Universal Property & Casualty Insurance Corp., Florida's third-largest property insurer, has settled a case over allegedly fraudulent claims submitted to the state's Hurricane Catastrophe Fund. Following a whistleblower lawsuit filed in 2020, an investigation revealed that Universal submitted numerous claims unrelated to Hurricane Irma, violating the state's False Claims Act. The settlement, signed in March 2023, requires the insurer to repay over $30 million, though Universal maintains that this is not a fine but a resolution of prior issues. The insurer agreed to implement significant changes to its internal procedures as part of the settlement.
"Florida’s attorney general stated that a whistleblower lawsuit in 2020 led to an investigation revealing Universal Property & Casualty’s fraudulent claim submissions for Hurricane Irma."
"Universal agreed to repay more than $30 million after investigations revealed numerous unrelated claims submitted to the state’s Hurricane Catastrophe Fund."
Collection
[
|
...
]