Florida’s 2010 Freedom to Travel Report Documents Unfair Denials of Life Insurance
Mar 1, 2010
A fourth annual report to Florida legislative leadership that documents circumstances under which the refusal of life insurance or the refusal to continue existing life insurance based on past or future lawful travel constituted an unfair trade practice was published today, March 1, 2010.
By law, the report includes the number of applications under which life insurance was denied, continuance was refused, or coverage was limited based on future travel plans; the number of insurers taking such action; and the reason for taking each such action.
The period for this year’s report is July 1, 2008 to June 30, 2009.
At the time the 2009 Freedom to Travel Report was published, an action was pending against USAA Life Insurance Company (“USAA”) that was in the “process of being finalized,” so could not be included in the report published today.
That examination has now been completed, with USAA having taken corrective action, in addition to its payment of $50,000 in fees and investigative costs. The 2009 report also mentioned a group of five companies that had two affiliates with 11 violations, and that the Florida Office of Insurance Regulation was “currently evaluating taking possible administrative action against these two companies.”
To view the 2010 Freedom to Travel Report, click here.
Should you have any questions or comments, please contact Colodny Fass.
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