News & Updates

Department of Financial Services

DFS Discusses Revisions to Agent Penalty Rules

DFS Discusses Revisions to Agent Penalty Rules

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 […]

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Law Change Removes Managing General Agency License Requirement

Law Change Removes Managing General Agency License Requirement

A law change adopted in the 2018 legislative session and affecting managing general agents took effect July 1, 2018.  With this law change, the Florida Department of Financial Services will no longer issue managing general agents’ licenses.  However, individuals and firms currently holding licenses will be allowed to keep them. Going forward, individuals acting as […]

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Law Firms Seek Review of Insurance Public Records Determination

Law Firms Seek Review of Insurance Public Records Determination

Two law firms have asked the Florida Supreme Court to review a recent 1st DCA decision relating to the availability of certain public records maintained by the Florida Department of Financial Services.  The litigation initially arose over the firms’ access to contact information for consumers participating in state-operated neutral evaluation or mediation programs.  In the […]

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DFS Requests Updated Licensee Information Upon Change of Control

DFS Requests Updated Licensee Information Upon Change of Control

The Florida Department of Financial Services indicates that if a licensee under Chapter 626 undergoes a change in ownership or control, or if a new partner, officer or director is named, the licensee must file fingerprints for the new owner, partner, officer or director within 30 days of the change. DFS advises that the scope of […]

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DFS Reminds Agents to Display Licenses

DFS Reminds Agents to Display Licenses

The Florida Department of Financial Services reminds Florida insurance to make sure their licenses are prominently displayed within their offices.  DFS refers to Section 626.172, Florida Statutes, providing that a licensed insurance agency is required to display the Department-issued agency license prominently and such that the license is clearly visible to any customer or potential […]

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Session Might Bring Updated Trade Secret Process

Session Might Bring Updated Trade Secret Process

The insurance industry should stay tuned in the 2018 session for potential updates to Florida’s trade secret laws.  Insurers are familiar with Section 624.4213, which creates a process for protecting information submitted to the Office of Insurance Regulation or the Florida Department of Financial Services.  Although the current law has been helpful in creating a […]

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OIR Updates Irma Response

OIR Updates Irma Response

Insurance Commissioner David Altmaier provided updates to the Florida Senate and House of Representatives committees responsible for overseeing insurance issues.  Commissioner Altmaier began by summarizing steps the OIR took prior to Hurricane Irma to prepare for the event and provide information to insurers.  These steps included press releases and other consumer-oriented communications, outreach to insurers […]

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Who Appoints Whom?

Who Appoints Whom?

Florida’s requirements relating to appointments can be confusing.  Here’s a quick summary of the individuals or entities who can make appointments under the insurance code: Insurance companies can appoint agents and insurance company employee adjusters. Licensed and appointed general lines agents can appoint customer representatives, crop hail and multi-peril crop agents. Adjusting firms can appoint […]

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Special Ethics Provisions Apply in States of Emergency

Special Ethics Provisions Apply in States of Emergency

With hurricane season now being only a month away, the Florida Department of Financial Services (DFS) has taken the opportunity to remind licensees of unique claims adjusting requirements that apply during states of emergency.  The Governor typically will declare a “state of emergency” during a hurricane affecting Florida.  Among other things, the declaration of an emergency invokes […]

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