UNITE
VOICE OF THE SPECIALTY INSURANCE AGENTS ASSOCIATION
DECEMBER 2009 |
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| CONTACT US |
PHONE 888-290-8436
FAX 386-257-0250 |
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| HAPPY HOLIDAYS UNITE READERS |
HOPE YOU ENJOY THE DECEMBER ISSUE OF THE NEW ELECTRONIC EDITION OF UNITE. WE WANT IT TO SERVE YOUR NEEDS AND BE THE VOICE OF SPECIALTY INSURANCE AGENTS ASSOCIATION. PLEASE DIRECT ANY COMMENTS TO US AT
INFO@SPECIALTYINSURANCEAGENTS.ORG. WE ARE ADDING NEW AND EXCITING ARTICLES EACH AND EVERY MONTH. CHECK OUT OUR ADVERTISERS THEY ARE HERE TO SUPPORT THE UNITE MEMBERS AND HELP YOU BECOME MORE SUCCESSFUL |
| QUESTION OF THE MONTH |
| What does FEMA consider as Substantial Improvement?
Any reconstruction, rehabilitation, addition, or other improvement of a building, the cost of which equals or exceeds 50 percent of the market value of the building before the "start of construction" of the improvement. Substantial improvement includes buildings that have incurred "substantial damage," regardless of the actual repair work performed. The term does not, however, include either any project for improvement of a building to correct existing state or local code violations or any alteration to a "historic building," provided that the alteration will not preclude the building's continued designation as a "historic building."
Email your questions to UNITE at
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| 21ST ANNUAL CONVENTION & TRADE FAIR May 13th-16th 2010 |
**FREE TRADE FAIR**
Specialty Agents of Florida has held an annual Trade Fair since 1989 where insurance companies and other vendors have exhibited their products to hundreds of agents in an endeavor to make agents knowledgeable, competitive and more efficient. A great networking environment is created and both seminars and Continuing Education classes are offered keeping agents informed of the latest products and legislation. The Association has developed a strong presence in Tallahassee and has attracted many prominent speakers from legislative leaders to the State CFO.
This year a big change, you asked for it and here it is no charge to enter the Trade Show.
We have also lowered the cost of the package for the convention and we have included the Trade Fair lunch in the SA spouse package.
Hotel cost $99.00 per night. PackageFriday Night Reception, Saturday Trade Fair Lunch, Saturday Night Party and CE's included
$89.00 SA Member
$69.00 SA Spouse
$139.00 NON-Member
Golf Package (including Lunch)
OPEN TO ALL !!!!!!!!! $125.00
Purchase by item
CE Courses per Day
$30.00
Friday Night Reception
$30.00
Saturday Luncheon
$30.00
Saturday Casino Night Party
$40.00
Your registration does not include hotel reservations. You are responsible for making your own hotel accommodations. Your request must be received by April 23, 2010. After that date, the hotel will release all unreserved rooms for the sale to the public. Limited rooms at this price reserve early don't wait. Universal DoubleTree
1-800-327-2110 (Be sure to mention Group Code # SAT to receive the discounted rate). Hotel Rate $99.00per night,
plus taxes
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| COMPANY SPOTLIGHT |
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ETI Premium Finance
ETI Financial Corporation was started in 1986 by Mike Finkelstein. Mike started the company without any knowledge of premium finance but is now recognized as one of the leading experts in the premium finance business. While ETI's headquarters is located in Coral Springs, Florida, they have branched out countrywide with licensure in 23 states. ETI finances both personal lines and commercial policies and prides itself in providing the highest level of customer service both to agents and insureds. Most of ETI's managers have been in the premium finance business for more than 10 years. In 2006, ETI and Finco Premium Finance joined forces and now bring to agents the best that both companies have to offer. David Raymond started Finco in 1990 and is now the Chief Operating Officer of both ETI and Finco.
While any company can finance a policy -- what sets ETI apart are the special services they provide to agents. In these difficult economic times, ETI is doing whatever it can to prevent accounts from cancelling and has introduced the ETI CANCELLATION PREVENTION PROGRAM. Policy cancellations for non-payment not only reduce agent commissions but also decrease office efficiency as a result of increased customer service, re-instating cancelled accounts, and re-writing accounts.
ETI Calls All Customers Prior to Cancellation-all customers are called before the cancellation date. If customers need additional time, ETI can usually extend the pending cancellation date of their account.
Monthly Electronic Funds Transfers- Customers can now sign up for monthly Electronic Funds Transfers so their payment is swept from their bank account automatically. This will increase your retention rate and reduce unearned commission charge backs.
Credit Cards- A Credit Card payment option is now available on ETI's website.
Online ACH Payment Options: insureds can make online payments at ETI's website, directly from their checking accounts.
Additionally, ETI has recently released a software product which makes the quoting of commercial insurance much easier. ETI ACORD FORM PRO · E-Mail quotes to multiple Managing General Agents at one time
To obtain more information about ETI, you can contact one of ETI's marketing representatives: Tammy Poessy (954-261-3599) or Tony Batista (305-606-4100). You can always reach ETI at 800-995-7001.
ETI Premium Finance - Acord Forms Made Easy
Many auto agents are interested in diversifying their revenue stream by selling commercial insurance, but are hesitant in preparing commercial quotes and Acord forms.
ETI Premium Finance has recently released a software product which makes the quoting of commercial insurance much easier. ETI ACORD FORM PRO Software allows agents to quickly prepare the Acord forms necessary for a quote. Instead of the traditional method of filling out each Acord form on field by field basis, ETI's software provides you with a series of easy to answer questions that are written in plain English, and the Acord form is completed in the background. There is also a great help feature when you are unsure of the answer to a question. When all of the questions are complete, the Acord form and quote request is done! System highlights are as follows:
· E-Mail quotes to multiple Managing General Agents at one time
· Manages and saves your Clients' Commercial Quotes and submissions
· Pre-fills data directly onto ACORD Forms with one click to e-mail, print or fax
· E-mail clients automatically generated proposals
· Logs all e-mails sent to your General Agents and Clients
BEST OF ALL, THE SOFTWARE IS FREE For ETI CUSTOMERS!
Please contact ETI at 800-995-7001 ext. 3 for a login name and password.
ETI Cancellation Prevention Program
Agents understand that policy cancellations for non-payment not only reduce commissions but also decrease office efficiency as a result of increased customer service, re-instating cancelled accounts, and re-writing accounts.
We Call All Customers Prior to Cancellation-At ETI Premium Finance, we call all customers before the cancellation date. Most customers are very appreciative of the reminder and many make payments as a result. If customers need additional time, we usually can extend the pending cancellation date of their account.
Monthly Electronic Funds Transfers- Customers can now sign up for monthly Electronic Funds Transfers so their payment is swept from their bank account automatically. This will increase your retention rate and reduce unearned commission charge backs.
Credit Cards- A Credit Card payment option is now available on our website. This much requested feature provides insureds with another method to keep their insurance in force.
Online ACH Payment Options: Let your insureds know that to prevent cancellations, they can make online payments at our website, directly from their checking accounts.
Check us out today www.etifinance.com
BY FRAN COLUCCI SPECIALTY INSURANCE AGENT ASSOCIATION BOARD MEMBER
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| ETI ACCORD FOR DUMMIES FREE |
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| SPECIALTY AGENTS FLOOD 20% COMMISSION |
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| Marketing flood insurance |
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FLOOD REFERRAL PROGRAM?
