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DFS Discusses Fee for Health Policy Services

DFS Discusses Fee for Health Policy Services

The Florida Department of Financial Services (DFS) reminds Florida health insurance agents that they may enter into contracts with consumers to charge a flat fee in lieu of receiving commissions from the insurer for individual health policies.  This opportunity arises under the new SB 1386 passed in the 2016 legislative session.  DFS attributes the introduction of […]

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DFS Advises as to Agents’ Rights Following Termination of Appointment

DFS Advises as to Agents’ Rights Following Termination of Appointment

The Department of Financial Services advises that it frequently receives inquiries from agents whose appointments with insurers have terminated.  These agents often ask what they are legally allowed to do for customers relating to policies transacted before termination of the appointment.  According to DFS, following the termination of an appointment as to an insurer, the agent may continue to service, and […]

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DFS Kicks Off New Year With Compliance Reminders

DFS Kicks Off New Year With Compliance Reminders

The Florida Department of Financial Services is reminding licensees about key compliance issues as we ring in 2016.  According to DFS, advertising issues are among the most commonly investigated.  The insurance code generally prohibits advertising that is untrue, deceptive, or misleading.  With respect to life and health advertising, DFS reminds licensees that advertising materials must […]

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DFS Encourages Licensees to Update Addresses

DFS Encourages Licensees to Update Addresses

The Florida Department of Financial Services recently highlighted the need for agents to updated their addresses in its Insurance Insights publication.  In particular, DFS noted that many life and health agents work from home but lease the opportunity to use conference rooms for meeting with clients outside of their homes.  In these cases, the agents […]

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PIP Reform and Other Insurance Bills Head to Governor

PIP Reform and Other Insurance Bills Head to Governor

Governor Rick Scott was presented with several insurance-related bills on Friday, perhaps most notably including the bill reforming Florida’s Personal Injury Protection (PIP) laws.  These bills passed during the recent legislative session.  The Governor has 15 days from receipt of the bills to decide whether to sign them into law, allow them to become law […]

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