(The Insurer) - Florida’s attorney general has reached an agreement with Universal Property & Casualty Insurance Company that resolves allegations the carrier fraudulently submitted numerous ineligible claims for reimbursement in violation of the Florida False Claims Act.
Attorney General James Uthmeier said he had secured the return of more than $30 million to the Florida Hurricane Catastrophe Fund from fraudulent insurance submission allegations following Hurricane Irma.
He said this is the first time his office has secured repayment related to an insurance fraud case.
UPCIC parent Universal Insurance Holdings issued a statement saying that it “refuted all allegations of fraudulent submission, and the matter has been formally dismissed by the state”.
The attorney general’s office launched an investigation into UPCIC following a whistleblower lawsuit filed in Leon County to ensure that the claims submitted by the company were caused by Hurricane Irma.
“During the course of that investigation, numerous unrelated claims were identified in the submissions from UPCIC to the FHCF. As a result, the company agreed not to seek reimbursement for those claims, lowering the FHCF payout from Hurricane Irma to UPCIC by more than $30 million.”
Uthmeier's office said the company has also agreed to pay more than $4 million in fines and implement changes to its policies and procedures.
The settlement agreement shows that UPCIC has agreed to pay a total of $6.5 million including a...
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