The NFIP Agent Referral Program connects enrolled agents with qualified leads. Through FloodSmart.gov and the NFIP Call Center, customers and prospective customers learn about flood zones and estimating insurance costs. When they are ready to find an agent, we'll connect them to you through the Agent Referral Program.
Enroll today!
How it works
Agents enroll online and their contact information becomes available via FloodSmart.gov, the NFIP Call Center and NFIP mailings after the enrollment application is approved by a FloodSmart Administrator (within 2 business days).
Consumers search for agents using the Find an Agent feature on FloodSmart.gov or by contacting the NFIP Call Center.
Both FloodSmart.gov and the NFIP Call Center use the Agent Referral Database to offer consumers the contact information of flood insurance agents serving their area.
In addition, when a consumer contacts the NFIP Call Center, the call may be transferred directly to a participating agent (known as a "warm" transfer), and the agent will be given the consumer's contact information.
Agents take it from here!
If you have any questions regarding the Referral Program, please contact the NFIP Agent Referral Program Administrator:
T: (888) 786-7693
F: (800) 611-6126
E: agents@jwt.com
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| SIAA AGENTS E&O |
FOR MORE INFORMATION ON THIS PROGRAM CALL OR EMAIL TODAY
GRAVES & COMPANY
1-386-257-0595
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| E&O SITUATION HELP |
BE CAREFUL ABOUT WHAT YOU SAY, ABOUT HOW MUCH IS PAID UNDER THE FIGA.
If your insurance company has been declared insolvent, covered claims will be paid by FIGA. The maximum amount FIGA will cover is $300,000 with special limits applying to (1) damages to structure and contents on homeowners' claims and (2) on condominium and homeowners' association claims. For damages to structure and contents on homeowners' claims the FIGA cap is an additional $200,000. For condominium and homeowners' association claims the cap will be the lessor of policy limits or $100,000 multiplied by the number of units in the association. No claim will be paid in excess of this cap. All claims are subject to a $100 FIGA deductible in addition to any deductible identified in your policy. You may file a claim against the assets of the insurance company estate for the $100 deductible and for amounts over the cap. The Receiver will send proof of claim forms and instructions for filing a claim.
Claims not covered by FIGA may be claims against the remaining assets (estate) of the insurance company and will be considered after all covered claims have been processed.
INFORMATION PROVIDED BY The Florida Insurance Guaranty Association, created by legislation, handles the claims of insolvent property and casualty insurance companies. For more information go to www.figafacts.com Therefore, please BE CAREFUL you could be faced with an E&O situation.
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| PROGRESSIVE ATTRACT - AND RETAIN - MORE CUSTOMERS |
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| CAN YOU DO IT? START WITH A BUSINESS PLAN |
STARTING YOUR OWN INSURANCE AGENCY?
Starting Your Own Insurance Agency: Setting Out on Your Own If you're an insurance professional eager to increase your earnings potential, starting an agency of your own may be just the right move. With a little risk, setting out on your own can provide the independence and profitability you desire, while helping you gear up for a solid future. Establish a Business Plan Every successful agency starts with a clear vision and sound business plan. First figure out where you're going and the road you'll take to get there. This is your business plan. Ask yourself the following questions to help sharpen your focus and define your objectives:
Where will my business be located?
Will I buy, lease or build?
Who are my competitors?
How can I identify my customers?
What method will I use to sell to them?
Where will I find qualified employees? (if applicable) Get as much measurable information as possible about your competitors, the area surrounding your potential business, and your community's plans for business growth. (You may also want to consider purchasing an existing agency to save time and start-up costs.) If you've never operated your own business before, don't expect to know everything there is to know about it. Glean as much knowledge and information from others as you can, and use this valuable information to guide you in your own start-up. Find and consult with qualified lawyers, accountants, public relations professionals and business experts to help you address all the aspects of a sound business plan, based on your objectives. Ask local business owners for referrals and advice, and talk to other agents in your area about their experiences getting started. Based on the information you collect from your research and inquiries, reexamine your business plan. Don't hesitate to make revisions if you find your agency vision collides unfavorably with your business opportunities. Determine Your Product Line What type of insurance you handle should be based, at least in part, on your expertise and the marketplace. If you're already licensed to sell property and casualty insurance, for example, and that is your area of expertise, it would be wise to establish your own agency based on this preference. However, expanding your horizons can be a good experience too; so don't limit yourself to only what you know. Take advantage of the opportunity to expand your knowledge and skill to other areas. Since heading in a new direction may require additional education, licensing and state approvals, keep in mind the extra time and expense involved in these efforts. For more information on state and local requirements, contact your state department of insurance. Secure Financing Finding adequate financing is a primary concern for most agents forging out on their own. Unless you have large sums of money at your disposal, you'll need to approach a bank, the Small Business Administration (SBA) or a private individual to secure the funding needed to start your business venture. Many banks are wary of new business loans because of the risk involved. However, the SBA is usually eager to help-but competition for this type of funding can be intense. If you have contacts within the business community who might be willing to lend a hand by investing in your business, this may be a good avenue to pursue. Before you apply for financing, carefully prepare a thorough loan proposal containing detailed figures. Include the capital you need for start-up, a salary for yourself, and any other initial expenses you foresee. A detailed expense map allows lending institutions to examine your objectives, ensure that your business plan is solid, and determine the amount of risk involved in loaning you money. Develop a Marketing Plan Now that you've acquired the finances you need, develop a marketing plan so you can get down to business. To do this:
Identify your target market
Decide what makes your product unique
Develop a strategy to communicate this distinctiveness to potential customers Once successfully established, all business decisions should be based on this plan. So put these items in writing, and refer back to them before making any major changes. Determine Pricing, Distribution & Staffing Material, labor and overhead costs are the three main components of pricing. Before pricing the policies you'll sell, conduct a complete cost analysis and set prices in line with your marketing strategy. Your method of distribution should be based on the quickest, least expensive way to connect with your customers and get them the policies they need. Whether through face-to-face meeting, fax, email or postal mail, the method you choose should meet your customers' needs in the easiest possible way. Finally, if you plan to hire employees, define their roles clearly based on job function. Allot funds for training and continuing education so you and your workers can stay current in the industry. Gaining Your Independence
SUBMITTED BY JENIFER CREVIER |
| FRAUD YOU SHOULD KNOW |
INSURANCE FRAUD COST US $80 BILLION
NOW is the time to join together we can make a difference. SPECIALTY INSAURACNE AGENTS ASSOCIATION want you to know we are an organization that is in existence to support our agents and that there is strength in numbers/unity.
Division of Insurance Fraud
Established by the legislature in 1976, The Division of Insurance Fraud is the law enforcement arm of the Department of Financial Services and is responsible for investigating insurance fraud; crimes associated with claim fraud, insurance premium fraud, workers' compensation claim fraud, workers' compensation premium avoidance and diversions, insurer insolvency fraud, unauthorized insurance entity fraud and insurance agent crimes. The law enforcement detectives of the Division of Insurance Fraud also investigate viatical application fraud, defalcations of escrow funds held in trust by title insurance firms, and non-Medicaid related health care fraud.
