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626.112

DFS Distinguishes Referral Fees, Marketing Gifts and Inducements

DFS Distinguishes Referral Fees, Marketing Gifts and Inducements

From time to time we receive questions about the various types of referral fees, inducements or other incentives that licensees encounter in the market.  The Florida Department of Financial Services reportedly receives these types of inquiries as well as recently published its interpretation of distinctions between referral fees, marketing gifts, and inducements.  DFS characterized these […]

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DFS Discusses Differences Between Referral Fees, Advertising Gifts and Unlawful Inducements

DFS Discusses Differences Between Referral Fees, Advertising Gifts and Unlawful Inducements

The Department of Financial Services recently published a short article in its Insurance Insights newsletter relating to what constitutes a referral fee, marketing or advertising gift, or unlawful inducement.  Insurance licensees will recognize these labels from references to them in the Unfair Insurance Trade Practices statute (Section 626.9541) and Section 626.112(8).  Although each situation is fact-specific and […]

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