DFS Sees Increase in Questionable Agency Names After ACA
The Florida Department of Financial Services (DFS) recently advised in its Insurance Insights publication that it has seen an increase in the number of potentially misleading agency names following the enactment of the Affordable Care Act. Under Florida law, an agency cannot have a name that would be potentially misleading or deceptive. For example, agency names cannot imply that the agency is an insurance company, governmental agency, or any other national or state organization. DFS advises that it will continue to screen for potentially misleading names and deny applications by agencies with these names.