According to a 2007-2008 report from the Coalition Against Insurance Fraud (CAIF), Florida's Division of Insurance Fraud leads the nation in the recovery of insurance fraud related losses through court ordered restitution. In Fiscal Year 2008/2009, cases presented for prosecution by The Division of Insurance Fraud resulted in more than $34 million in court ordered restitution. According to the Coalition's 2007-2008 statistics, Florida ranks in the top four (4) among all states' fraud divisions and bureaus in key measurements of success:
2nd in the number of arrests
3rd in the number of cases presented for prosecution
4th in the number of referrals
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel Vicki Cutcliffe. During Fiscal Year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The Division of Insurance Fraud received and reviewed 12,084 insurance fraud referrals and opened 1,971 cases for investigation.
Insurance fraud is not a victimless crime! It is estimated that insurance fraud costs the US $80 billion dollars or more a year. Those costs get passed down to you, the consumer. The CAIF estimates that cost to be approximately $950 per family. Reporting insurance fraud is easy and just a click away.
What is Insurance Fraud?
Any action taken by an individual with the intent to fraudulently obtain payment from an insurer is considered insurance fraud.
Insurance Consumer Tips
Use Caution!
When receiving phone calls after an accident. It could be someone trying to involve you in a fraud scheme.
If a life insurance sales pitch comes at a time when there is no apparent need to change insurance coverage, such as a marriage, a new child, or similar life change.
If an agent offers to replace your old life insurance policy, which has a high cash value, with a new 'better' one. Carefully review the premium schedule, benefits and restrictions on benefits, such as pre-existing conditions
Always!
Make sure you receive a written policy within sixty (60) days after you have paid your first premium.
Compare prices and options before purchasing insurance, especially if a price being offered is substantially lower than others.
Make sure you receive and review your detailed billings for all services.
When buying or renewing insurance coverage, check with the Office of Insurance Regulation to make sure you are dealing with a licensed agent and a licensed insurance company.
Protect your insurance identification numbers as you would a credit card number.
Never!
Write a premium check to an agent. Checks should be written to the insurance company or insurance agency.
Never sign blank insurance forms.
CONSUMER HELPLINE 1-800-342-2762
MY SAFE FLORIDA HOME HELPLINE 1-866-513-6734 (MSFH)
Florida Department of Financial Services · Division of Insurance Fraud · 200 East Gaines St. · Tallahassee, FL 32399-0324 · Legal Notices
Under Florida law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing. Public records from the Department of Financial Services are available by request. Public Records Request
Anyone with knowledge of suspicious activities may also contact the Department of Financial Services insurance fraud hotline at 1-800-373-0445 or www.MyFloridaCFO.com/fraud . The state offers a reward up to S25 000 for information directly leading to an insurance fraud arrest and conviction.
Together we can make a difference!
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| ARE YOU A HERD BUILDER? |
STRONG FENCES = CUSTOMER RETENTION
YOUR BUSINESSES MOST VALUABLE ASSET IS YOUR CURRENT AND PAST CUSTOMERS LIST.
IN TODAY'S MARKET OR ANY MARKET FOR THAT MATTER YOU NEED TO BE A HERD
BUILDER, YOU NEED TO BUILD A FENCE AROUND YOUR PRESENT AND PAST CLIENTS.
SO THIS MONTH I'M GOING TO SHOW HOW TO BUILD A FENCE AROUND YOUR CLIENTS.
TOUCHING YOUR CLIENTS
FIRST OF ALL YOU MUST "TOUCH" YOUR CLIENTS AT LEAST ONCE A MONTH. THIS MEANS
YOU MUST CONTACT THEM SOMEHOW EACH MONTH. A PERSONAL NOTE, EMAIL, POSTCARD, BIRTHDAY CARD OR NEWSLETTER.
A NEWSLETTER HAS THE MOST EFFECT IF DONE CORRECTLY. WHEN NEWSLETTERS ARE NOT ABOUT YOU OR YOUR STAFF, THEY HAVE THE BEST CHANCE OF BEING READ. THEY NEED TO BE MOSTLY ABOUT YOUR CUSTOMERS. JUST START BY FEATURING HOW YOUR CUSTOMERS HAVE DIRECTLY BENEFITED BY YOUR SERVICES. I DON'T DO A NEWSLETTER, I PREFER POSTCARDS. (SEE BELOW)
UNIQUE PERSONALITY
YOUR PERSONALITY SHOULD SHOW THROUGH ALL YOUR MARKETING AND COMMUNICATIONS. CUSTOMERS LOVE TO DO BUSINESS WITH FOLKS THEY KNOW, LIKE AND TRUST. IT'S HARDER TO STOP DOING BUSINESS WITH YOUR "BUDDY" THAN SOME COLD CORPORATION. THIS TYPE OF MARKETING IS ALL THE RAGE NOW... IT'S CALLED BRANDING.
ADDED VALUE
I KNOW IT'S TOUGH IN THE INSURANCE FIELD... BUT YOU HAVE GOT TO SHOW ADDED VALUE. THIS IS VITAL RIGHT NOW. WHY SHOULD SOMEONE DO BUSINESS WITH YOU RATHER THAN YOUR COMPETITION? WHAT MAKES YOU DIFFERENT THAN EVERYONE ELSE? (A HINT...IT'S NOT PRICE)
VISIT YOUR CUSTOMERS
STOP IN AND SEE YOUR CUSTOMERS FROM TIME TO TIME, AT LEAST OF ALL YOU SHOULD BE SHOPPING AND TRADING WITH YOUR CUSTOMERS AS MUCH AS POSSIBLE, WHEN YOU SEE THEM IN PUBLIC GO OUT OF YOUR WAY TO WAVE TO THEM OR GO OVER AND SAY HELLO, ETC.
CREATE A SPECIAL EVENT
OUR SPECIAL EVENT EVERY YEAR IS PICTURES WITH SANTA. I HAVE A CLIENT THAT IS WHITE HAIRED WITH A BIG OLD WHITE BEARD TO GO ALONG, HE'S BEEN INSURED HERE FOR YEARS. ONCE A YEAR HE COMES IN ON A SATURDAY MORNING AND WE HAVE FREE PICTURES WITH SANTA. IT'S REALLY SIMPLE, THE PRINTER WE USE IS THE SAME TYPE AS THEY USE IN WAL-MART, IT MAKES 8X10'S AND WALLET SIZE TOO. WE HAVE A SPECIAL TIME AND GIVE AWAY HUNDREDS OF PHOTOS WITH MY AGENCY'S NAME IN THE BACKGROUND. THEY GET SEVERAL FREE PHOTOS TO HAND OUT TO FRIENDS AND NEIGHBORS AS WELL AS A CD TO ALSO PRINT AND EMAIL THEIR OWN COPIES. I GET MY NAME IN FRONT OF UNTOLD NUMBERS OF FOLKS FOR YEARS TO COME. IT'S FANTASTIC TO SEE EVERYONE SO HAPPY THIS TIME OF YEAR.
REFER TO RETAIN
ESPECIALLY WITH YOUR COMMERCIAL ACCOUNTS AND YOUR CLIENTS IN SALES REMEMBER EVERYONE LIKES A REFERRAL, THE BEST WAY TO GET REFERRALS IS TO GIVE REFERRALS. MAKE SURE YOU HAVE AN AREA IN YOUR CUSTOMER WAITING AREA FOR CLIENTS TO POST THEIR BUSINESS CARDS. THIS IS A GREAT WAY TO KEEP CLIENTS COMING BACK, AS THEIR LESS LIKELY TO SWITCH AGENTS IF YOU'RE SENDING THEM A CUSTOMER EVERY NOW AND THEN.
