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Inicio del Departamento | Inicio de Agentes y Agencias | Inicio de Insurance Insights

  Vol. 7, No. 3, April 2019

In The Know


Public Adjusters - Are You Ready For Hurricane Season?

With less than 60 days until the start of Hurricane Season, now is the time to be sure your license is in compliance - not when a storm is heading our way! This is a short checklist to ensure your license is in good standing:

-Is your license active?
-Are you self-appointed or appointed by an adjusting firm?
-Do you have the required $50,000 surety bond?
-Are you compliant with your continuing education requirements?
-Has a primary adjuster been designated for your firm?
-Is all contact information up-to-date? You can update it at Mi Perfil.
-Are any apprentices licensed and appointed?
-Do you have your Department issued license with you?

We urge all Public Adjusters and firms to review Florida Statutes Chapter 626, Part VI and Rule Chapter 69B-220, F.A.C to ensure you understand the laws and rules which regulate your license.


Reminder from the Florida Surplus Lines Service Office: Florida Hurricane Catastrophe Fund (FHCF) Assessment Ended 3/31

All outstanding endorsements to policies which were effective between January 1, 2007 and December 31, 2014, when the FHCF assessment was applicable, should have been filed by March 31, 2019. Effective April 1, 2019, any submissions previously filed where the FHCF assessment was applied that may have current endorsements to be filed, will not have the FHCF assessment charged or returned.

Ejemplo:

A renewal effective 3/1/2014 in the amount of $2,500 was filed 3/13/2014 and assessed $125.00 taxes, $5.00 service fee, and $32.50 for the FHCF assessment.

On 4/5/2019, you identify an unfiled return premium in the amount of $500 that should have been filed. When this is filed on 4/5/2019, taxes ($25.00) and service fees ($1.00) will be credited - no FHCF will be credited.

Invoices for first quarter submissions went out on Monday, April 1, 2019. All payments are due no later than May 15, 2019 and any refund requests for FHCF credits must be received by our office no later than April 30, 2019.

For more information and further instructions, read issued bulletin or contact the FSLSO Accounting Department at 800-562-4496, option 4, or accounting@fslso.com.

Note: Content of this reminder was provided by the Florida Surplus Lines Service Office.


Verify before you sellAgents should always verify the companies they sell for are authorized to do business in Florida. If you suspect an entity is not authorized to transact insurance in Florida, please notify our office.
Call 877-MY-FL-CFO (1-877-693-5236).

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Reporting Title Agency Locations to the Department

Title agencies are not required to have separate branch licenses (though some still have them). The license of the main office may be used for each branch location, which means that a violation discovered at one branch could affect all the locations. Branch offices that perform closing services only do not need to be licensed and do not need a licensed agent at that location.

The agent in charge can be the same as another location as long as there are not any title insurance transactions taking place while the agent in charge is not present unless another licensed and appointed title agent is present at that location.

Title agencies (including any branch offices) are subject to the provisions of section 626.0428, F.S. Each branch location that does title insurance work must designate an agent in charge and notify the department of the identity of the person and Florida license number designated as well as the location of the branch. The easiest way to notify the Department of this required information is by email to AgentLicensing@MyFloridaCFO.com.


Confidentiality of Investigative Records

Department investigative records are considered privileged and confidential and are exempt from Florida's Public Records Law unless the Department or Office files a formal administrative complaint, emergency order, or consent order against the individual or entity. (s. 626.601(6), F.S.)


Online Sunshine

The 2018 Florida Statutes are available online. The Florida Statutes can be viewed at Online Sunshine


How Puzzling

Crossword Puzzle

Across
2. 81.5% of Hurricane Michael ______ are closed.
4. Insurance _______ Helpline recovered over $40.5 million for FL consumers in 2018.
6. Title Agency Data Call filing deadline is ____, 31 2019.
8. ALL insurance agencies are required to be open and _______ to the public.
Down
1. Operation Return the ______ aims to return medals of veterans to their owners or heirs.
3. Fraud _____ Florida initiative
5. Hurricane season begins in less than ____ days.
6. _____ Moss Warranty Act
7. Appointments made last hurricane season are likely to _______ before June 2, 2019.
8. Refund requests for FHCF credits must be received by ______, 30 2019.

The answer key is found on the Education Central page.

Legal Notices © 2018 Florida Department of Financial Services