect property
- Failure to obtain evidence of prior insurance
- Failure to obtain proof of protective devices
- Failure to obtain proof of Wind Mitigating Features
- Application of BCEG credits where ineligible
- Failure to acknowledge submission of claim in timely manner
View the order: OIR – People’s Trust Consent Order – March 18, 2009
View the Press Release: Press Release from the OIR