WHERE DID THEY GO
LAST BUT NOT LEAST, CREATE A LOST CUSTOMER PROMOTION. I WORK MY LIST EVERY MONTH, EXCEPT FOR BAD ADDRESSES I MAIL ALL MY LOST CUSTOMERS FOR UP TO TWO YEARS AFTER THEIR GONE. (A TIP HERE ... YOU MARKET TO YOUR LOST CLIENTS DIFFERENTLY THAN YOUR CURRENT CLIENTS)
JUST DO WHAT I DO
WELL WE "TOUCH OUR CLIENTS" AT LEAST 24 TIMES A YEAR.
HERE'S HOW OFTEN:
EVERY MONTH WE SEND A WHIMSICAL POSTCARD TO MATCH A HOLIDAY THAT MONTH
WE SEND THEM A BIRTHDAY CARD, WE ALSO SEND ONE TO THEIR SPOUSE AND ALL THE DRIVERS THAT ARE ON THE POLICY
EVERY WEEK WE MAIL "THANK YOU" CARDS TO BOTH OUR NEW CUSTOMERS AND OUR DIRECT RENEWALS FOR THAT WEEK (GOTTA LOVE THOSE DIRECT RENEWALS)
NEXT WE MAIL TO THEM APPROXIMATELY 10 TIMES (ONCE A WEEK) DURING THE PEAK OF TAX SEASON FOR OUR TAX PREPARATION SERVICES
WHAT'S IT COST? CHEAPER THAN CHEAP, ALL TOLD LESS THAN A $1.00 PER MONTH PER CLIENT.
ONE LAST THOUGHT
FOR EVERY MONTH THAT YOU DON'T MAKE CONTACT WITH YOUR CLIENT, THE VALUE OF YOUR LIST DECREASES BY 10%.
UNTIL NEXT MONTH,
THE STORE FRONT OPERATOR
PS. NEXT MONTH I'LL DISCUSS HOW TO SPEND $500.00 OR LESS ON A ONE TIME PROMOTION THAT PRODUCES YEARS OF BENEFITS
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| NATIONS SAFE DRIVER ROAD TO SUCCESS |
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| IS YOU AGENCY REGISTERED? |
Licensure & Compliance
Agency Licensing
Any business location that an individual uses to perform a function that requires an agent license must be licensed or registered as an insurance agency. If you are an agent with a place of business in connection with your residence and have complied with Florida Statute 626.749, you are required to obtain an agency license for that location.
Agency Licensing Qualifications
Resident Agency
Registration (20-05)
License (21-05)
RESIDENT AGENCY REGISTRATION
TYPE AND CLASSES:
· 20-05 Agency (Registration)
Florida Statutes 626.015 (8) defines an "INSURANCE AGENCY" as a business location which an individual, firm, partnership, corporation, association, or other entity engages in any activity or employs individuals to engage in any activity which by law may be performed only by a licensed insurance agent.
Florida Statutes 626.112 (7)(a) defines "AGENCY REGISTRATION" as a registration that is obtained by the agencies that were in business prior to January 1, 2003, which is wholly owned by insurance agents currently licensed and appointed under this chapter, each incorporated agency whose voting shares are traded on a securities exchange, each agency whose primary function is offering insurance as a service or member benefit to members of a nonprofit corporation, and each agency who is regulated by the National Association of Securities Dealer (NASD).
Application Qualifications:
Complete an online application for License. Apply for license
Business must be located in Florida.
The sole proprietor, partner, owner, president, vice president, treasurer, secretary, directors and any other person who directs or participates in the management or control of an incorporated agency whose shares are not traded on a securities exchange are required to be fingerprinted via livescan process. Please click here for fingerprinting information and LiveScan locations throughout Florida. Individuals who are currently licensed and appointed in Florida are not required to be fingerprinted.
Must be an insurance agency that is wholly owned by licensed and appointed insurance agents; or
Must be an incorporated agency whose voting shares are traded on a securities exchange; or
Must be an agency whose primary function is offering insurance as a service or member benefit to members of a nonprofit corporation; or
Must be an agency regulated by the National Association of Securities Dealer (NASD).
Requirements for applicants with prior criminal history(Click Here)
Special Notes
The owner or owners of the agency shall sign an application for an insurance agency registration. If the agency is incorporated, the president and secretary of the corporation shall sign the application.
An agency registration is perpetual and does not have to be renewed.
RESIDENT AGENCY LICENSURE
TYPE AND CLASSES:
· 21-05 Agency (Licensure)
Florida Statutes 626.015 (8) defines an "INSURANCE AGENCY" as a business location which an individual, firm, partnership, corporation, association, or other entity engages in any activity or employs individuals to engage in any activity which by law may be performed only by a licensed insurance agent.
Florida Statutes 626.112 (7)(a) defines "AGENCY LICENSURE" as no individual, firm, partnership, corporation, association, or any other entity shall act in its own name or under a trade name directly or indirectly, as an insurance agency, unless it complies with s. 626.172 with respect to possessing an insurance agency license for each place of business at which it engages in any activity which may be performed only by a licensed insurance agent.
Application Qualifications:
Complete an online application for License. Apply for license
Business must be located in Florida.
The sole proprietor, partner, owner, president, vice president, treasurer, secretary, directors and any other person who directs or participates in the management or control of an incorporated agency whose shares are not traded on a securities exchange are required to be fingerprinted via livescan process. Please click here for fingerprinting information and LiveScan locations throughout Florida.
Requirements for applicants with prior criminal history(Click Here)
Special Notes
A license is obtained by the agencies that were in business on or after January 1, 2003, or the agencies that were in business prior to January 1, 2003, or do not meet the criteria listed for agency registration.
The owner or owners of the agency shall sign an application for an insurance agency license. If the agency is incorporated, the president and secretary of the corporation shall sign the application.
An agency license is valid for three (3) years and must be renewed.
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| State Farm Relief |
American system of free enterprise ?
Curtis Tyre
Tyre Insurance Agency
Specialty Insurance Agents Association, Board Member
State Farm Relief Act
I personally supported this bill last year and couldn't believe it when the Governor vetoed it. A Republican Governor vetoing a bill to futher the free enterprise system.
I am not supporting State Farm's position, but the American system of free enterprise. Insurance companies should be treated like any other business, they should be able
to charge a fair price for their products.
If the Florida regulators find a company in violation of the law, or one they feel is taking avantage of the Florida consumer,
they should punish that company, not the entire market.
The Florida market is really being controlled by Citizens Property Insurance Company, the company with the highest premiums and their actions to the disadvantage of the Florida customer. An example is the current cancellation and rewrite of the wind only policies written in Citizens, think
of the cost to Citizens, the agents and customers. One of the major flaws in the Florida system is Citizens. How can the Department find fault with one of the homeowner companies for taking advantage of the Florida customer when Citizens makes a living doing it. The new companies are using Citizens rate filings to establish their rates.
Most of them have used Citizens underwriting manuals for their underwriting rules. Every time Citizens makes a change, the takeout companies say "me to". Prior to the establishment of the FRPCJUA program, (after Hurricane Andrew in 1992) none of our companies asked about dogs, swiming pool slides or diving boards, trampolines, credit
reports, 4 point inspections, roofs or electrical panels. In fact I represented a company called VESTA that offered a special deluxe homeowners policy for older homes.
