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In most its recent Insurance Insights update, the Florida Department of Financial Services (DFS) reminded licensees that unlicensed personnel can perform only limited activities within an insurance agency. Rule Chapter 69B-222, Florida Administrative Code, outlines permitted and prohibited activities for unlicensed personnel. The rules focus on ensuring that unlicensed individuals are involved in certain types […]
The Florida legislature is returning to Tallahassee and preparing for its upcoming 2021 legislative session. Several key legislative committees hold hearings this week including the Senate Banking and Insurance Committee. The agenda for this week’s Banking and Insurance Committee meeting consists of presentations by Insurance Commissioner David Altmaier and President and Chief Executive Office of […]
Florida Insurance Commissioner David Altmaier takes over as president of the NAIC effective January 2, 2021. Altmaier succeeds outgoing president Ray Farmer of South Carolina. Commissioner Altmaier has served as Florida’s Insurance Commissioner since 2016. He previously held held several positions within the Florida Office of Insurance Regulation including Chief Analyst of the Property and […]
Florida’s Third District Court of Appeal (DCA) added to a list of cases upholding the ability of policyholders to assign post-loss benefits under insurance policies. The Third DCA reached this decision based on prior caselaw in Florida. However, the court also acknowledged that the Florida legislature revised Florida law in this area after the events […]
In their recent fall meeting, members of the National Association of Insurance Commissioners (NAIC) elected Florida Insurance Commissioner David Altmaier as the NAIC’s next president. Altmaier succeeds outgoing president Ray Farmer of South Carolina. Commissioner Altmaier has served as Florida’s Insurance Commissioner since 2016. Prior to being named Florida’s commissioner, Altmaier has held several positions […]
The beginning of December commences a celebratory time for many Floridians— the Atlantic Hurricane Season ends on November 30 each year. In 2020, we can be particularly thankful to see this hurricane season end. Hopefully this will not be ruined by any post-season storms. The 2020 season set a record for named storms with 30, […]
While the presidential election commands the most attention and dominates the airwaves, a series of proposed constitutional amendments could have significant impacts on Florida politics. Voters are faced with six potential amendments in 2020. This is half the number of amendments that appeared in 2018, but the potential changes could be impactful nonetheless. In Florida, […]
Florida’s Fifth District Court of Appeal (DCA) has certified the following question pertaining to Assignments of Benefits (AOB) to the Florida Supreme Court as a matter of great public importance: Does article X, section 4(c) of the Florida Constitution allow the owner of homestead real property, joined by the spouse, if married, to assign post-loss […]
For a licensee needing additional time to complete continuing education requirements due to the pandemic or otherwise, The Florida Department of Financial Services (DFS) may grant a 90-day extension of time for good cause. “Good cause” means an incident or occurrence which is beyond the control of the applicant and which prevents the completion of […]
The Florida surplus lines tax charged by the Florida Department of Financial Services (DFS) decreased from 5.0% to 4.94% effective July 1, 2020. The reduction applies to all new and renewal policies with an effective date on or after July 1, 2020. The tax applies to the total gross premium as defined in Florida Statute […]
