On October 9, 2024, just minutes before Hurricane Milton’s landfall, Florida adopted Emergency Rule 69BER24-4. This rule comes in response to the looming threat posed by Hurricane Milton and the earlier Hurricane Helene, aimed at mitigating property loss and ensuring transparency for Florida consumers. The state regulators have made it clear: transparency and communication between consumers, adjusters, and insurers are key to protecting Florida residents from post-storm fraud and unfair practices in the property insurance market.
What does the new Emergency Rule mean?
1. Electronic Estimating Program Requirement**
– Adjusters must use an electronic estimating program to create or modify loss estimates.
– This program must provide itemized reports detailing damages, including equipment, materials, labor, and supplies.
– The pricing data in these programs must be updated monthly to reflect the latest market costs in the affected areas.
2. No Modifications Without Documentation
– Adjusters are prohibited from modifying the prices in the program unless they can justify it with additional documentation.
– Any changes must be proven to apply current market prices for the necessary materials and labor.
– Documentation must be detailed enough for reviewers to understand and verify each modification.
3. Timely Delivery of Written Estimates
– Written estimates of loss must be delivered to insured individuals promptly, as required by law.
– These estimates must include the original program report, any variation report showing modifications, and all supporting documentation for adjustments.
4. Strict Guidelines for Revising Loss Estimates
– Any changes to the initial estimate must:
– Indicate what has been modified from the original estimate.
– Provide clear explanations for why each change was made.
– Include the identity of the adjuster responsible for the modifications.
5. Record Retention
– Adjusters are now required to retain all versions of the loss estimates to ensure full accountability and transparency.
Yasmin Whitmer
Yasmin Whitmer, a practicing attorney and founder of Whitmer Law and Need2Lien, specializes in representing restoration companies in Michigan. She noticed a common challenge among contractors: the high cost of legal representation for filing construction liens and lack of immediate access to attorneys. Recognizing the need for a more accessible solution, she launched Need2Lien.com, a user-friendly platform that simplifies the lien filing process. With Need2Lien.com, contractors can input project details easily, leaving the complexities of lien filing to Yasmin's team. This innovative approach empowers contractors to focus on delivering quality services while ensuring they get paid promptly. You can contact Yasmin directly at [email protected] or 248-671-4482.
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