Notas de Casos
Case: The Department received a complaint from a managing general agent who reported a bail bond agent refused to pay premiums on executed bonds. The managing general agent provided a list of premiums owed for the transaction.
Investigators met with subject at their office to investigate the transactions in question and review their business practices. Review of the files selected indicated all were incomplete for one reason or another. The bail bond agent was asked to come to the Bureau's field with the documents needed to complete the files. The bail bond agent did not cooperate and no additional documents were provided to investigators.
During the course of the investigation evidence of other violations were noted. Investigator's findings resulted in the subject being charged with failing to designate a primary bail bond agent, executing bail bonds without a designated primary bail bond agent, failure to forward premiums to a surety company and to make payments to the required build-up fund, and failure to maintain a record of all bail bonds executed.
Case: Investigators conducted a follow-up investigation of a suspended title agent to determine if the agent was continuing to transact insurance in violation of the order.
The title agent was charged by the State Attorney with one count of Uttering a Forgery, a first degree felony. A Notice of Temporary Suspension was issued stating that the agent (1) shall not directly or indirectly engage in, or attempt or profess to engage in any transaction or business for which a license or appointment is required (2) directly or indirectly control an agent, agency, adjuster, or adjusting firm, or otherwise participate in the business activities of such person, agency or firm, or (3) issue any checks, deposits and funds, or withdraw any funds from any financial institution account that is used for Florida related insurance business or transactions.
In the course of the investigation, the suspended title agent was found to be conducting business in violation of the suspension order. Investigators determined the suspended agent was using the license of another title agent to issue the title insurance commitments and title insurance policies. The suspended agent split the commissions earned from the title policies with the other agent.
Disposition: The suspended agent administratively surrendered their license. The agent working with the suspended agent was fined $5,000 and placed on probation for one year for aiding and abetting the suspended licensee.
Case: An anonymous complaint was filed with the Department's Division of Investigative & Forensic Services alleging a general lines agent had provided insurance advice and handled an insurance transaction without a license, a third-degree felony in Florida.
Investigators determined the now-licensed agent had substantive insurance-related discussions with consumers via Internet blogs without holding the appropriate insurance license. While unlicensed, the subject participated in an insurance transaction, collected the full premium, but then financed the premium with a premium finance company. To conceal his activities, the subject used the agency address for all insured correspondence.
Disposition: Fined $15,000.
Case: A case was opened after an insurer terminated an agent's appointment for cause. Investigators met with the subject's former employer and discovered the subject had submitted a large amount of business, but many of the premiums were paid by the agent through their personal bank accounts, which is a serious violation of the Florida Insurance Code. The subject also used bank information belonging to commercial policyholders to make payments for fraudulent policies. The agent created policies for businesses that either did not exist or without the policyholder's knowledge or consent.
The agent’s motive for the scheme was to receive advanced commissions. The agency's agent in charge who reported the fraudulent activity was personally charged back $63,000, the agency's share of the fraudulent commissions. During the investigation, fraudulent certificates of insurance were also discovered.
Disposition: The subject failed to cooperate with the Department to settle the matters and was later arrested by the Division of Investigative and Forensic Services on charges of perpetrating a Scheme to Defraud, a second-degree felony. The subject has been indefinitely suspended pending the outcome of the criminal case.