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.
An investigation of a life, health and variable annuity
agent alleged that he sold a consumer a life insurance policy that named a
trust owned by the agent as the beneficiary. The agent at no point in time
had a familial relationship with the consumer to whom he sold the policy.
Disposition: License revoked.
Case: An administrative
complaint filed against a title agent and her title agency
alleged that she, as the sole officer, failed to maintain a
surety bond, failed to pay title administrative surcharges, and
failed to notify the Department of a change in address.
Disposition: Licenses of agent and agency revoked.
administrative complaint filed against a public
adjuster alleged that he, while president and
director of two public adjusting firms,
misappropriated funds to which his client was
rightfully entitled and failed to designate a
Disposition: License revoked.
An administrative complaint filed against a general lines
agent and his agency alleged that he misappropriated funds
belonging to a premium finance company for his own personal use.
Disposition: Agent license suspended for 12 months with eligibility for reinstatement conditioned upon repayment to the premium finance company of approximately $13,000; agency license suspended three months with eligibility for reinstatement conditioned upon repayment to the premium finance company of approximately $3,300.
Case: An investigation of a
general lines, legal expense, life, health and variable annuity
agent alleged that he issued insurance binders without prior
authority, failed to timely return premiums due insureds, and failed
to maintain proper records.
Disposition: License suspended six months; fined $2,500.
An administrative complaint filed against a life, health and variable annuity agent alleged that an
Acceptance, Waiver and Consent ("AWC") was entered against her by the Financial Industry
Regulatory Authority on or around September 20, 2010, which found and concluded that
in possession of unauthorized study aids, related to the examination subject matter, while taking
the Investment Company and Variable Contracts Products Representative Qualification (series 6)
Disposition: License suspended for 6 months.
An administrative complaint filed against a life, health and variable annuity agent
alleged that he sold an insurance product on behalf of Depawix Health Resources, Inc., an
Disposition: License suspended for 3 months.
An investigation of a general lines agent alleged that he
allowed unlicensed individuals to transact insurance, failed to
properly supervise his agencies, and collected fees in excess
of the actual cost for motor vehicle reports.
Disposition: Fined $15,000 and probation for one year.
An investigation of a general lines, life and health agent
and his insurance agency alleged that he implemented and authorized a
practice at his agency to charge insurance consumers an "agency fee" of
$100, in addition to the actual premium amount charged by the insurer.
Disposition: Agency fined $2,000; agent fined $1,000; all consumers who had paid the fee were refunded.
Case: An investigation of a life,
health and variable annuity agent alleged that he failed to notify
the Department of an administrative action taken against him by
Disposition: Fined $1,000.
Case: An applicant for
licensure as a personal lines agent failed to disclose
on his license application that the Department had previously
revoked his license in 1995.
Disposition: License granted and fined $1,500.
An applicant for a resident insurance agency license was initially determined that grounds existed to deny the application based
upon the applicant's failure to disclose that the Florida Office of Financial Regulation entered into a
Stipulation and Consent Agreement with an officer of the applicant, for selling
over one hundred equity indexed annuities to Florida consumers without
approval from the insurer and for
continuing to sell the equity indexed annuities after he received a verbal warning from
The officer agreed to cease and desist from the violations and pay an administrative fine of
$15,000. A Final Order adopting the Stipulation and Consent Agreement was issued
and the fine was paid.
Disposition: Resident insurance agency license granted and placed on probation for 1 year.
An investigation of a customer representative alleged that she
failed to fully explain commercial automobile coverage to a
Disposition: Fined $1,500 and probation for one year.
An investigation of an attorney-owned title insurance agency
alleged that it offered an illegal inducement for title-related services
by providing at an open house party a drawing for a gift basket.
Disposition: Fined $500 and ordered to cease and desist from offering inducements for title-related services.
An investigation of a registered insurance agency alleged
that the owner made a misrepresentation on the application for
agency registration by listing himself as the sole owner when an
unlicensed person jointly owned the agency.
Disposition: Agency surrendered registration and was required to submit an application for an agency license.