Lesson 20 Review
Florida statutes dictate that no person may be, act as, or advertise or hold himself or herself out to be an insurance agent, insurance adjuster, or customer representative unless he or she is currently licensed by the Department and appointed by an appropriate appointing entity or person.
Florida law requires all licensed agents to adhere to the state's continuing education (CE) requirements.
Licensees are required to notify the Department in writing within 60 days after a change of name, residence address, principal business street address, or mailing address, contact telephone numbers (including a business telephone number), or email address. Failure to notify the Department within 60 days will result in a fine not to exceed $250 for the first offense and, for subsequent offenses, a fine of not less than $500 and possible suspension or revocation of the license. If an agent moves out of the State of Florida, the Department will immediately terminate that agent's license.
The penalties in Florida for violating the Unfair Trade Practices Act are probation, suspension, or revocation of licensure or HMO Certificate of Authority and up to $200,000.
The practice referred to as sliding is akin to misrepresentation.
Coercion, boycott and intimidation is entering into any agreement to commit, or by any concerted action committing, any act of boycott, coercion, or intimidation resulting in, or tending to result in, unreasonable restraint of, or monopoly in, the business of insurance.
Misrepresentation is knowingly making, issuing, circulating, or causing to be made, issued, or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison which incorrectly represents any facet of an insurance policy.
Defamation of character can take place in the form of the written word or the spoken word. It is considered a personal attack - an attack on somebody's good name, character, or reputation.
Unfair Discrimination occurs when insurers show any type of partiality to individuals in regard to their premiums and benefits.
Fraud is a crime of obtaining money or some other benefit by deliberate deception.
Insurance agents are prohibited from writing controlled business unless the controlled business is at least equal to the amount of other similar business written.
The information contained in Unit 4 and Part IV (Units 26 through 30) of the Florida study manual have been presented in Lessons 19 and 20 of the online course.
