News & Updates

Florida Insurance Code

DFS Reminds Agents About Surplus Lines Diligent Effort Requirement

DFS Reminds Agents About Surplus Lines Diligent Effort Requirement

The Florida Department of Financial Services (DFS) took the opportunity in its recent Insurance Insights newsletter to remind agents of the diligent effort requirement in the Surplus Lines Law.  DFS points out that one of the stated purposes of the Surplus Lines Law is to protect authorized insurers from unwarranted competition by unauthorized insurers who are […]

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Omnibus Bill (HB 165) Signed Into Law

Omnibus Bill (HB 165) Signed Into Law

In the 2015 session, House Bill 165 became the vehicle that carried a variety of changes to the Florida Insurance Code.   The bill passed both chambers of the legislature and now has been signed into law.  Key provisions of the bill take effect July 1.  Among its provisions, the new law: Eliminates the requirement for insurers […]

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DFS Proposes Changes to Licensee Penalty Rules

DFS Proposes Changes to Licensee Penalty Rules

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 […]

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Personal Lines Forms Certification Process to End

Personal Lines Forms Certification Process to End

As 2013 draws to a close, so will the process by which personal lines insurers may certify their forms’ compliance with the Florida Insurance Code.  Through a series of orders, the Office of Insurance Regulation has allowed property and casualty insurers in most lines of business to certify their forms’ compliance with applicable requirements, thereby […]

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Florida Seeks to Revise Holding Company Requirements

Florida Seeks to Revise Holding Company Requirements

 One of the Florida Office of Insurance Regulation’s (“FLOIR”) priorities for the 2013 legislative session is to have the legislature adopt the National Association of Insurance Commissioners’ holding company model act.  Florida’s holding company registration requirements have remained largely unchanged for many years and no longer are consistent with requirements being adopted in other jurisdictions […]

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Insurance “Train” Bill Becomes Law

Insurance “Train” Bill Becomes Law

Governor Rick Scott has signed HB 1101 into law, and it has become Chapter Law 2012-151.  This is the insurance “train” bill that picked up a wide variety of insurance-related measures as it progressed through the 2012 regular legislative sesion. The new law is varied in its impact on the Florida Insurance Code.  It contains […]

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Insurer Report Card Rule Re-Proposed

Insurer Report Card Rule Re-Proposed

The Financial Services Commission has republished notice of proposed rulemaking relating to an insurer report card rule.  The current version of the rule was scheduled to be presented to the Financial Services Commission at its August 26, 2010 meeting.  However, due to procedural requirements, the rule will not be presented to the FSC at that […]

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