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DFS Reminds Agencies that Inspection Referral Fees are Prohibited

DFS Reminds Agencies that Inspection Referral Fees are Prohibited

The Florida Department of Financial Services has issued a reminder to insurance agents and agencies that referral fees for inspectors are prohibited.  DFS points out that an insurance agent, customer representative, or agency employee is prohibited from directly or indirectly accepting any compensation, inducement, or reward from an inspector for the referral of the owner of the inspected property to the inspector or inspection company.  The prohibition applies to an inspection intended for submission to an insurer for underwriting or rating purposes.  DFS points interested parties to Section 626.621(15), Florida Statutes, for details.