Citizens, the company of last resort has instituted a 30 day delay in binding coverage for the customer if there is a lapse in the previous coverage coverage and the date
you want to bind the Citizens policy. Citizens, the company of last resort has the greatest restriction on binding coverage for mobile homes, the people who can least
afford it. Citizens has the highest premiums and the least coverage for the mobile home owner, the people who need it the most. Citizens requires the agent to funish photos
of the property and then follows up with an inspection that takes more photos, what can be the purpose of this? Once Citizens does it, it is difficult for the Department to denie the takeout companies the same changes.
The STATE FARM relief act being introduced again in the State Legislature this year is a broader version of legislation that passed the Legislature last year but was vetoed by Gov. Charlie Crist. That bill would have removed the need for state approval for rate increases by only the largest insurers.
The bill to be considered during the 2010 session will remove entirely the state's role in approving property insurance rates.
"What we really wanted to do is trust the consumers," said Bennett, R-Bradenton. "Anybody should be able to shop with any company they want."
The bill was passed last year and seen by many as an attempt to keep State Farm - the state's largest private home insurer - from leaving the Florida market. It would have
been covered by the law passed last year, allowing it to raise rates.
The new law would apply to all companies, letting the market dictate rates, something that should have been passed years ago when the Republicans gained control of the legislature. Customers of insurance companies should have the right to keep their insurance with the company they choose at the price they are willing to pay.
Policy makers in the Florida Government have generally tried to control insurance rates. With the state forcing rates lower, it meant having the state's taxpayers and customers of all insurance companies taking on more of the risk for paying out claims in the event of a big hurricane.
When Crist vetoed the first law earlier this year, he portrayed his decision as a move in favor of consumers - who might see higher rates without state regulators
approving the proposed rate increases.
Gov. Crist still has to approve this new bill, and now may be more sensitive to consumers' concerns because he's in a U.S. Senate race and his competitor is a free market champion. I realize politics plays a large part in the insurance market and what is best for the consumer is generally what is best for the insurance industry and agents.
Can you name one item the government has regulated prices on that ended up being in the customers best interest over the long term? Insurance prices have been regulated far to long in Florida. Lets support this new bill, call or write your legislator today. |
| SIAA MEMBERS CAN SELL AARP MED SUPP |
CALL TODAY TO START SELLING AND MAKING MONEY TODAY
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| WE ALL NEED CE'S |
DON'T MISS OUT CE'S AT THE 2010 CONVENTION
We already have a new 2 hour class on agency management approved for the 2010 convention. There are two other 3 hour classes pending. One is a class on homeowners insurance and the second class is on the subject of flood insurance. We are planning on a class dealing with auto insurance and another class on the subject of Comprehensive General Liability Coverage, the sub contractors coverage. Many of our members sell the CGL policies and need to know more about them. We always have several participants at the TRADE FAIR who offer the CGL policy as part of their programs. It can add to the agencies bottom line. If you are not currently selling the CGL coverage, plan on attending our class and learn how to add it to your product offering for your customers. The homeowners class is based on the subject of the proper coverage's needed by your customers before a hurricane. Action you and your customer should take before a hurricane. The personal information they need to have available before a hurricane. The claims information you need to share with your customers after a hurricane. There will be a discussion on company adjusters, independent adjusters and public adjusters. We will discuss what the mediation process is. We will have the mandatory classes, 3 hour ethics class and a 1 hour wind mitigation class to meet the requirement for 2-20 agents and a senior annuity ethics class for our life license members. Our flood class will discuss in depth the flood insurance program. We will discuss what is a flood, the WYO program, the SFHA and who is eligible for a flood policy. The National Flood Insurance Program has a co op program for yellow page ads. If you qualify and by using a NFIP ad, they will pay from 25% to 75% of the yellow page ad cost. We will have information to share with you on this program and how you can make it a part of your budget for yellow page advertising. Last year Progressive, Infinity and Nations Safe Driver participated in our CE offerings for you. We are looking forward to the biggest and best Convention and Trade Fair in 2010 and we are making plans right now to make it be important for you to attend. |
| ACP REMINDER |
EVERY 2 YEARS ACP IS A MUSTThe Agent Certification Program (ACP) was introduced in 2008 to ensure that agents and support staff are knowledgeable about Citizens' rules, coverage and compliance requirements. Agents must complete the ACP before their initial appointment with Citizens and every two (2) years thereafter. · Agents who completed ACP in 2008 before their agency contract renewal date must re-certify before they can renew their appointment in 2010. · Agents who completed ACP in 2008 after their contract renewal date will not have to re-certify until their appointment renewal date in 2011. o Example: Agent Smith completed the ACP September 2008. Agent Smith's agency contract renewal is January 2010. Agent Smith would have to re-certify before the January 2011 renewal date. · You can find out when you completed the ACP and when you can take it again online by logging on the Agent Certification System. ACP is offered to agents online 24/7. Classroom options will be offered throughout the year. · There is a nominal fee of $30 for the classroom seminar, while the online program is presented at no charge. · Information about upcoming classroom opportunities is available on the Instructor Led Training section of Citizens' Web site. · Agents need to participate in only one (classroom or online) - both are not required. · Agents may complete the ACP classroom training any time in 2010 prior to renewal of their agency contract. · Although the topics in the ACP are the same - Citizens Overview, Personal Residential, Commercial Residential and Commercial Nonresidential; all have been updated to include the latest rules and information. Important - Completion of ACP is only one step in the renewal of an agent appointment with Citizens. Agency principals will also need to complete the renewal process in the Agent Renewal System when they receive their annual renewal e-mail notice. View "News You Can Use" on the Agent Resources section of our Web site daily to learn what's new at Citizens! Agents and CSRs may submit underwriting questions via the "Contact Us" option on our Web site. You should receive a response within 2 business days. REPRINTED FROM Citizens Agent Resources Web site. FOR MORE INFO 1-800-737-5822 or P.O. Box 10749, Tallahassee, FL 32302. Content subject to change. For the latest information, visit the Citizens Agent Resources Web site. Citizens Property Insurance Corporation www.citizensfla.com |
| CHANGES TCOMING TO PR-W, CR-W, AND CNR-W |
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2010 CHANGES IN WIND-ONLY POLICIES
