Florida Statutes
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| McCarran-Ferguson Act | Made the business of insurance state regulated in 1945
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| Union Plans | can be an exception to the MEWA if US department of labor makes express finding if no express finding by the US DOL then is subject to state regulations
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| Association Plans | These plans are not exempt from state regulations
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| PEO Professional Employer Organization | sponsored health plans not exempt from state regulation
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| third degree felony, liability of unpaid claims, suspension or revocation of all insurance liscenses | Possible Consequences for aiding and abetting an Unauthorized Insurer and acting as one
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| Temporary Licensing | up to 6 months to an employee, family member, business associate, or personal representative for the purpose of continuing or winding the business affairs of a an agent in the event the agent dies or is otherwise unable to perform his or her duties.
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| License and appointment | cannot hold themselves to be an agent customer rep or adjuster without properly being licensed and appointed
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| $10,000 | if an agency is required to be licensed but fails to file for application
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| $5,000 | if the agency is eligble for registration but fails to register
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| 3 years | an agency license is issued for a period of
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| 3 years | every licensee shall keep books accounts and records pertaining to a premium payment for atleast 3 years after payment
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| Outside the office of his or her agency | a customer representative shall not engage in transacting insurance outside of the office of his or her agency
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| Only with 220 agents | who can a 2-20 agent share his commission with
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| Misrepresentation | knowingly making untrue statements in an insurance application so that a benefit can be gained
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| defamation | to injure a person by libel or slander
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| sliding | telling the insured that additional coverage is required by law when purchasing auto insurance or including the additional coverage without the insured knowing.
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| twisting | tricking the insured or prospect so that they will change their policy to another insured.
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| Advertising gifts permitted | giving a prospect or insured mercandise for the purpose of advertising with a value of $25 or less
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| "stock insurer" | an incorporated insurer without permanent capital divided into shares and owned by stockholders
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| Mutual Insurer | an incorporated insurer without permanent capital stock ther governing body of which is elected in accordance with this part.
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| Appointment of Customer REp | cannot work for more than one agency at a time/ shall prescribe by rule forms to administer this section
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| Surplus Lines Agent | individual licensed to handle placement of insurance coverages with unauthorized insurers and to place coverage with authorized insurers as to which the licensee is not licensed to the agent.
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| Eligible Surplus Lines Insurer | unauthorized insurer which has been made eligible by the office to issue incurance under the surplus lines law
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| To Export | to place in an unauthorized insurer, insurance, covering a subject of insurance resident located or to be perforned in the states
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| Dilligent Effort |
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