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Statement from Chief Financial Officer Jeff Atwater on the Signing of HB 725 Further Reducing Regulatory Burdens

5/4/2012

Contact: Anna Alexopoulos
(850) 413-2842

TALLAHASSEE—Florida Chief Financial Officer Jeff Atwater today released the following statement regarding Governor Rick Scott’s signing of HB725. The bill consolidates 49 insurance agent and agency license types into seven master categories and provides parity for small businesses that purchase workers’ compensation, thus ensuring that all corporations and partnerships are treated equally while allowing them to submit electronic certificates of insurance.

“Overreaching government regulations stifle growth and hinder our state’s economic recovery. Looking at regulations through a new scope, we were able to quickly identify burdens we could remove from the businesses that fall within the jurisdiction of our department.

“With the hard-work and commitment of Rep. Bill Hager (R-Boca Raton) and Sens. Garrett Richter (R-Naples) and Steve Oelrich (R-Gainesville) to streamlining government regulations we were able to successfully pass this bill that make doing business in Florida easier and more cost effective.”

In addition to streamlining license types through this bill the Division of Agent and Agency Services has reduced the time takes to get a license on average from seven to five days since the CFO took office. Moreover, the division can now process license applications within two days, 94 percent of the time. CFO Atwater will continue to look for wants to make doing business in Florida easier.

Chief Financial Officer Jeff Atwater, a statewide elected official and officer of the Florida Cabinet, oversees the Department of Financial Services.  CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away capital, and ensuring transparency and accountability in spending.