Volume 2, No. 3 - April 2011

News You Can Use

- Updating you on what's going on

Notice of Rule Development - Repeal of Subsection (5)(d) of Rule 69B-220.201

A Notice of Rule Development has been filed with the Florida Department of State to repeal subsection (5)(d) of Rule Chapter 69B-220.201, Florida Administrative Code, relating to adjuster ethical requirements. The repeal of this subsection is required due to the enactment of subsection 626.854(11), Florida Statutes, by the Florida Legislature.  Subsection 626.854(11) supersedes the above referenced rule provision. If requested, a hearing will be held on May 10, 2011.
Click here to read the notice >>

Amendments to Rule Regarding Bail Bond Forms

Amendments to Rule 69B-221.051, Florida Administrative Code, relating to bail bond forms became effective April 18, 2011.
Click here to read the amended rule >>

Florida CFO Atwater: Statement Regarding Legislative Efforts to Fight Auto Insurance Fraud

Florida Chief Financial Officer Jeff Atwater released the following statement recognizing Senators Chris Smith (D-Oakland Park), John Thrasher (R-Jacksonville), and Garrett Richter (R-Naples) for their efforts to pass two measures that will help fight automobile insurance fraud - requiring law enforcement officers to list all passengers in an accident and the creation of civil penalties for those convicted of auto insurance fraud, the proceeds of which will be used to fund additional anti-fraud efforts.
Click here to read the press release >>

CFO Jeff Atwater Announces Arrest of Boca Raton Man for Scamming Senior out of $25,000

Florida CFO Jeff Atwater announced the arrest of a former Boca Raton insurance agent for scamming a 78-year-old Miami woman out of $25,000. Jeffrey Schneider, 44, has been charged with four felony counts including scheme to defraud and theft from a person over 65 years of age. Schneider acted without a license, which was revoked in March 2010 for numerous licensure violations.
Click here to read the press release >>

Florida Office of Insurance Regulation to Hold Public Hearing on Life Insurance Companies' Practices

On May 19, 2011, the Office will conduct a public hearing to evaluate a potential industry practice that involves claim settlement practices, use of the U.S. Social Security Administration's Death Master File, and compliance with unclaimed property laws.
Click here to read the advisory >>

CFO Atwater's Department Wins $76 Million Judgment Against Former Aries Insurance Company Owners

Florida CFO Jeff Atwater announced that a judgment has been entered against the former owners of Aries Insurance Company, Inc. for more than $76 million. The insolvency of Aries Insurance Company left approximately 58,000 policyholders and creditors with unpaid claims when it was ordered into receivership in 2002 and two state guaranty funds were triggered to pay those claims.
Click here to read the press release >>

CFO Atwater Announces Arrest of Suspended Delray Beach Insurance Agent for Scamming Seniors Out of Life Savings

Florida CFO Jeff Atwater announced the arrest of Larry Yale Krakow, 53, of Delray Beach, on charges of organized scheme to defraud and grand theft involving numerous senior annuity transactions in the Palm Beach County area. The arrest follows a nine-month suspension and a $25,000 fine previously levied against Krakow following an extensive administrative review by Department's Division of Agent and Agency Services. The arrest was made by the Department's Division of Insurance Fraud.
Click here to read the press release >>

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Add FloridaAgentLicensing@MyFloridaCFO.com to your e-mail software's Trusted or Safe Senders List to ensure you are able to receive all notifications from us. Licensees who have a valid e-mail address on file with us, as required by law, receive important e-mail notifications when something that affects your application, license, continuing education, or appointment(s) occurs.  Additionally, we can keep you informed with warnings regarding new schemes and scams being marketed to licensees.  You can update your contact information through your MyProfile account.  We want to keep you informed in a timely manner of pertinent information important to you. You are still required to abide by the Florida Insurance Code regardless of whether you read the information we provide.


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