The following are instances in which licensees or
other persons violated the Florida Insurance Code and the administrative
action the department has taken against them.
Note: All
administrative investigations are subject to referral to the
Division of Insurance Fraud for criminal investigation.
Case: An
investigation of a title insurance agent alleged
that she failed to deposit fiduciary funds in a separate escrow account approved by the
Department, failed to disburse funds in accordance
with a HUD-1 Settlement Statement, and
misappropriated fiduciary funds collected in the
normal course of business.
Disposition: License revoked and
permanently barred from engaging in the insurance
business.
Case:
An investigation of an insurance agency alleged that one of
its officers conducted insurance business with a suspended
license, failed to forward premiums in excess of $41,400, failed
to place coverage after accepting premium, mishandled premium
funds collected in the normal course of business, failed to
update the business address with the Department, and failed to
designate an agent in charge for the agency.
Disposition: License revoked.
Case:
An investigation of a life and variable annuity agent
alleged that he submitted a document to an insurer containing
false signatures and misrepresented the terms and conditions of
an annuity sold to a senior consumer.
Disposition: License revoked.
Case:
An administrative complaint filed against an independent all
lines adjuster alleged that she conducted public adjusting activities
without the proper licensure.
Disposition: License revoked.
Case:
An investigation of a title insurance agent alleged that she
failed to credit binder fees toward the risk premium, charged
above maximum rate for title endorsements, and failed to provide
a change of business address to the Department.
Disposition: License surrendered for
two years.
Case:
An investigation of a general lines agent and insurance
company adjuster alleged that he made material misrepresentations to obtain
his general lines agent license by certifying that he had experience in a
variety of insurance areas when he, in fact, did not.
Disposition: License surrendered.
Case:
An investigation of an unlicensed individual revealed he acted as a
public adjuster without a license or appointment.
Disposition: Ordered to cease and
desist; will not have the right to apply for licensure as a public
adjuster for four years.
Case:
An investigation of a bail bond agent alleged that he failed
to timely return collateral funds received in the conduct of business in the amount
of $10,000. Due to the efforts of the Bureau of
Investigation, the funds were ultimately returned to the consumer.
Disposition: Fined $20,000 and
placed on probation for 12 months.
Case: A Notice of Intent to
Issue Cease and Desist Order was filed against a roofing company
and two unlicensed individuals associated with it for
advertising and holding themselves out to be public adjusters
and specializing in dealing with insurance claims by negotiating
with insurance carriers and giving claims advice.
Disposition: Ordered to cease and
desist.
Case:
An investigation of a nonresident life agent alleged that he
aided and abetted an unlicensed individual in the sale of two life insurance
products and made misrepresentations on the two applications for life
insurance.
Disposition: License suspended for 18
months.
Case: An investigation of an
automobile warranty sales firm alleged that it aided and abetted
an unauthorized entity in the
sale of automobile warranty products, and failed to provide the name,
address and license number of the service agreement company on an
advertisement.
Disposition: Fined $7,500; ordered to
cease and desist; shall be responsible for any unpaid claims for any
clients it placed with the unauthorized entity.
Case:
An investigation of a public adjuster alleged that he
charged fees for adjusting services that were not
performed for two Florida insurance consumers.
Disposition: Fined $1,000 and ordered
to pay restitution of $4,695 to the consumers.
Case:
An investigation of a nonresident general lines, life, health and
variable annuity agent alleged that he used misleading website
advertisements in the solicitation of insurance products.
Disposition: Fined $1,000 and ordered
to cease and desist from using misleading advertisements.
Case:
An investigation of an insurance agency alleged that it
disseminated an advertisement that misrepresented the benefits,
advantages, or terms of an annuity.
Disposition: Fined $1,000 and ordered
to cease and desist from using misleading advertisements.
Case:
An investigation of a life, health and variable annuity
agent alleged that he failed to obtain insurer approval on an
advertisement and failed to disclose all required limitations
and conditions which affect the rate of return in the
advertisement.
Disposition: Fined $750; ordered to
obtain insurer approval on future advertisements; cease and
desist from using misleading advertisements.