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 administrative
complaint issued against a title agency alleged that its closing
agent misappropriated over $500,000 by collecting funds from one
mortgagee and failing to disburse the funds to another
mortgagee. It was also alleged that the agency failed to
maintain a surety bond, pay its administrative surcharge, and
notify the Department of a change in principal business address.
Disposition: Licenses revoked for
both the agent and agency. Both are permanently barred from the
insurance business. The agent was arrested by the Division on
Insurance Fraud and criminally charged with three felony counts that are
pending.
Case:
An investigation of a general lines agent alleged she
misappropriated fiduciary funds, failed to remit premiums to insurers
resulting in cancellation of policies, causing a consumer's premiums to be
financed without the consumer's knowledge or consent, and forged the
consumer's signature on premium finance agreements.
Disposition: License revoked. She was also convicted of grand theft and sentenced to 15 years felony probation making her permanently ineligible for licensure.
Case: An investigation of a
life and health agent alleged that he submitted fraudulent insurance applications
without the knowledge, consent, or true signature of the
consumers.
Disposition: License revoked and
permanently barred from the insurance business.
Case: An administrative complaint
issued against a general lines agent alleged that he was responsible
for eight unnecessary wind mitigation inspections, forwarding eight
applications to an insurer that contained fraudulent signatures, and forwarding five applications
to an insurer that contained fraudulent information.
Disposition: License revoked. He was
also arrested and criminally charged with organized fraud, grand
theft, insurance fraud, and racketeering.
Case: An investigation of a
general lines agent alleged that she submitted 27 premium
finance agreement applications without the knowledge, consent,
or true signature of the insured, failed to remit insurance
premiums collected in the normal course of business to the
insurer, and failed to provide a change of home, business, and
mailing addresses to the Department.
Disposition: License revoked.
Case: An investigation of a title
insurance agent alleged that she provided an unlawful inducement for
the referral of business, failed to charge the promulgated rate for
title insurance, failed to refund overcharges to insureds, charged
separate line items that should have been part of the closing fee, and
failed to forward proper premiums to the insurer in a timely manner.
Disposition: License suspended for
two years.
Case: An investigation of an
insurance agency alleged that an officer aided and abetted an
unauthorized insurer and an unlicensed entity in the sale of cargo
insurance.
Disposition: Fined $81,000 and placed
on probation for one year.
Case: An administrative complaint issued
against an all lines public adjuster alleged that he failed to provide his
public adjuster apprentices with proper direct supervision and guidance.
Disposition: License suspended for 12
months.
Case: An investigation of an entity
licensed as a service warranty sales representative and a motor vehicle
service warranty agent alleged that it promoted a website
reflecting the marketing and advertising of numerous warranty product
without the required disclosure information.
Disposition: License suspended for
12 months.
Case: An investigation
of an independent adjuster alleged that he acted as a
public adjuster without the proper license,
appointment, or surety bond.
Disposition: License suspended for
three months.
Case: An applicant for
licensure as an insurance agency failed to disclose
required information on its application, including past
administrative action by the Department against the
listed owner. Additionally, the applicant continued
transacting without a license since its agency license
expired.
Disposition: Fined $4,000 and agency
license granted.
Case: An investigation of a
general lines agent alleged that he failed to provide a written
notice of insurer insolvency to active policyholders.
Disposition: Fined $2,000; make
restitution to harmed consumers; probation for one year.
Case: An applicant for
licensure as a life and health agent failed to
disclose a prior misdemeanor crime on his application.
Disposition: Fined $1,500 and license
granted.
Case: A Notice of Intent
to Issue Cease and Desist Order was issued against an entity
alleging it transacted insurance without the required
license and executed and collected funds from premium
finance agreements for insurance policies that were never
issued.
Disposition: Cease and Desist Order
issued.