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The Florida Department of Financial Services (DFS) reminds insurers that the customer representatives they supervise have limited authority under the insurance code. DFS points out that general lines agents and their customer representatives sometimes “blur the lines” relating to the customer representatives’ authority. Agents should pay particular attention to Chapter 626, Part II General Lines Agents. […]
The Florida Department of Services (DFS) conducted a workshop on Friday to receive comments to its proposed revisions to Rule Chapter 69B-231. These rules set forth penalty guidelines for various misconduct by agents, adjusters and other licensees. In instances where DFS has discretionary authority to suspend a licensee’s license, the rule identifies the suspension periods […]
Questions regarding the permissible fees that a Florida agent may charge are among the most common we see. Likewise, the Florida Department of Financial Services frequently receives questions from agents about the fees they may charge. DFS recently published the following summary of fees that may be lawfully charged by a general lines agent: MVR […]
The Department of Financial Services recently issued a reminder relating to its view of charitable contributions made by licensees. This is a subject that arises from time to time, wherein licensees such as insurance agents want to show their support for charities. DFS certainly does not want to deter agents from being actively involved in […]
The Florida Department of Financial Services (DFS) recently published a reminder relating to restrictions on referrals fees. DFS notes that it commonly receives questions about referral fees and periodically publishes guidance to remind licensees of applicable requirements. According to DFS, an agent may pay an unlicensed person for referrals of potential clients as long as […]
One of the questions we receive from time to time is whether certain activities require an individual or business to obtain an agents’ license in Florida. The Florida Department of Financial Services recently addressed this in a short article describing what it means to “transact” insurance in Florida. In general, a person must obtain an […]
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 […]
