The Pulse
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Volume 2, No. 1 - February 2011   
 
Case Notes

The following are instances in which licensees or other persons violated the Florida Insurance Code and the administrative action the department has taken against them.

Note: All administrative investigations are subject to referral to the Division of Insurance Fraud for criminal investigation.


Case: An investigation of a surplus lines, life, health and general lines agent alleged that she was adjudicated guilty of an insurance-related felony and failed to provide a change of home and business address to the Department.
Disposition: License revoked and permanently barred.

Case: An investigation of a title insurance agent and her agency alleged that she engaged in 3 deliberate acts of misappropriation that totaled more than $43,000 in losses to Florida consumers, failed to provide proof that a replacement surety bond had been secured, and failed to pay the annual administrative surcharge.
Disposition: Licenses of the title agent and agency were revoked.

Case: An investigation of a life and variable annuity agent alleged that he misrepresented the terms and benefits of an annuity contract, disseminated a letter that contained deceptive and misleading information, issued fraudulent documents to an insured, and failed to submit a change in home, business, and mailing addresses to the Department.
Disposition: License revoked.

Case: An investigation of an insurance agency alleged that one of its officers failed to return unearned premium to an insurer in the amount of $1,153.99, issued false certificates of insurance, misappropriated fiduciary funds in excess of $20,000 collected in the normal course of business, and failed to submit a change of business address to the Department.
Disposition: License revoked.

Case: An investigation of a life including variable annuity and health agent alleged that he misappropriated fiduciary funds collected in the normal course of business, failed to forward an application and premium to an insurance company, and provided fraudulent statements to a senior citizen to evidence insurance that did not exist.
Disposition: License revoked.

Case: An investigation of a title insurance and automobile warranty agent alleged that she knew or should have known that her mother was conducting the business of insurance without a license at her agency, and that she demonstrated a lack of adequate knowledge and technical competence regarding commercial insurance, thereby violating the insurance code.
Disposition: License revoked.

Case: An investigation of a life including variable annuity and health agent alleged that she aided and abetted an unauthorized insurer.
Disposition: License surrendered for 24 months.

Case: An investigation of a life including variable annuity and health agent alleged that he misrepresented the terms and conditions of four annuities sold to consumers, two of which were unsuitable for senior citizens, and failed to properly license his insurance agency.
Disposition: License suspended for 24 months.

Case: An investigation of a life including variable annuity and health agent alleged that he violated a 1998 revocation order when it was determined he transacted insurance and continued to maintain ownership of his insurance agency while his license was revoked.
Disposition: License suspended for 18 months and will be placed on probation for one year when reinstated.

Case: An investigation of a life including variable annuity and health agent alleged that he unlawfully shared commissions with another individual.
Disposition: License suspended for 3 months, fined $2,500, and will be placed on probation for six months when reinstated.

Case: An application for a public all lines insurance adjuster license filed was initially determined to be denied based upon the applicant's failure to disclose that while he was licensed as a public adjuster apprentice, he held himself out as a public adjuster and solicited public adjusting business prior to being properly licensed as a public adjuster.
Disposition: License granted and fined $5,000.