Some License-Related Penalties Would Be Increased Under Proposed Guidelines for Insurance Representatives
Jan 28, 2010
The Florida Department of Financial Services (“DFS”), Division of Agents and Agency Services held a Rule Development Workshop today, January 28, 2010, relating to penalty guidelines for insurance representatives. The following proposed Rules were reviewed:
69B-231.080: Penalties for Violation of Section 626.611
69B-231.100: Penalties for Violation of Subsection 626.9541(1)
69B-231.110: Penalties for Violation of Other Specific Provisions of the Florida Insurance Code
69B-231.160: Aggravating/Mitigating Factors
The Workshop focused on reviewing proposed changes to regulations that govern the license suspension and revocation of adjusters, insurance agents, customer representatives and service representatives.
The proposed amendments would both add new regulations adopted by the Florida Legislature and delete laws that have been repealed. Penalties would be increased for violating certain laws in order to reflect the DFS’ experience in dealing with the frequency and severity of these violations.
DFS Assistant General Counsel Beverly Hays presided over the Workshop. To view the meeting notice, click here. The complete text of the proposed Rules is attached.
Ms. Hays briefly reviewed the proposed Rules, noting changes to the definitions of “crimes of moral turpitude” and other law enforcement Rules.
Proposed Rule 69B-231.030 makes changes to penalties for violations of the Florida Insurance Code. Proposed Rule 69B-231.160 amends regulations relating to aggravating and mitigating factors.
Also reflected in the Rule amendments are statutory changes relating to unfair trade practices, fraudulent signatures, unlawful use of agent qualifications and agent admissions.
Ms. Hays noted that the proposed Rules are expected to be adopted quickly.
The record will remain open for seven days for additional written comments.
Should you have any questions or comments, please contact Colodny Fass.
To unsubscribe from this newsletter, please send an email to firstname.lastname@example.org.