Make sure that the company, broker or agent is licensed to do business in Florida before you sign a contract or write a check. It is illegal for companies or individuals to market insurance in Florida without a license. Agents must be licensed and must have active appointments with specific companies in order to legally sell insurance products. Use the links below to verify through our records that the entity is authorized and licensed to transact business in Florida or with Florida residents.

• Search Active Companies

• Search Licensee

• View Recent Disciplinary Actions Against Agent and Agencies

Regulatory Actions Against Companies

• Life and Health Companies

• Property and Casualty Companies

• Health Maintenance Organizations

• Unlicensed Entities

• Financial Information

If you suspect an entity is not authorized or licensed to transact insurance in Florida, from Florida or with residents of Florida, please notify our office. Call 1-877-MY-FL-CFO (1-877-693-5236 to report suspect unlicensed activity.

There are several financial services companies that provide ratings of U.S. insurance companies. The four major rating companies include:

• A.M. Best Company (website: www.ambest.com)

• Fitch Ratings. (website: www.fitchratings.com)

• Moody's Investors Services (website: www.moodys.com)

• Standard & Poor's Corporation (website: www.standardandpoors.com)

And one of the most widely known rating service companies that reviews start-up insurance companies, or insurance companies with less than five years of historical operating experience is:

• DemoTech (website: www.demotech.com)

Please Note: Please Note: These are independent insurance company rating organizations. Their appearance on the department’s website is not an endorsement by the Department of Financial Services for any of the organizations. The listing is meant for the convenience of the department’s consumers when selecting an insurance company.

Each of the rating service companies have developed a rating system that uses one or more letters of the alphabet to describe an insurer's financial condition. The ratings generally are shown as A++ (being the best) to D or E. The factors taken into consideration include company earnings, the company’s financial reserves compared to the total value of the outstanding risks, the ratio of the companies fixed costs to the company’s variable costs, the availability of liquid assets of the company, the performance of the company’s investments, reinsurance programs, and the management’s ability, integrity and experience.

While the companies use similar data to calculate their ratings, no two systems are alike. Rating service companies develop their own criteria for rating insurance companies. Some rating service companies may only rate insurance companies who have five or more years of financial data, or who have a higher volume of policies. Since the rating companies develop their own rating criteria, an insurance company's rating may be different between rating service companies.

It is important to remember that an insurance company’s ratings reflect their financial ability to pay claims. The ratings are not a measure of the quality of the company’s claim handling services. Because the rating systems vary, and the classifications used by rating firms are broad, it's a good idea to consider ratings from several sources when evaluating an insurer.

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CEBS..... Certified Employee Benefits Specialist

CFP......... Certified Financial Planner

ChFC...... Chartered Financial Consultant

CIC......... Certified Insurance Counselor

CLU........ Chartered Life Underwriter

CPCU..... Chartered Property and Casualty Underwriter

LUTCF.....Life Underwriting Training Council Fellow

RHU........Registered Health Underwriter

Make sure you select an agent with whom you feel comfortable and who will be available to answer your questions. Remember: An agent may represent more than one company. To verify whether an agent is licensed, call the DFS Consumer Helpline toll-free at 1-877-MY-FL-CFO (1-877-693-5236).

When selecting an insurance company, it is wise to know that company’s financial rating. Several organizations publish insurance company ratings and resources are available in your local library and on the internet. These organizations include: A.M. Best Company, Standard & Poor’s, Weiss Ratings Inc., Moody’s Investors Service, Demotech and Duff & Phelps. Companies are rated on a number of elements, such as financial data (including assets and liabilities), management operations and the company’s history.

Once your application for insurance is received by the insurance company, they decide if the applicant or the property is eligible for coverage. All insurance companies use guidelines to determine eligibility. When the underwriting process is complete the company determines the final premium.