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Consumer Alerts


The Division of Consumer Services has provided a list of suggestions to the National Association of Insurance Commissioners on steps to improve the recovery process for disaster victims, stating: "Every dollar spent on insurance must count, and policyholders must be able to count on their insurance coverage." Click here to read the list of suggestions.

The Florida Department of Financial Services' Division of Consumer Services continuously monitors the insurance and financial industry to inform and protect consumers from various financial scams designed to steal your hard-earned money. If you or someone you know has been a victim of a financial scam please call 1-877-MY-FL-CFO (639-5236) or REPORT FRAUD now. To view a listing of common Fraud and Scams, click here.

Lottery Scam: The Florida Lottery reported that scammers have been sending emails using the department's logo and letterhead claiming the recipient has won a monetary prize. To claim a share of the funds, the email requests that the recipient contact the person listed, provide financial information and pay taxes.

Florida Lottery officials will not contact players unless they have entered a game or drawing on the official Florida Lottery website or social media sites. Remember, you can’t win if you didn’t enter. To report a lottery scam, contact the Florida Lottery's Division of Security at 850-487-7730. If you or someone you know has been a victim of a financial scam please call 1-877-MY-FL-CFO (639-5236) or REPORT FRAUD now.

American Debt Settlement Solutions, Inc. (ADSS): The Consumer Financial Protection Bureau has filed a complaint in federal district court against Florida debt-relief company American Debt Settlement Solutions, Inc. (ADSS) alleging that the company misled consumers by charging illegal fees for their services. ADSS is accused of routinely charging illegal upfront fees for debt-relief services that rarely, if ever, materialized. Other charges include falsely promising to settle debts within a specific timeframe and enrolling consumers who were not likely to successfully complete their programs causing further debt. Read more...

Unauthorized and Unlicensed Sale of Insurance in Florida: Two Michigan-based insurance companies, iWorld Financial Group (iWorld) and United Defend Company a/k/a United Defendco (UDC), have been ordered to stop engaging in the unauthorized and unlicensed sale of insurance in the state of Florida. The companies offered, issued and/or administered errors and omissions coverage to insurance agents in Florida without a license. These actions were done through Facebook and the following websites: www.iworldfinancialgroup.posterious.com, www.uniteddefendco.com, and www.eando4less.com. Read more…

Mulberry Insurance Services: We have encountered an insurance agency located in California who sold commercial property and liability policies in Florida without being licensed. The policies sold were bogus. Please call the Departments' Insurance Consumer Helpline at 1-877-MY-FL-CFO (693-5236) if you believe you or someone you know may have purchased a policy from this agency. As always, please verify the product you are purchasing before you buy it.

Annuity Solicitation Scam: An unlicensed company named Unlimited Fulfillments Services, LLC has been contacting seniors about an annuity they may have that has reached the end of its surrender period. Misleading postcards sent to these consumers advise that they needed to contact the company's "Scheduling Department" to discuss options. This company is not licensed to transact insurance business in Florida, and the Florida Department of Financial Services has filed a Notice of Intent to Issue Cease and Desist Order against the company. Read more...

National Sweepstakes' Scam: A company calling themselves National Sweepstakes has contacted a senior consumer in South Florida claiming to require payments to the IRS in order to collect her $1 million-plus prize. Legitimate lotteries do not ask for money up front to collect winnings, and it should always be a red flag if you have been notified of winning a lottery for which you never submitted an entry. Read more...

Unclaimed Property Scam: A company calling themselves The Florida Department of Financial Restitution has been contacting consumers claiming to be on contract with the Department of Financial Services and trying to collect a $600 upfront fee to recover unclaimed property. There is no legal entity named The Florida Department of Financial Restitution, and consumers should not agree to this offer, sign a contract or send any money to the Florida Department of Financial Restitution. Read more...

Stranger Originated Life Insurance (STOLI): A new marketing arrangement involving life insurance and annuities. It may be marketed under the title spin-life, charity-owned, investor-initiated life or option-life insurance. However, it is marketed; it involves a stranger or group of strangers that profit from the death of the insured. Read more...