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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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
From time to time we receive questions about the various types of referral fees, inducements or other incentives that licensees encounter in the market. The Florida Department of Financial Services reportedly receives these types of inquiries as well as recently published its interpretation of distinctions between referral fees, marketing gifts, and inducements. DFS characterized these […]
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 has issued a reminder to insurance agents and agencies that referral fees for inspectors are prohibited. DFS points out that an insurance agent, customer representative, or agency employee is prohibited from directly or indirectly accepting any compensation, inducement, or reward from an inspector for the referral of the owner […]
