Insurance Insights header
Volume 2, No. 1 - January 2013

In The Know

- Keeping you informed is what it's all about

The 2013 Annual Title Administrative Surcharge is Due

Subsection 624.501(27)(e)2, Florida Statutes, requires any title insurance agency licensed in Florida to annually remit an administrative surcharge of $200 to the Florida Department of Financial Services. Therefore, we are reminding all title agencies that the 2013 administrative surcharge is due. All title insurance agencies licensed in Florida were emailed reminding them to make payment via the title agency's MyProfile account. Failure to pay the surcharge will result in administrative action and/or a fine of $500, in addition to the original surcharge. To assure that your payment is properly credited, please log in to your title agency's MyProfile account and make payment if you have not already.

Fingerprinting Process Change for Non-Residents

The Department recently made changes to its fingerprinting process for non-residents and will no longer mail nor accept fingerprint cards.

If you are required to be fingerprinted, you must do so through Florida's vendor, MorphoTrust USA, formerly L-1 Enrollment. Applicants can register, request fingerprint cards to be mailed to them, and pay for fingerprinting by visiting www.L1enrollment.com/FLInsurance or by calling 1-800-528-1358. The fingerprinting fee is $55.50.

After payment is made to MorphoTrust USA, they will send nonresident applicants a fingerprinting packet. In the packet, there will be instructions and two fingerprint cards with a pre-printed label generated by the information provided when the applicant registered online with MorphoTrust USA.

The results of an applicant's fingerprint-based criminal history check will be submitted electronically to the Florida Department of Financial Services. Once the license application is complete, the Department will notify the applicant the status of their application by email and their MyProfile account.

Special Note: The Department of Financial Services no longer provides fingerprint cards. Applicants/entities must register and pay for fingerprinting to MorphoTrust USA so they may send you cards. Please do not mail fingerprint cards to the Florida Department of Financial Services. Completed fingerprint cards should be mailed to:

Prints, Inc.
MorphoTrust USA Florida Card Scan Operations
119 East Park Avenue
Tallahassee, FL 32301

If the first fingerprint submission is returned as illegible, MorphoTrust USA will use the second fingerprint card submitted. This is important as to why both of the completed fingerprint cards should be submitted to the address above.

For any questions regarding this, please visit our website at www.MyFloridaCFO.com/Division/Agents.

Don't Be Scammed When Obtaining Leads

The Department has received a number of complaints in the last few weeks from agents who purchased leads from online lead marketing companies and never received the leads. One agent purchased about 200 leads for more than $500. The marketing company promised the leads they were selling were from "high asset" individuals who had requested contact by a local "investment advisor". When the agent did not receive the leads as promised, he repeatedly contacted the marketing company by phone, but his calls went unanswered.

We urge all licensees to use extreme caution when dealing with lead generation companies. Although there are legitimate companies operating in the marketplace, it is prudent to verify the legitimacy of the marketing company before purchasing anything from it, including looking up the company at the appropriate Better Business Bureau location. The Department does not have regulatory authority over these type of companies so we are unable to intercede in purchase disputes. Performing due diligence before you make a purchase will help you avoid lead scams.

Notice of Workers' Compensation Exemption Law Change

The Florida Legislature passed and the Governor signed into law CS/HB 941, which amended Sections 440.02(9) and 440.05, Florida Statutes.

Non-construction industry employers with four or more full-time or part-time employees must provide coverage for all employees. Effective July 1, 2013, the law changes to include Limited Liability Company (LLC) members as employees. LLC members will be included on their Workers' Compensation insurance policy; however, they may elect to be exempt by filing a Notice of Election to Be Exempt with the Division of Workers' Compensation (Division).

The Division's Notice of Election to be Exempt web-based system is available for applicants to electronically apply for or renew their Certificate of Election to be Exempt. To access the system, go to the Division's website at www.MyFloridaCFO.com/WC and select the "Apply for an Exemption" icon.

If you have any questions, please contact the Division's Customer Service Representatives at (850) 413-1609, or you may participate in a Division-sponsored webinar. Several webinars are scheduled during February 2013. Please visit their website or email BocSeminars@MyFloridaCFO.com for more information.