Insurance Insights header
Volume 6, No. 3 - March 2017

In The Know

- Keeping you informed is what it's all about

Fingerprinting Requirement of Licensed Firms/Entities Reminder

If there is a change in ownership or control of any entity licensed under Chapter 626, F.S., or if a new partner, officer, or director is employed or appointed, a set of fingerprints of the new owner, partner, officer, or director must be filed with the Department within 30 days after the change. This includes insurance agencies, title insurance agencies, travel agencies holding a travel insurance license, managing general agents, firm reinsurance intermediary brokers, as well as others. The acquisition of 10 percent or more of the voting securities of a licensed entity is considered a change of ownership or control. Please note that for insurance agencies, fingerprints need not be filed for any individual who is currently licensed and appointed.

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

[See Section 626.202, Florida Statutes]

Getting Out of the Insurance Business: Surrendering Your License

The editor of Insurance Insights occasionally receives emails from licensees who are no longer active in the insurance industry, and wish to cease receiving Insurance Insights and other communications from the Department. If you no longer transact insurance or adjust claims in the state of Florida, you should surrender your license to the Department. As long as you hold a license, the Department must continue to send you communications relating to your license. If you hold a license that requires continuing education, even if you are not using it, the Department can hold you responsible for completing the required continuing education hours.

You can surrender your license by sending a letter to the Bureau of Licensing stating that you wish to surrender. Please include the following:

  • Your name
  • Florida license ID number
  • Mailing address
  • Telephone number
  • Your signature

You may email the letter to AgentLicensing@MyFloridaCFO.com. You may also fax it to (850) 413-3291.

As always, you may verify your license and appointment status by logging in to your MyProfile account or using our public licensee search. Tips on closing an insurance agency can also be found on our website at www.MyFloridaCFO.com/Division/Agents/Newsletter/Articles/AgencyClosing.htm.

Making Address Changes in MyProfile

When updating an address in MyProfile, please be sure to review both Address Line 1 and Address Line 2 for accuracy. If the information on Address Line 2 is no longer accurate, either delete the information or update it so your records will be accurate.

Marking Emails from the Department as SPAM

If a licensee marks an email notification from the Department as SPAM, they may not receive future emails but will still be held responsible for complying with the Florida Insurance Code. We have become aware that some licensees mark our communications as SPAM accidentally since they are quickly and without much attention marking a lot of messages in their Inbox as SPAM. Please be sure to pay close attention when you are doing this as it could cause you to unknowingly miss important information about your license and possibly violate the Florida Insurance Code.

For example, we notify you via email that your CE requirement is due and you mark the message as SPAM. Our system receives notification of this then marks your email address as an invalid email address and no longer send emails to it. From that point on, you do not receive the email notifications we attempt to send to you. These emails would have informed that you missed your CE due date and you stand to lose your appointments. If your appointments are cancelled because of CE non-compliance, your license is flagged for expiration. If you go 48 consecutive months without an appointment, your license will automatically expire. If this occurs, you will have to requalify as a first-time applicant if you wish to resume transacting this line of insurance.

If your email address changes, you are required by s. 626.551, F.S. to notify us. All demographic changes must be made through your MyProfile account.

 

The Florida Statutes Are Available Online

The Florida Statutes can be viewed at Online Sunshine - Title XXXVII Insurance.