News & Updates

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New Notice Required for Insurers Using Credit Reports

New Notice Required for Insurers Using Credit Reports

Effective January 1, 2022, insurers using credit reports or credit scoring for underwriting or rating purposes must provide a new notice to consumers.  The notice must state: The Department of Financial Services offers free financial literacy programs to assist you with insurance-related questions, including how credit works and how credit scores are calculated.  To learn […]

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DFS Reminds Agencies that Inspection Referral Fees are Prohibited

DFS Reminds Agencies that Inspection Referral Fees are Prohibited

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 […]

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