In The Know
Important Information Regarding COVID-19 and Business Operations - Licensing
Due to the response to COVID-19, Pearson Vue testing locations continue operating at a limited seating capacity. However on May 20, 2020, many third party testing locations in Florida began offering our exams, which made additional testing times available throughout the state. To search for test centers and register for exams, please visit https://home.pearsonvue.com/fl/insurance.
There continues to be over 40 LiveScan fingerprinting locations open in Florida. To search fingerprint locations and register for fingerprinting services, please visit www.L1enrollment.com/FLInsurance.
Due to limited testing availability, temporary licensing is now available for certain license types. See below for more detailed information about obtaining these licenses.
Per CFO Directive 2020-07, Florida will begin issuing the following resident temporary licenses:
Key points of the Order:
In order to continue operating efficiently, we strongly encourage individuals to utilize our Upload Documents feature through their MyProfile account to submit application deficiency documents, instead of emailing them to us. If the option to upload documents isn't available in someone's account, it will appear within three hours after submitting a new license application in our system. (Note: If an application is submitted through the NIPR, the option will appear once the application reaches our system, typically the day after the application is submitted to the NIPR.)
Public Adjuster Surety Bond Requirement
Florida Statutes s. 626.865(2) states:
At the time of application for license as a public adjuster, the applicant shall file with the department a bond executed and issued by a surety insurer authorized to transact such business in this state, in the amount of $50,000, conditioned for the faithful performance of his or her duties as a public adjuster under the license for which the applicant has applied, and thereafter maintain the bond unimpaired throughout the existence of the license and for at least one year after termination of the license.
All public adjusters licensed in Florida must maintain the surety bond even if your are no longer adjusting claims in Florida, or are a resident or non-resident adjuster. Failure to maintain the surety bond may result in formal administrative action against your license. The action will be reported to the National Association of Insurance Commissioners and entered into their data base for all states to view, which could adversely affect your standing in another state.
If you no longer want to maintain your license you can cancel or voluntarily surrender the license, by accessing your MyProfile account and selecting "Cancel Licenses". You can also send an email to AgentLicensing@MyFloridaCFO.com requesting your license be cancelled and Include your license number.
COVID-19 Extension for Customer Representatives Extended Through November 3, 2020
Governor Ron DeSantis issued Executive Order 20-213 to extend Executive Order 20-52, which declared a public health emergency in Florida. As a result of this extension, the Directive of CFO Jimmy Patronis that allows 4-40 licensees to work remotely also has been extended until the expiration of the Governor's Order.
Unless the Order is extended, the guideline expires after November 3, 2020 and customer representatives may no longer work from locations other than the agency they are employed by.
We recommend all affected agencies, agents in charge, supervising general lines agents and customer representatives continue to monitor future developments on this topic under "Industry Alerts" on the Division's website to maintain compliance.
FinCEN Issues Advisory on the Financial Action Task Force-Identified Jurisdictions with Anti-Money Laundering and Combating the Financing of Terrorism Deficiencies
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to financial institutions regarding the Financial Action Task Force's (FATF) June 30 reissuance of its list of jurisdictions with strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing, with updates to two jurisdictions. These changes may affect U.S. financial institutions' obligations and risk-based approaches regarding relevant jurisdictions. The advisory also reminds financial institutions of the status and obligations involving these jurisdictions.
Legislative Update - 2020
HB 1189 - Genetic Information for Insurance Purposes
The law prohibits life insurers and long-term care insurers from canceling, limiting, or denying coverage, or establishing differentials in premium rates based on genetic information, and prohibits such insurers from taking certain actions relating to genetic information for any insurance purpose.
HB 813 - Protection of Vulnerable Investors
Requires securities dealers, investment advisers, and associated persons to report knowledge or suspicion of abuse, neglect, or exploitation of vulnerable adults to the Florida Department of Children and Families (DCF): authorizes dealers and investment advisers to delay certain disbursements or transactions based on reasonable belief of financial exploitation of specified adult; requires dealer or investment adviser to notify certain persons and the Florida Office of Financial Regulation (OFR) of such delays within a specified time frame; authorizes dealers or investment advisers to extend delay; provides that length of such delays may be shortened or extended by a court of competent jurisdiction; provides immunity from administrative and civil liability for dealers, investment advisers, and associated persons; requires dealers and investment advisers to develop certain training policies or programs and maintain written records of compliance.
SB 1606 - Insurance Administration
Insurance Administration; Revising a certain electronic signature requirement for a motor vehicle salvage certificate of title; authorizing the payment of certain workers' compensation benefits to be transmitted to the employee's account with a licensed money transmitter; revising criteria for assessing a residential condominium unit owner's loss assessment coverage; specifying sales practice requirements, prohibited sales practices, and authorized sales practices relating to travel insurance, etc.
Effective Date: July 1, 2020 except as otherwise expressly provided, Chapter No. 2020-63, Laws of Florida
Agents should always verify the companies they sell for are authorized to do business in Florida. If you suspect an entity is not authorized to transact insurance in Florida, please notify our office. Call 877-MY-FL-CFO (1-877-693-5236).
The Florida Statutes can be viewed online at Online Sunshine