The following changes apply to Personal Residential Wind-Only (PR-W), Commercial Residential Wind-Only (CR-W) and Commercial Nonresidential Wind-Only (CNR-W) new business and renewal policies effective 2/1/2010 or later. Rate Changes Citizens has received approval to implement amended rates for PR-W, CR-W and CNR-W lines of business with effective dates of February 1, 2010, and later for both new and renewal policies. The rates are subject to a 10 percent cap, excluding coverage changes, surcharges and a required rapid cash build-up provision for the Florida Hurricane Catastrophe Fund (described in ATB #016-09). The manuals and rating worksheets have been updated to include the 2010 rates (see version 01 10). More information regarding rate changes is available in the Frequently Asked Questions document on the 2010 Changes tab on the Agent Resources section of the Citizens Web site. The rate change for individual policies will vary, depending on territory and, in some instances, may result in a rate decrease. We've created the following Territory Percentage Rate Changes spreadsheets that chart the approved percentage rate changes, divided by territory and product line. · PR-W Territory Percentage Rate Changes · CR-W Territory Percentage Rate Changes · CNR-W Territory Percentage Rate Changes Manuals and Forms The latest editions of Citizens' manuals and forms for wind-only lines of business have been posted on our Web site. The edition date for updated forms is 01/2010 and 02/2010 for manuals. Detailed Manual Revisions Guides for PR-W, CR-W and CNR-W are posted under the 2010 Changes tab. These guides provide side-by-side comparisons of manual updates and a summary explaining each change. All Personal Residential Wind-Only (PR-W) The following form wording was revised to clarify intent or comply with Florida law: · Earth movement and settlement exclusion · Water damage exclusion · Duties after loss condition · Mediation or appraisal condition · Cancellation and non-renewal conditions All Commercial Wind-Only (CR-W and CNR-W) · Manuals References to the Market Equalization Surcharge were removed as this surcharge currently is not being assessed and in the future will be referred to as the Citizens Policyholder Surcharge. Wording was added stating that policies may not be canceled and rewritten to circumvent upcoming rate, rule, coverage or surcharge changes. Individual risk rating rule was amended to clarify that any scheduled building with a replacement cost exceeding $10 million must be submitted 30 days in advance. · Forms The following policy form (CIT CR 2 and CIT CP 2 versions 01 10) wording was revised to clarify intent or comply with Florida law: § Earth movement and settlement exclusion § Water damage exclusion § Duties in the event of loss or damage § Loss payment condition § Mediation or appraisal condition § Cancellation and non-renewal conditions Policyholder Notice Below are links to annotated versions of the policyholder notices outlining changes to the policy forms: · Personal Residential Wind-only · Commercial Residential Wind-only · Commercial Nonresidential Wind-only View "News You Can Use" on the Agent Resources section of our Web site daily to learn what's new at Citizens! Agents and CSRs may submit underwriting questions via the Contact Us option on our Web site. You should receive a response within 2 business days. YOU MAY contact Agent Administration at Agents@CitizensFla.com , 1-800-737-5822 or P.O. Box 10749, Tallahassee, FL 32302. Content subject to change. For the latest information, visit the Citizens Agent Resources website frequently. Citizens Property Insurance Corporation www.CitizensFLA.com REPRINTED FROM Citizens Property Insurance Corporation |
| U.S. SECURTIY INSURANCE MOTORCYCLE PROGRAM |
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| STATE FARM GETS 14.8% RATE HIKE |
LIKE A GOOD NEIGHBOR, STATE FARM TO STAY HERE, RAISE RATESBy MICHAEL PELTIER THE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, Dec. 16, 2009.....State Farm Florida Insurance Co. will remain in the Florida market after dropping 125,000 policies and receiving a 14.8 percent rate hike under an agreement reached Wednesday with state regulators. Almost a year after the company announced plans to drop its nearly 1 million policies and exit the state, Florida Insurance Commissioner Kevin McCarty said an agreement had been reached with the company, the state's largest private property insurer, that ends legal proceedings and ensures the company will remain a player in the state for at least another year. "The agreement we reached, I think is beneficial to the people of the state of Florida, the policyholders of State Farm, State Farm insurance agents and the insurance marketplace as a whole," McCarty told reporters in Tallahassee. "Most importantly, it will allow State Farm of Florida to be a substantial policy holder in the state of Florida and a significant market player." State Farm officials said the deal will allow them to continue offering policies in the Florida market by recognizing the company's need to jettison riskier policies and raise rates to more adequately offset non-hurricane losses. "This is an important step," State Farm President Jim Thompson said in a statement. "It helps stem State Farm Florida's deteriorating financial condition. It reduces the company's risk exposure. It moves us closer to rate adequacy. And for most of our customers it means that State Farm Florida continues to be there for them." Major provisions of the agreement will allow State Farm to begin non-renewing policies beginning in August 2010. Notices will begin going out in February as state law requires insurers to give customers at least six months notice before dropping their policies. Under terms of the agreement, the company will immediately be allowed to raise its premiums by 14.8 percent when policies are renewed. The increase will come atop additional premium hikes brought on by the company's decision earlier this year to discontinue a menu of optional discounts that in some cases reduced rates by as much as 28 percent. State Farm will also begin to allow its Florida agents to sell policies with other companies, releasing them from exclusive contracts that had been one of the most troublesome prospects for state officials - that State Farm agents would lose all their business because of the exclusivity. State regulators say they are confident that many policyholders who are dropped will be able to find policies with other private insurers and not be relegated to Citizens Property Insurance Corp., the state-run insurance pool that now covers more than 1.1 million policyholders. The consent decree between State Farm and Florida officials that was signed earlier Wednesday ends the company's legal battle that began after Florida Insurance officials in January denied the company's 47 percent rate hike request. State Farm's plan to exit the state was seen by insurers and many Republicans as illustrative of a larger problem - that efforts by government to keep rates affordable were threatening the marketplace by leading companies to want to leave the state. A proposal by Sen. Mike Bennett, R-Bradenton, (SB 876, HB 447) and Rep. William Proctor, R-St. Augustine, likely to be considered by lawmakers in the coming year would allow insurance companies to raise rates without OIR approval. State regulators would still require insurance filings - and would be able to determine whether companies are charging rates that are high enough to allow the company to pay claims. The proposal has been endorsed by Florida TaxWatch, Associated Industries of Florida and the Florida Association of Insurance Agents. Proctor said Wednesday's action would have no impact on his decision to press on with that legislation. Premiums in Florida, including those at Citizens, remain actuarially unsound and remain so regardless of State Farm's decision, he said. "We are going have to face the fact that insurance rates must be high enough to offset the risk involved," Proctor told the News Service. "Ain't nothing changed," by the State Farm deal, added Bennett. Industry representatives applauded the deal but said the state's insurance market problems continue to extend far beyond State Farm. "Florida remains a very risky state for insurers," said Sam Miller, a spokesman for the Florida Insurance Council. "These successful negotiations signal a positive step toward seeking well-conceived solutions that are best for consumers as well as the industry." Likewise, the Florida Chamber of Commerce said systemic reform is also needed and the bills offered by Proctor and Bennett help address that need. "During the 2010 Legislative Session, we will continue to support solutions to create solvency, by again fighting for critical consumer choice legislation and reducing the exposure of Citizens Insurance Company and the CAT fund," said Chamber President and CEO Mark Wilson. --END-- 12/16/2009 Independent and Indispensable http://www.newsserviceflorida.com
REPRINTED FROM: THE NEWS SERVICE OF FLORIDA |
| MORSTAN WHATS SELLING |
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| ACCU-AUTO FREE 30-DAY DEMO |
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| FYI |
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LAWMAKERS ASK: DID CITIZENS RATES GO UP ENOUGH?
