New Changes Regarding Appointments in Florida
The Department of Financial Services (DFS), Division of Agent and Agency Services released information on new changes beginning January 18, 2012 on the appointments and renewals of licensees in Florida. The Department says its focus is on the timeliness and accuracy of information. The changes assess late fees for failing to meet specified deadlines for notification of appointments.
Accuracy of Information – An appointing entity will not be able to appoint or renew a licensee or appointee that has an inaccurate address on file with the Department. This practice is already in place for original appointments, but will now be applicable to renewals starting on January 18, 2012. The addresses included in this are email, home, business and mailing address.
Late Fees – Also beginning January 18, 2012 a statutory $250 late fee will be assessed in addition to the appointment fee for late submissions of original appointments. A late appointment is defined as any appointment that has a requested effective date more than 45 days before the submittal date. Renewals that are late will be assessed a $25 late fee in addition to the renewal fee. These late fees must be paid by the entity making the appointments and cannot be charged back to the licensee.
Notification Process – Additionally, on January 18, 2012, the Department will begin sending e-mail notifications to the appointing entities of those licensees that are up for renewal. The first such e-mail will be generated 90 days before the licensee is up for renewal. The second will be sent on the first day of the renewal month at which time the appointing entity can access the e-Appoint system and make payments. The third e-mail will be sent on the first day of the month following the expiration date of a renewal. This e-mail will include the late fees being assessed in addition to the regular renewal fee.
If the renewal is not made after this 45-day period, the appointment is cancelled and the appointing entity and the licensee will receive an e-mail notifying them that the appointment has been cancelled for non-renewal and outlining the process for reappointment and the late fee.