Filing Number: 787180
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| Filing Accepted: 10/16/2024 |
| Last/Business Name
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| Street Address
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2312 E. 110TH AVENUE |
| City, State Zip
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TAMPA,
FL
33612
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| Email Address
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JEFF@WEKLAW.COM |
| Complainant Type:
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Insured |
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| Last/Business Name* |
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VARGAS |
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First Name |
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JUANA |
| Policy # * |
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P000177961 |
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Claim #* |
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252554 |
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Attorney is Applicable
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| Last Name* |
SAIDENSTAT
First Name *
JEFFREY
Initial
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| Street Address* |
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800 EAST BROWARD BLVD. SUITE 510 |
| City, State Zip* |
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FORT LAUDERDALE
,
FL
33301
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| Email Address * |
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JEFF@WEKLAW.COM |
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| Insurer Type
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Authorized Insurer
Unauthorized Insurer
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| Insurer Name |
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| Insurer Name* |
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SECURITY FIRST INSURANCE COMPANY
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| Insurer Name* |
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| Street Address* |
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| City, State Zip* |
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,
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NAIC Company Code 10117 |
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| Name of individual responsible for violation (if any):*
JOHN JOINER-LICENSE # W166594
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| Type of Insurance
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Residential Property & Casualty
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| Reason for Notice
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Claim Denial
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Claim Delay
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Unsatisfactory Settlement Offer
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Statutory provision(s) which the insurer allegedly violated.
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| 624.155(1)(b)(1) |
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Not attempting in good faith to settle claims when, under all the circumstances, it could and should have done so, had it acted fairly and honestly toward its insured and with due regard for her or his interests.
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| 624.155(1)(b)(3) |
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Except as to liability coverages, failing to promptly settle claims, when the obligation to settle a claim has become reasonably clear, under one portion of the insurance policy coverage in order to influence settlements under other portions of the insurance policy coverage.
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| 626.9541(1)(i)(3)(a) |
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Failing to adopt and implement standards for the proper investigation of claims.
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| 626.9541(1)(i)(3)(b) |
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Misrepresenting pertinent facts or insurance policy provisions relating to coverages at issue.
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| 626.9541(1)(i)(3)(c) |
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Failing to acknowledge and act promptly upon communications with respect to claims.
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| 626.9541(1)(i)(3)(f) |
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Failing to promptly provide a reasonable explanation in writing to the insured of the basis in the insurance policy, in relation to the facts or applicable law, for denial of a claim or for the offer of a compromise settlement.
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| 626.9541(1)(i)(3)(g) |
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Failing to promptly notify the insured of any additional information necessary for the processing of a claim.
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| 626.9541(1)(i)(3)(h) |
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Failing to clearly explain the nature of the requested information and the reasons why such information is necessary.
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| 626.9541(1)(i)(3)(i) |
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Failing to pay personal injury protection insurance claims within the time periods required by s. 627.736(4)(b).
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Specific policy language that is relevant to the violation.
Enter all words or phrases (one at a time) that should be used to filter.
The Loss Payment provision found in the homeowner's policy authorizes payment in the event of a covered loss to insured property.
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Facts and circumstances giving rise to the violation.
Enter all words or phrases (one at a time) that should be used to filter.
At all times material hereto, Security First Insurance Company insured Juana Vargas’s home under a policy of insurance. The subject policy provides coverage for sudden and accidental losses and damages arising from plumbing failures. The loss payment provision and governing law provides that the insurer has a fiduciary duty to in good faith promptly investigate, adjust, and issue payment of the undisputed amount of the loss and damages. See Doe v. Allstate Ins. Co., 653 So. 2d 371, 374 (Fla. 1995) (stating that the obligation of insurance company toward insured is a "fiduciary duty requiring the exercise of good faith").
Security First Insurance Company failed to pay the insured's claim for a plumbing loss under the homeowner's insurance policy when, under all of the circumstances, it could and should have done so, had it acted fairly and honestly and with due regard for the interests of insured. Security First Insurance Company failed to act with diligence and thoroughness in investigating the facts specifically pertinent to coverage. Security First Insurance Company failed to attempt to settle the liability claim in the face of the coverage dispute. Security First Insurance Company failed to assess the substance of the coverage dispute or the weight of legal authority on the coverage issue.
Security First Insurance Company has a regular business practice of failing to adequately evaluate its policyholder’s claims and undervalues the claims to save itself money. It is clear that the insurer’s general business practice of willful, wanton, immoral, deceptive and bad faith claim handling policies, procedures, adjusting, investigating has caused the insured to suffer further harm and extra-contractual damages which have accrued, and will continue to accrue. Security First Insurance Company also has a regular business practice of retaining unreliable vendors, including adjusters and engineers, to assist in its intentional effort to deny its policyholder rightful benefits. That said, and even though Security First Insurance Company knows that it has a fiduciary duty to promptly adjust insurance claims, it failed to institute the necessary policies, procedures, guidelines and protocols to adjust insurance claims promptly and pursuant to the policy’s Loss Payment Provision. By way of the cited legal authorities and considerations, Security First Insurance Company knew that it had an obligation to treat all insureds equally and honestly. However, and for their own financial interest, they will only start to fully consider their obligations as stated herein if the insured retains legal representation and pursues a legal action which exposes them to liabilities and costs. Even then, they will withhold monies owed in an unjust effort to limit/delay their liabilities in relation to the statutory considerations and otherwise.
To cure the above stated immoral, deceptive, unlawful and generally described bad faith conduct which is part of a general business practice that is knowingly being utilized by Security First Insurance Company for self-gain, Security First Insurance Company must:
(1) accept coverage for the subject claim;
(2) promptly make payment pursuant to the policy’s Loss Payment Provision for covered damages in the amount of $30,815.00
(3) tender interest on any overdue payments; and
(4) acknowledge liability for taxable cost in the pending lawsuit.
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The submitter hereby states that this notice is given in order to perfect the rights of the
person(s) damaged to pursue civil remedies authorized by Section 624.155, Florida Statutes.
Before submitting a Notice using this system, please verify that all text has been entered
correctly and completely. Once the Notice has been submitted, the text cannot be changed
or deleted.
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DFS-10-363
Rev. 10/14/2008
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