By DAVID ROYSE THE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, Dec. 17, 2009......When lawmakers decided earlier this year that rates for coverage by Citizens Property Insurance needed to go up to make sure the company had enough to pay claims, they tried to cushion the blow by putting in the final bill a stipulation that rates couldn't go up any more than 10 percent a year. Turns out, they didn't have to worry - regulators later approved a rate increase of about 5.2 percent on average for homeowners in the state-backed company's high risk areas. Some lawmakers are now angry that the approved rate increase was far below the upper limit of 10 percent, and say they'll likely push harder in the coming year to get the insurer's rates higher to avoid it being unable to pay claims in the event in the big storm. Several House members believed the 10 percent cap on rate increases was simply an assurance that they wouldn't go higher than that, not a license for the Office of Insurance Regulation to approve a smaller increase. "I can assure you that I am looking for the proper way to spell that out more clearly," said Rep. Alan Hays, R-Umatilla. "I am not at all pleased." Many legislators - though not all - agree that Citizens has been charging too little for many of its coastal customers for a long time, a result of an effort to keep rates low in response to a chorus of complaints about high premiums that followed the busy hurricane seasons of 2004 and 2005. The problem is, if Citizens can't pay its claims the next time there's a big storm, everyone in the state could be affected. "The Office of Insurance Regulation is perpetuating an extreme risk to every property owner in Florida," said Hays. "When Citizens can't pay claims, everybody has to chip in with assessments....As far as I'm concerned, OIR did a gross disservice to the people of this state." The sponsor of the legislation that allowed for Citizens to raise rates, ending a rate freeze that had been in effect since 2007, also was disappointed by the roughly 5 percent increase for Citizens' highest risk customers. "That was meant to be 10 percent," said Rep. Bryan Nelson, R-Apopka. "Ten percent used to mean 10 percent. I guess they interpreted it differently." Office of Insurance Regulation officials aren't apologizing. The agency says the law was meant to get Citizens back to actuarially sound rates - and in some cases the company's rates were actually too high. In some inland areas, in particular, the rates charged were too high and are going down Jan. 1. That lowers the average. The measure tasked the agency with beginning a return to rates based on an actuarial model and the agency followed the law, said OIR spokesman Tom Zutell. Not everyone in the Legislature agrees that the law was intended to boost rates by a set 10 percent. Sen. Mike Fasano, R-New Port Richey, wanted to keep rates frozen and have no increase. "It is not for the Legislature to decide what rates should be," Fasano said Thursday. "If we start getting into the rate-making business, it's going to be truly political and allow the lobbyists for the insurance industry to affect those rates. The legislation was clear - a cap of 10 percent. Somewhere between zero and 10 percent." Hays and many other proponents of higher Citizens rates say Gov. Charlie Crist's administration has already made insurance rates a political issue. Crist has made it clear that when it comes to the insurance industry and the customers, he'll side with the consumer, and running for the U.S. Senate, he's certainly not going to change that stance. That political calculation is behind the rate decisions made by OIR and Florida Insurance Commissioner Kevin McCarty, Hays alleges. "Kevin McCarty is Gov. Crist's political pawn," Hays said in an interview with the News Service. Rep. Evan Jenne, D-Dania Beach, said he doesn't disagree that Citizens rates need to go higher in case there's a monster storm. But he said with Floridians facing 11 percent unemployment and massive foreclosures in some places, "it's just not the right time." "We should be trying to help homeowners, not jacking up prices," Jenne said Thursday. "We have people that are struggling to keep their homes." Fasano also said that someone needs to look out for consumers and that if Hays files a bill to try to raise rates higher, "you will see a senator named Mike Fasano who will be adamantly opposed to that." Backers of the rate increases, including industry officials, say consumers have been getting a break - the rates have been frozen for more than two years. But now, the state runs the risk of seeing Citizens go belly up if there's a huge storm. "I would much rather explain to someone why their premium has to go up than have to explain to someone why their house can't be repaired becase there's no money," said Hays. The rate increases take effect Jan. 1. --END-- 12/17/2009 Independent and Indispensable http://www.newsserviceflorida.com
AUSLEY WEIGHING CFO RUNBy JOHN KENNEDY THE NEWS SERVICE OF FLORIDA THE CAPITAL, TALLAHASSEE, Dec. 17, 2009..... The new year may bring a new candidate for the Chief Financial Officer's race - with former Democratic state Rep. Loranne Ausley saying she will spend the holidays weighing a run. Ausley, who has been in the race to succeed term-limited Sen. Al Lawson, D-Tallahassee, next year, acknowledged that a switch was possible. Democrats have yet to field a candidate for the race to succeed CFO Alex Sink, a candidate for governor. Ausley said she's been courted by friends and party leaders to enter the race. "While these calls are flattering, the bottom line to me is making sure I can serve in a meaningful way - and have the greatest impact," Ausley told the News Service of Florida. "We need leaders who make decisions based on what can make our state stronger for the next generation," she added. "Clearly, CFO is an important office and one that can have a huge impact on the daily lives of Floridians, especially in these very tough times." Republican Senate President Jeff Atwater of North Palm Beach is considered frontrunner in the race - mostly on the strength of having raised $1 million through Sept. 30, the most recent fund-raising quarter. Republican Rep. Pat Patterson of Deland is challenging Atwater for the GOP nomination. Democrats, though, have struggled to find a contender. Miami Mayor Manny Diaz, Bud Chiles, son of the late governor, and Palm Beach County Sens. Ted Deutch and Jeremy Ring are among those who have either been courted or took a look at the race and declined. Lawson, himself a candidate for Congress, last week said he was looking at running for CFO - but the glance lasted less than 24 hours before he recommitted to challenging fellow Democratic U.S. Rep. Allen Boyd. "All of this is to say that I am considering entering the race, but I won't make any final or official decision until after the first of the year," Ausley said. The Florida Democratic Party sounded ready to embrace the former four-term House member - if she runs. "She has a great record as a children's advocate, has led efforts to create jobs and also to hold Tallahassee accountable," Democratic Party spokesman Eric Jotkoff said. "We would be very excited about her entering the race." --END-- 12/11/2009 Independent and Indispensable http://www.newsserviceflorida.com
Statement by Florida Insurance Commissioner Kevin McCarty on California Regulator's Efforts to Determine Iranian Ties to Insurers' Investments
"Today the California Department of Insurance issued a press release highlighting their state's efforts to determine the extent to which insurers transacting business in California hold investments in companies that conduct business in Iran. We applaud the leadership of Insurance Commissioner Steve Poizner on this sensitive and important issue, and we look forward to working with the Commissioner on a national level. The Florida Office of Insurance Regulation currently monitors the prohibition of investments related to terrorists and terrorist support organizations identified by the U.S. Department of the Treasury per Executive Order 13224 signed by President George W. Bush on Sept. 23, 2001. Currently, it is illegal for insurers to invest directly in companies with business operations in the defense, nuclear, petroleum or natural gas, or banking and financial services industries in Iran. Commissioner Steve Poizner and the California Department of Insurance have taken this principle to the next level - to determine if the insurance industry investing in companies with operations in Iran, including investments in securities denominated in Iranian currency (the Rial). The Florida Office of Insurance Regulation is currently reviewing California's methodology with an eye toward creating a complete and thorough analysis of compliance with state and national laws. Moreover, as Secretary-Treasurer of the National Association of Insurance Commissioners (NAIC), I have consulted with other state insurance commissioners to evaluate the practicality of developing a national initiative similar to the undertaking by the California Department of Insurance. I have already contacted the NAIC's Securities Valuation Office to ascertain the feasibility of leveraging national resources to review the financial statements of national insurers to determine their exposure to companies with operations in Iran." About the Florida Office of Insurance Regulation The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The Office protects Florida consumers through regulatory oversight of: insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. For more information about the Office, please visit www.floir.com. If you would like to review and compare homeowners insurance rates in Florida, go to www.shopandcomparerates.com .
