8283429, 69B-231.030 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 8283429

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Insurance Agent and Agency Services

Chapter:

PENALTY GUIDELINES FOR INSURANCE REPRESENTATIVES

Overview

RULE:

69B-231.030	Definitions
69B-231.080	Penalties for Violations of Section 626.611, F.S.
69B-231.100	Penalties for Violations of Sections 626.621(6), 626.844(5), or 626.9541, F.S.
69B-231.110	Penalties for Violations of Other Specific Provisions of the Florida Insurance Code
69B-231.160	Aggravating/Mitigating Factors

PURPOSE:

The purpose of the proposed rule development is to update the rules that govern suspension and revocation of licenses of insurance agents, customer representatives, service representatives and adjusters. The amendments include adding new regulations adopted by the Florida Legislature and deleting laws that have been repealed. The rules are also updated by increasing penalties for violating certain laws in order to reflect the Department’s experience in dealing with the frequency and severity of these violations. The purpose of other changes is to clarify the rules.

SUMMARY:

The amendment to Rule 69B-231.030, F.A.C., amends the definitions for “administrative complaint” and “count” and adds a new definition for “administrative charges.” Rule 69B-231.080, F.A.C., is amended to add new penalties for violations of Section 626.611(17), F.S. Rule 69B-231.100, F.A.C., is amended to increase the length of license suspension for violations of certain unfair and deceptive insurance practices and adds penalties for misrepresentations and false advertising of insurance policies and twisting as well as adds penalties for violations under Section 626.9541(1), F.S. Rule 69B-231.110, F.A.C., is amended to increase the length of license suspension for violations of certain other provisions of the Florida Insurance Code and adds the penalty of revocation for licensees who fail to comply with the court, pursuant to Section 631.155, F.S., regarding accounting for premiums and unearned commissions. Rule 69B-231.160, F.A.C., is amended to repeal the consideration of cooperation with the Department as an aggravating or mitigating factor and adds penalties for violation of any part of Sections 626.9541 and 627.4554, F.S. in relation to the sale of a life insurance policy or annuity to a senior citizen. Further, the rule is amended to delete the term “timely” as it relates to restitution to victims.

RULEMAKING AUTHORITY:

624.308, 626.207(2), 627.4554(9) FS.

LAW:

624.307(1), 626.308, 626.207(2), 626.611, 626.621, 626.631, 626.641, 626.681, 626.691, 626.9541, 626.9541(1), 627.4554, 631.155 FS.

PRINT PUBLISH DATE:

2/19/2010 Vol. 36/07

COMMENTS:

From 2/19/2010 To 3/12/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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