TALLAHASSEE, Fla. (WFLA) — House Democrats in Tallahassee are calling on the governor to investigate Florida insurance companies that are claiming they are broke, all while transferring profits to their affiliate companies.

House Minority Leader Fentrice Driskell, D-Tampa, sent both Governor Ron DeSantis and House Speaker Daniel Perez letters asking to further investigate the recent news of property insurance companies claiming to be in distress, while at the same time, shifting billions in profits to companies they own.

“We’re pushing for that accountability, calling for an investigation, asking the Florida house to use its subpoena power. Let’s put some folks under oath and let’s get some questions,” Driskell said.

Democrats say the letters to DeSantis and Perez were sparked by the Tampa Bay Times’ recent report on a secret study. The study found insurers have sent billions of dollars to affiliate companies, or to shareholders, instead of using those profits to benefit policy holders.
“We know from the stories that we hear in districts that were ravished by hurricanes, were ravaged by flooding, that people are not getting what they need from their property insurance company,” Driskell said.

Driskell says the study conducted in 2022 confirms top insurance companies have been ripping off everyday Floridians and then lying to the legislature.

Aside from the news, Florida Insurance Commissioner Michael Yaworsky points to market stability emerging here in the state

“We are truly seeing good news emerge on every front,” Yaworsky said. “We are seeing litigation rates decrease upwards of 30% throughout the state, so the reforms are working. It does take time for consumers to truly feel all those effects and the impacts, and to a degree, we are fighting against inflation and other economic factors that we cannot avoid, but we are seeing good news.”

News Channel 8 on your side reached out to both the governor and house speaker but have not heard back yet.