Real Estate Market in Wesley Chapel and Tampa Bay Florida

Today marks insurers' deadline for settling claims that resulted from last year's hurricanes -- but a few companies won't make the deadline, including Citizens Property Insurance Corp, the states' insurer of last resort, which had about 10,000 unresolved claims in March. Citizens has not announced how many claims remain to be resolved, but any insurer with outstanding claims now has 10 days to file a report offering an explanation, with a few excuses considered acceptable, such as a claim filed late in the process, a delay in contractor estimates, current lawsuits and mediations. Insurers now face a $500 fine for each delayed payout and the threat that they could be banned from doing business in the state.

Source: Tampa Tribune, April 18, 2005