CFO Patronis Highlights Big Wins for Floridians and the Florida Department of Financial Services in 2024
~ CFO applauds successful efforts to aid storm victims, protect taxpayer dollars, and support first responders ~

TALLAHASSEE, Fla. – Today, Chief Financial Officer (CFO) Jimmy Patronis highlighted significant accomplishments of the Florida Department of Financial Services (DFS) in 2024, including helping thousands of hurricane victims get back on their feet, cracking down on insurance fraud that drives up rates, and returning hundreds of millions of dollars in unclaimed property to the pockets of Floridians. DFS also worked to create the Florida Tax Advocate to fight against IRS overreach, installed protections for first responders from the dangers of Electric Vehicle (EV) fires, and secured millions of dollars in funding to keep Florida’s policyholders first.

CFO Jimmy Patronis said, “For more than 7 years, I’ve had the honor to work alongside some fantastic public servants at DFS. These men and women work every day to serve Floridians by managing taxpayers’ dollars, licensing insurance professionals, assisting insurance consumers, and holding bad actors accountable for fraud. This year, our State Treasury earned more than $2.25 billion in interest on state investments; that's more money in state coffers without raising taxes. Our licensing division processed more than 176,000 applications for new insurance agents and adjusters to do business in Florida; that's thousands of new financial advisors to help you shop for coverage and recover from a storm. Lastly, our unclaimed property division returned more than $418 million to Floridians; that's unexpected money injected back into our state economy to help families and businesses thrive. These accomplishments took some long hours and hard work, and I’m so thankful for our DFS staff, who made it happen on behalf of Floridians.  

“During the 2024 Legislative Session, we advocated for everyday Floridians, including firefighters, families, small business owners, and homeowners facing high insurance costs. Florida invested nearly $7 million to enhance insurance consumer services and expand our reach statewide. We also allocated $200 million for the My Safe Florida Home program to strengthen homes against storms and reduce insurance expenses. Each year, we pursue reforms to prioritize policyholders and ensure your voice is heard.

“Lastly, I am proud of our efforts to safeguard first responders and equip them with resources to save lives. In the aftermath of Hurricane Ian, we recognized the dangers of electric vehicles and lithium-ion battery fires. This year, the State Fire Marshal’s Office created protections against these emerging fire hazards. Additionally, we allocated over $1 million to train Urban Search & Rescue Teams, the first responders on the scene immediately after disasters. Florida’s first responders are heroes, and I'm always honored to support their life-saving missions and provide them with the tools to keep our communities safe.”

Florida Department of Financial Services 2024 Accomplishments:

Kept Policyholders First & Assisted Storm Victims

In the week following the devastating impacts of Hurricanes Helene and Milton, CFO Patronis and the Division of Insurance Consumer Services successfully deployed four Insurance Villages to impacted areas to help thousands of Florida residents secure more than $3.2 million in claims checks and initial payments. The Insurance Villages allow policyholders to meet with their property insurer in person and work together to solve any outstanding claims.

Bolstered Insurance Consumer Services

To better assist insurance policyholders, the Legislature approved $7 million for additional staffing, field offices, mediation services, and training within the Florida Department of Financial Services. Another $560,000 will fund AI tools for the insurance helpline, speeding up claim resolutions after disasters.

Expanded My Safe Florida Home & Launched the Condo Pilot Program

The Legislature allocated $200 million to strengthen the My Safe Florida Home Program, which helps homeowners protect their properties from hurricane damage. More than 100,000 free home inspections have been completed, and nearly $400 million in grants have been awarded. Policyholders have reported an average savings of $1,000 on their insurance premiums.

The Department also successfully launched the My Safe Florida Condo Pilot program. Administered by DFS, the Florida Legislature created the pilot program during the 2024 legislative session and provided $30 million in funding statewide. The pilot program is similar to the widely successful “My Safe Florida Home” program but is significantly limited in scope due to its initial pilot phase.

Supported Florida's First Responders

Addressed Electric Vehicle Fires

Florida is tackling the risks posed by lithium-ion battery fires in electric vehicles, scooters, and golf carts. During Hurricane Ian, EVs exposed to saltwater caught fire, endangering homes and apartment complexes. CFO Patronis and the Division of State Fire Marshal pushed new fire safety standards and policies to reduce these risks.

Secured Firefighter Cancer Benefits

Cancer is the leading cause of death among Florida’s firefighters. New legislation passed in 2024, ensures the state covers sick leave for firefighters undergoing treatment, preventing them from depleting their savings while battling the disease.

Supported Urban Search & Rescue Training

DFS worked to allocate $1 million to train and equip Urban Search and Rescue teams, ensuring they are prepared to respond to disasters and save lives.

Curbed Fraud & Protected Consumers

This year, CFO Patronis’ Division of Criminal Investigations (CID) continued its mission to fight fraud and protect Florida’s consumers from scams and financial abuse. The CFO’s fraud detectives opened more than 1,200 cases and made more than 610 arrests for fraud, arson, and misuse of state funds, leading to a total of more than $45 million in court-ordered restitution in 2024.

Following Hurricanes Helene and Milton, the CFO activated and deployed his Disaster Fraud Action Strike Team (DFAST) to protect Florida residents and businesses from fraud. The DFAST deployment consisted of 29 teams comprised of 170 personnel, including insurance fraud and workers’ compensation fraud detectives. The teams were positioned in the roughly 25 Florida counties most impacted by storms. CFO Patronis’ anti-fraud teams work to ensure contractors follow Florida workers’ compensation laws while conducting repairs following storms.

Protected Taxpayers, Consumers, & Businesses

Fought Against IRS Overreach

CFO Patronis and DFS prioritized protecting Florida taxpayers from IRS overreach. New legislation passed in 2024 established the Florida Tax Advocate within the Department of Financial Services, ensuring taxpayers have representation when dealing with IRS issues. The law will also identify IRS agents who unfairly target Floridians and protect users of platforms like PayPal and Venmo from being wrongly taxed on certain transactions.

Guarded Against “DeBanking” of Floridians

Building on last year’s “DeBanking” law, the CFO fought for new provisions to ensure that consumer complaints against financial institutions targeting individuals or businesses for political reasons are investigated promptly.

Returned Hundreds of Millions of Dollars in Unclaimed Property

In 2024, CFO Patronis’ Division of Unclaimed Property returned more than 400,000 accounts valued at more than $420 million to Floridians. Since CFO Patronis took office in July 2017, the Division has returned more than $2.7 billion in unclaimed property.

In August, the Division of Unclaimed Property hosted an unclaimed property auction in West Palm Beach that generated a record $2.5 million. Until claimed, these funds are deposited into Florida’s school fund for the benefit of public education.

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About CFO Jimmy Patronis 
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and X (@FLDFS).