Volume 3, No. 6 - June 2014

News You Can Use

- Updating you on what's going on

CFO Atwater Announces 16 Arrests for Workers' Compensation Fraud and Unlicensed Contracting Following Undercover Multi-Agency Sting

CFO Jeff Atwater announced 16 arrests for workers' compensation fraud and unlicensed contracting following a three-day undercover operation in Sarasota County. The operation was led by the Florida Department of Financial Services' Division of Insurance Fraud and Bureau of Compliance in partnership with the Florida Department of Business and Professional Regulation, Florida Department of Law Enforcement, Venice Police Department and City Building and Code Enforcement, along with the Sarasota State Attorney's Office. Florida law sets specific rules and guidelines for obtaining professional licensure, and the people who have met these requirements are held to professional standards. Investigators with the Division of Insurance Fraud and the Department of Business and Professional Regulation routinely work to combat unlicensed activity throughout Florida.
Click here to read the press release >>

Notice to Florida Agents Regarding the Liquidation of Sunshine State Insurance Company

On June 3, 2014, Sunshine State Insurance Company ("SSIC") was ordered liquidated by the Second Judicial Circuit Court in Leon County, Florida. The Florida Department of Financial Services is the court appointed Receiver of SSIC. A copy of the liquidation order for SSIC is available on the Receiver's website, www.MyFloridaCFO.com/Division/Receiver.

The Receiver sent notice of the receivership proceedings to all of the SSIC agents of record in order to provide them with information to better assist them in advising the SSIC policyholders who are their clients. As an agent of record, they are advised that the liquidation order significantly affects SSIC's policyholders and legally imposes certain obligations on them. The Florida Department of Financial Services, as Receiver of SSIC expects them to contact their clients who are SSIC policyholders and assist them with any questions they may have regarding the receivership proceeding.

As an agent for SSIC and pursuant to Section 631.341, Florida Statutes, these agents are also expected to provide a written notice of the receivership, by registered or certified mail, to SSIC policyholders whose policies have not been replaced or reinsured with a solvent authorized insurer. At this time, the Receiver intends to send a notice of the liquidation proceedings to all SSIC policyholders. Please note, however, that these agents are still responsible for providing written notice to policyholders under Section 631.341, Florida Statutes.
Click here to read the full text of the notice >>

CFO Jeff Atwater Applauds Governor Scott for Signing Legislation Creating Homeowner Claims Bill of Rights

Florida Chief Financial Officer Jeff Atwater applauded Governor Rick Scott for signing Senate Bill 708 into law, creating a Homeowner Claims Bill of Rights that provides important consumer protections and greater transparency in the insurance claim-filing process. The Homeowner Claims Bill of Rights must be provided to every policyholder who files a claim. The bill of rights will be a simply worded one-page document that references current Florida law about the rights of policyholders in their claims process. It will also inform policyholders about what they should expect during their claims process and provide advice on the steps they should take in the process.
Click here to read the press release >>

Consumer Alert: Unauthorized Use of OFR Branding

The Florida Office of Financial Regulation (OFR) was recently made aware of a scam that involves the unauthorized use of their agency’s name and past branding. The scam was sent to consumers via email in the form of a fake invoice. The invoice details various fees to be paid to collect a large sum of prize money that is allegedly sponsored by the Multi-State Lottery Association (MUSL) and the National Manufacturers Association (NAM). The fake invoice contains logos, names and signatures of several legitimate organizations, which are used without authorization.
Click here to read the press release >>



Make Sure You Don't Miss Important Information From Us

We highly recommend licensees to routinely check their MyProfile account(s) for messages from the Department. We send an email notification at the same time to remind you to check your MyProfile account but on rare occasions you may not receive that email. For that reason, we suggest you add our domain MyFloridaCFO.com to your email software's Trusted or Safe Senders List to ensure you are able to receive email notifications from us. Licensees who have a valid email address on file with the Department, as required by law, are sent 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 MyProfile 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.