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DFS Summarizes Agent in Charge Requirements

DFS Summarizes Agent in Charge Requirements

The beginning of a new year is a good time to revisit the “agent in charge” requirement applicable to agency locations.  The Department of Financial Services has helped facilitate this review with a recent summary of the agent in charge requirements and responsibilities. Designation of Agent in Charge–  Each person operating an insurance agency, and […]

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DFS Discusses Differences Between Referral Fees, Advertising Gifts and Unlawful Inducements

DFS Discusses Differences Between Referral Fees, Advertising Gifts and Unlawful Inducements

The Department of Financial Services recently published a short article in its Insurance Insights newsletter relating to what constitutes a referral fee, marketing or advertising gift, or unlawful inducement.  Insurance licensees will recognize these labels from references to them in the Unfair Insurance Trade Practices statute (Section 626.9541) and Section 626.112(8).  Although each situation is fact-specific and […]

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