Titular de Insurance Insights
Volume 2, No. 2 - March 2013

Noticias Útiles

- Updating you on what's going on

El Oficial Principal de Finanzas Anuncia Revocación Permanente de la Licencia de Estafador de Adultos Mayores en el Condado de Volusia

Florida Chief Financial Officer Jeff Atwater announced the permanent license revocation of insurance agent Kenneth Mauchin, 48, of Sanford, following an investigation by the Florida Department of Financial Services' Division of Agent & Agency Services that alleged he misappropriated client funds of persons age 65 or older. Last month, he also pleaded no contest to charges of exploitation of the elderly and grand theft. He was sentenced to 13 months in state prison and eight years of probation and ordered to repay more than $44,000 he scammed from three elderly citizens.
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CFO Jeff Atwater's 2013 Legislative Agenda Focuses on Core Principles: Transparency, Consumer Protection, Fighting Fraud and Reducing Government to Promote Economic Prosperity

Continuing his commitment to the principles that have marked his first two years in office, Florida Chief Financial Officer Jeff Atwater announced his 2013 legislative agenda. CFO Atwater will advocate for reforms that increase government transparency and accountability, protect Florida's consumers, fight fraud, get government off the backs of hardworking Floridians and foster economic prosperity.
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Statement from CFO Atwater Regarding Citizens' Plans to Comply with State Procurement Requirements

Florida Chief Financial Officer Jeff Atwater released a statement regarding Citizens Property Insurance Corporation's plans to comply with state procurement guidelines outlined in section 287.057, Florida Statutes.
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CFO Atwater Announces Arrests of Miami Public Adjuster and Four Others in Property Insurance Fraud Scheme

Florida Chief Financial Officer Jeff Atwater announced the arrest of Miami public adjuster Roberto Alvarez, 44, for allegedly submitting more than $270,000 in fraudulent homeowners insurance claims. Also arrested were four homeowners whom Alvarez recruited to participate in the scheme to defraud.
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FSLSO Service Fee to Increase from 0.1% to 0.2%

The service fee charged by the Florida Surplus Lines Service Office (FSLSO) will be increased from 0.1% to 0.2% effective April 1, 2013.

All new and renewal policies/certificates with an effective date on or after April 1, 2013 will incur a service fee of 0.2% of the total gross premium as defined in Florida Statute 626.9325. All new and renewal policies/certificates with an effective date prior to April 1, 2013 will incur a service fee of 0.1% of the total gross premium. The service fee percentage charged on the premium is based on the effective date of the policy; the FSLSO service fee is applicable to single state Florida policies only.

The service fee for all endorsements, audits, installments, cancellations or return of premium transactions applicable to policies/certificates effective prior to April 1, 2013 will be the same percentage as the inception date of the policy/certificate being endorsed.

Again, the service fee percentage charged on the premium is based on the effective date of the policy. For an electronic copy of the service fee bulletin, please visit: http://www.fslso.com/publications/news.aspx?ID=521.

For further information contact the FSLSO toll-free at 1-800-562-4496 or visit www.fslso.com.

Florida CFO Jeff Atwater Launches Financial Frontlines Website

Florida CFO Jeff Atwater invites military servicemembers and their families to learn more about how to protect their Financial Frontlines. Though military servicemembers are well-trained for the physical dangers of protecting our nation, they may not be fully prepared for the financial risks that they may face.

El sitio web Financial Frontlines provides information and resources to help military servicemembers fight back against financial fraud and debt, including information and educational videos related to:

  • Identity theft
  • Ley de Ayuda Civil para Militares
  • Credit scoring
  • Budgeting & saving
  • Predatory lending

Para obtener información adicional visite www.MyFloridaCFO.com/YMM/FinancialFrontlines or call the Department's Consumer Helpline at 1-877-My-FL-CFO (1-877-693-5236).

Florida Office of Financial Regulation Warns Florida Investors About Possible Fraud with Online, Overseas Investments

The Florida Office of Financial Regulation (OFR) in collaboration with 13 other states is warning consumers to be aware of potential fraud related to investments sold by an international company, Profitable Sunrise.

Profitable Sunrise is promoting risk-free loans that promise investors a 2.15% daily return on investments. Seven states have issued Cease and Desist orders to the company’s officers, Roman Novak and Radoslav Novak, for selling investments without being properly registered and for omitting or misrepresenting facts on the company’s website. Profitable Sunrise is not registered with the OFR to sell securities.
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Make Sure You Don't Miss Important Information From Us

Add our domain MyFloridaCFO.com to your email software's Trusted or Safe Senders List to ensure you are able to receive all notifications from us. Licensees who have a valid email address on file with the Department, as required by law, receive important email notifications when something that affects their application, license, continuing education, or appointment(s) occurs. Additionally, we will keep you informed with warnings regarding new schemes and scams being marketed to licensees. You can update your contact information through your Mi Perfil account. We want to keep you informed in a timely manner of pertinent information. You are still required to abide by the Florida Insurance Code regardless of whether you read the information we provide or attempt to provide.