Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
The Florida Department of Financial Services has reminded agencies that each insurance agency, and each location of a multiple location agency, must have a designated agent in charge. The agent in charge (AIC) is defined as the licensed and appointed agent responsible for the supervision of all individuals within an insurance agency. Each business location […]
The Florida Department of Financial Services reminds insurance agencies that location may not conduct the business of unless an “agent in charge” is designated by, and providing services to, the agency at all times. If the agent in charge designated with DFS ends his or her affiliation with the agency for any reason, the agency’s […]
The Florida Department of Financial Services has identified its ten most frequently investigated allegations of 2015. DFS produces this list to illustrate the frequency of violations with significant regulatory implications and hopefully cause licensees to review their compliance: Licensing Violations Material misstatement, misrepresentation, or fraud in obtaining a license or appointment. Soliciting or transacting insurance business […]
The beginning of a new year is a good time to revisit the “agent in charge” requirement applicable to agency locations. The Department of Financial Services has helped facilitate this review with a recent summary of the agent in charge requirements and responsibilities. Designation of Agent in Charge– Each person operating an insurance agency, and […]
For a variety of reasons, an agent operating an insurance agency might find it necessary to close the agency’s operations. The Florida Department of Financial Services (DFS) recently identified three key steps that agents might overlook when closing an agency in Florida. Surrender the agency license. First, DFS points out that the agent will need to […]
