News & Updates

Florida Department of Financial Services

DFS Sees Increase in Questionable Agency Names After ACA

DFS Sees Increase in Questionable Agency Names After ACA

The Florida Department of Financial Services (DFS) recently advised in its Insurance Insights publication that it has seen an increase in the number of potentially misleading agency names following the enactment of the Affordable Care Act.  Under Florida law, an agency cannot have a name that would be potentially misleading or deceptive.  For example, agency […]

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DFS Reminds Adjusting Firms to Designate Primary Adjuster

DFS Reminds Adjusting Firms to Designate Primary Adjuster

The Florida Department of Financial Services reminds adjusting firms that the primary adjuster law requires each person operating an adjusting firm, and each location of a multiple location adjusting firm, to designate a primary adjuster for each such firm or location.  The law defines a primary adjuster as the licensed adjuster who is responsible for the hiring […]

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DFS Cautions Against Unauthorized Charges

DFS Cautions Against Unauthorized Charges

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 […]

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CFO Names New Insurance Consumer Advocate

CFO Names New Insurance Consumer Advocate

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 […]

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DFS Issues Guidance to Agents Using Virtual Office

DFS Issues Guidance to Agents Using Virtual Office

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 […]

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DFS Urges Due Diligence When Retaining Licensees

DFS Urges Due Diligence When Retaining Licensees

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 […]

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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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