• Managing General Agents, Surplus Lines Agents Would Be Subject to Florida Insurance Agent Penalty Guidelines Under Proposed Rule
  • June 22, 2015
  • Law Firm: Colodny Fass P.A. - Fort Lauderdale Office
  • Managing general agents and surplus lines agents would be subject to penalty guidelines applicable to insurance agents, representatives and others under revisions proposed to Rule 69B-231.020 by the Florida Division of Insurance Agents and Agency Services ("Division"), it was announced today, June 11, 2015.

    Entitled "Scope," the Rule currently applies to all resident and nonresident insurance agents, customer representatives, adjusters, navigators and service representatives licensed under Chapter 626, F.S. who are subject to discipline under Sections 626.611 and 626.621, F.S. The notice states the amendment corrects the scope by providing the chapter is applicable to managing general agents and surplus lines agents.

    The proposed Rule would also delete subsection 2 of Rule 69B-231.020, which reads:

    "This rule chapter does not apply to insurance agencies, title insurance agencies, title insurance agents, insurance administrators, surplus lines agents, bail bond agents or managing general agents."

    If requested by a member of the public, the Division will hold a Rule Hearing on July 9 in Tallahassee.