Florida’s insurance industry investigation continued this week with a second legislative hearing, as lawmakers push for accountability following explosive revelations about insurers shifting funds while claiming insolvency.

Despite the conclusion of a second hearing, many legislators believe the investigation is far from over.

At the heart of their concerns is a report that wasn’t shared with the legislature during the height of Florida’s insurance crisis. Lawmakers repeatedly questioned why the Office of Insurance Regulation (OIR) failed to release it.

RELATED: Florida-Based Insurance Companies Suffered Losses While Affiliates Profited, Report Reveals

Commissioner Michael Yaworsky defended the decision, stating the report was still in draft form and not suitable for release.

“We don’t make a business of providing information that we believe to be inaccurate or imperfect to the legislature,” said Yaworsky.

But that claim was challenged in the second hearing. Jan Moenck, the report’s author, testified that her team had completed what they considered a final draft.

RELATED: FL State Lawmaker Calls for Investigation into Insurance Profits

“In our mind, we had our final draft,” Moenck said.

State Rep. Daniel Alvarez (R-Hillsborough County) pressed her on the discrepancy: “It is inaccurate for them to have said you were not finished, so either they weren’t telling us the truth or you weren’t telling the truth. Which one was that?”

Moenck responded that while her team had submitted a final version, it was up to the client—OIR—to determine its readiness for release.

“We provide what we consider a final draft to the client, and it’s their decision how to proceed,” she explained.

The conflicting narratives have sparked deeper questions.

“Will we be going back to OIR, given what’s been revealed essentially says they lied to us?” asked Rep. Dianne Hart (D-Tampa). “They had a completed report and didn’t disclose it.”

Committee Chairman Brad Yeager confirmed that at least one more hearing will be scheduled to address lingering concerns and pursue further clarity.

Meanwhile, Rep. Philip Wayne Griffitts (R-Panama City Beach) has filed HB 881, a bill aimed at improving financial transparency within Florida’s insurance industry in response to the ongoing investigation.

Follow the St. Pete-Clearwater Sun on Facebook, Instagram, Threads, Google, & X

(Image credit: Jackie Llanos/Florida Phoenix)

PIE-Sun.com: local St. Pete-Clearwater news