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The Florida Department of Financial Services has issued guidance to agents regarding unlawful or unauthorized charges. The department advises that it has received an increasing number of inquiries from Florida agents asking if they can charge fees for services ancillary to placing insurance, such as issuing certificates of coverage. The department responds that charging these types […]
Florida’s Chief Financial Officer Jeff Atwater has named Sha’Ron James as the state’s Insurance Consumer Advocate effective August 3. Ms. James most recently has been the Director of the Division of Rehabilitation & Liquidation within the Department of Financial Services. “Sha’Ron’s experience holding insurance companies accountable and her in-depth understanding of the insurance industry raises […]
The Florida Department of Financial Services (DFS) in its Insurance Insights publication has reminded life and health agents using “virtual offices” to list their home addresses as their business addresses on file with DFS if their records are kept at home. DFS notes that many agents do not lease permanent locations but instead rent conference […]
The Florida Department of Financial Services has proposed changes to rule 69B-231.020, which establishes the scope of licensees subject to the penalty provisions of rule chapter 69B-231. The rule currently specifies that the chapter applies to insurance agents, customer representatives, adjusters, navigators and service representatives licensed under Chapter 626 of the Florida Insurance Code. The […]
Subtle changes can have substantial impacts. Or they can just be clean ups. Traditionally, Rule 69D-2.005, Florida Administrative Code, has placed the duty of conducting audits of insurance company SIUs and Anti-Fraud plans with the Office of Insurance Regulation. The plans were to be filed with the Division of Insurance Fraud, located in the Department […]
Florida Legislature, consumer choice, Department of Financial Services, Jeff Atwater, Insurance Regulation
The Florida Department of Financial Services recently published a reminder relating to potential dealings with agents and other licensees whose licenses have been suspended or revoked. DFS points to a provision of the Florida Insurance Code providing that it is unlawful for a former licensee, during his or her period of suspension or revocation of a […]
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 […]
Senate Bill 708, now Chapter Law 2014-86, is perhaps best known for the Homeowners Claims Bill of Rights that personal lines residential insurers will be required to send to policyholders within 14 days of receiving claims. However, the Bill of Rights requirement does not take effect until October 1, 2014. In the meantime, other aspects […]
As with prior legislative sessions, the 2014 session began with a variety of competing proposals affecting Citizens Property Insurance Corporation, many of which were intended to continue efforts to significantly reduce the size of the residual market. However, by the end of the session, the more ambitious proposals such as allowing surplus lines insurers to […]
