Vol. 13, No. 2 - April 2024
Welcome
Recently, I led a Keeping Policyholder First Insurance Roundtable in Clearwater with state legislators as well as business and community leaders to highlight the successes made to improve Florida's property insurance market. It's no secret that insurance challenges have become a nationwide crisis, driving up costs across the country as inflation, natural disasters, litigation, and fraud have caused a perfect storm for policyholders. Florida has met these challenges head on and our insurance market is improving day by day. I tell people all the time that it's like turning a giant cruise ship, it takes time to pass the needed reforms to turn the industry around but I'm thankful that we have so many great leaders in our state manning the helm.
Secondly, I was thrilled to see Governor DeSantis sign legislation to fund and improve the My Safe Florida Home (MSFH) program. The new funding will provide grants for nearly 20,000 Floridians with special priority going to help Florida's seniors and low-income homeowners first. There is no better time than right now to harden your home against storms and cut your homeowners insurance costs. Another hurricane season is fast approaching and unfortunately, Mother Nature loves our state and it's not if but when a major storm will take aim at Florida.
Sincerely,
News You Can Use
CFO Jimmy Patronis Announces Sixteen Arrests in Tampa in a Joint Workers’ Compensation Fraud Sting
04/30/24
Tampa, Fla. – Florida Chief Financial Officer (CFO) Jimmy Patronis announced the arrest of 16 individuals in a workers’ compensation insurance fraud sting operation involving unlicensed contractors in Manatee County...Read more
In The Know
Consumer Protection, HB 989 - Effective May 2, 2024..Read more
Education Center
Late CE Compliance and What it Means to You
A licensee’s CE is due every two years during their birth month. But what happens if you fail to complete the required CE hours on or before the deadline? There are basically two options to remedy this situation...Read more
Enforcement Actions
The enforcement actions included in this list reflect enforcement actions taken in December, 2023, and January, February and March, 2024. Some of the following enforcement actions were resolved through a settlement process resulting in an order for discipline. Notification of enforcement actions is in the public interest. Please check with the Department before making a decision based upon this listing as information may have changed/been updated. This listing does not reflect pending appeals or requests for hearings. The license or registration status may have changed since the filing of these orders. We suggest that searching the Licensee Search page or make a public records request to verify the current status of any license or registration.ke a public records request to verify the current status of any license or registration...Read more
Compliance Corner
Suitability in Annuity Contracts - Rule and Forms Adopted
Changes to s. 627.4554, F.S. required changes to Rule 69B-162.011, F.A.C. Adoption of the rule and the required forms is pending...Read more
Case Notes
Case: This case was opened when it was alleged the agent accepted the full annual premium funds for homeowner policies and the monies were deposited into the agency’s bank account and used those funds to pay the expenses of the agency...Read more