Orlando agent barred by CFO Sink found guilty for insurance fraud scheme
Florida CFO Alex Sink on Friday announced that an Orlando insurance agent she ordered barred for life from transacting insurance in Florida in August has been sentenced for third-degree felony grand theft after he submitted fraudulent insurance applications for family members and phantom employees in order to collect sales commissions. As part of his plea agreement, William Stanley Potocki, 44, was sentenced to 24 months of probation, 50 hours community service, and was ordered to pay more than $3,900 in restitution. "Fraud doesn't just hurt insurance companies, it inflicts real financial pain on families, businesses and communities because we all pay for fraud through higher insurance premiums," said CFO Sink. "Our message is clear -- Florida will not tolerate fraud and if you attempt these types of scams you will be prosecuted. I also want to commend AFLAC for detecting and reporting this scheme." From November 2007 to February 2009, Potocki conducted business as an agent for American Family Life Assurance Company of Columbus (AFLAC) and provided insurance products to numerous businesses in Central Florida. An audit of his business records led the AFLAC compliance department to believe he was creating fraudulent insurance applications for family members and phantom employees of the companies he serviced. AFLAC's Special Investigative Unit referred the case to CFO Sink's Division of Insurance Fraud for criminal investigation. The Division of Insurance Fraud investigation confirmed that Potocki had submitted fraudulent insurance applications, and he was arrested on May 26, 2009. On August 24, 2009, the Division of Agent and Agency Services revoked the licenses of Potocki and his agency bearing his name, and permanently barred him from working in the insurance business in Florida. DIF made over 800 insurance fraud-related arrests in the last fiscal year, and investigates various forms of insurance fraud relating to health, life, auto, property and workers' compensation insurance policies. Depending on the estimated loss amount, the Department of Financial Services will pay up to $25,000 for information directly leading to an arrest and conviction. Anyone with information about this or any other suspected insurance fraud is asked to call CFO Sink's Fraud Fighters Hotline at 1-800-378-0445 or visit to www.MyFloridaCFO.com/fraud .
My Family CFO: Beware the cyberscams of holiday shopping
According to Consumer Reports, cybercriminals have bilked $8 billion from consumers in the past two years. Watch for scams and cheats when you are web shopping this holiday season.
McAfee security company is warning of the most common swindles crooks will use to get your money as you cybershop. Crooks often pretend to sell you something that will never ship and also operate by grabbing your identity or gaining access to your bank account.
According to Jeff Green, senior vice president of McAfee Labs, these thieves follow seasonal trends and create holiday-related web sites, scams and other convincing e-mails that can trick even the most cautious users.
Scam 1: Charity phishing - be careful to whom you give
Scam 2: Fake invoices from delivery services to steal your money
Scam 3: Social networking - a cybercriminal wants to be your friend
Scam 4: The dangers of holiday e-cards
Scam 5: Luxury holiday jewelry comes at a high price
Scam 6: Practice safe holiday shopping - online identity theft on the rise
Scam 7: Christmas carol lyrics can be risky searches
Scam 8: Outbidding for crime - auction site fraud
Scam 9: Password theft is rampant
Scam 10: E-mail banking scams through official-looking e-mails
Read more about these cyberscams.
Don't let the crooks get away with it! Never click on links in suspicious e-mails, which can easily redirect you to false or misleading web sites. If you create a new account use a unique password with letters and symbols, rather than using the same password for all of your logins.
Chief Financial Officer Alex Sink's Consumer eViews 1-877-MY-FL-CFO
People's Trust MGA to pay penalty, alert consumers in settlement reached with CFO Sink
Florida CFO Alex Sink announced that People's Trust Insurance's Managing General Agent (MGA) will pay $100,000 and contact customers who may not have purchased insurance from a licensed agent, based on the terms of a settlement agreement with the Department of Financial Services finalized today. In March 2009, CFO Sink's Department of Financial Services took legal action against People's Trust MGA, LLC charging that they had used unlicensed personnel to market and sell homeowners insurance. "It is my responsibility to make sure Floridians are getting the best advice for protecting their families and homes by properly licensed agents," said CFO Sink. "Standing up for Florida's consumers is one of my top priorities, which is why it was so important to ensure that People's Trust is following the law by only using licensed insurance agents in the transaction of their insurance business." People's Trust MGA will pay a $100,000 administrative penalty, one of the largest penalties ever paid to the Department of Financial Services by an insurance agency. People's Trust MGA must also send a letter to every customer who bought homeowners insurance between March 6, 2008, and March 5, 2009, if their policies have not already been re-underwritten, offering a review of their coverage with a licensed insurance agent or customer representative. These customers will have the option to compare policies, re-underwrite their policy, or cancel their policy without penalties and have their pro-rated unearned premiums refunded. People's Trust must pay the $100,000 penalty within 30 days and mail the policyholder letters, to be approved by CFO Sink's Department, at least 30 days prior to the renewal of the customers' insurance policies. The Settlement Stipulation for Consent Order was signed December 1, and formalized by the Consent Order signed today. CFO Sink issued an Order to Show Cause on March 5, 2009 against the Boca Raton-based People's Trust MGA, LLC after an investigation by CFO Sink's Department revealed that People's Trust MGA had allowed unlicensed agents to transact insurance. Link to the Settlement Stipulation for Consent Order with People's Trust MGA, LLC Link to the Consent Order with People's Trust MGA, LLC Consumers with coverage questions should visit CFO Sink's web site, www.MyFloridaCFO.com , or call her consumer helpline at 1-850-413-3089 or 1-877-MY-FL-CFO.
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| TAX PREP EARN $300.00 PER HOUR |
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| CHECK YOUR INSURANCE |
Florida law requires business owners to have workers' compensation and commercial automobile insurance under the following circumstances
Running a small business? Check your insurance
If you own a small business or are thinking of starting a small business, here are some things you need to know when it comes to insurance.
Florida law requires business owners to have workers' compensation and commercial automobile insurance under the following circumstances:
Commercial automobile coverage is required for businesses that own, lease or operate a motor vehicle.
Workers' Compensation insurance is required for any non-construction business employing four or more people including corporate officers, and any construction business with one employee, including any non-exempt business owners.
Workers' compensation coverage
Workers' compensation coverage provides medical and partial wage replacement benefits to employees injured as a result of work-related activity. In most instances, having insurance coverage also protects the employer from a civil lawsuit by an injured employee. In Florida, this coverage is provided by a workers' compensation policy, secured by the employer.
The type of business - defined by classification codes as either construction or non-construction - and the business structure are the key factors in determining whether coverage is required.
Applications for election of coverage or exemption from coverage must be filed with and approved by the CFO Sink's Division of Workers' Compensation. These applications have specific requirements and may require submission of additional documentation. Applications and instructions are available at the Division's web site at www.MyFloridaCFO.com/wc .
For more information on workers' compensation insurance, call the DFS Bureau of Compliance toll-free at 1-800-742-2214; the Workers' Compensation Employer Customer Service Center at (850) 413-1601; or visit the Division's Web site at www.MyFloridaCFO.com/wc .
Commercial automobile coverage
If your business owns, leases or operates motor vehicles, you must obtain commercial automobile coverage. Coverage requirements and options vary, so check with your insurance agent to determine what types of coverage you need. You also should contact your city and county government and the U.S. Department of Transportation to check for any other requirements.
Commercial motor vehicle coverage is similar to the auto insurance most people carry on their personal cars. Most policies include property coverage for your vehicle, as well as liability coverage for damage caused by an employee driving a company vehicle. If you are using your personal automobile for business purposes, you may not be covered, as the rules and guidelines are different for each insurance company. Review the business use of your personal vehicle with your insurance agent to be sure you are covered.
You can purchase coverage through an insurance company, or you can self-insure your vehicles. For more information on self insurance, contact the Florida Department of Highway Safety and Motor Vehicles, Division of Financial Responsibility, Neil Kirkman Building, 2900 Apalachee Parkway, Tallahassee, FL, 32399-0500, or call (850) 617-2000.DFDSFDSFDS |
| FIRST INSURANCE NETWORK INCREASES AGENCY PROFITS |
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SPECIALTY INSURANCE AGENTS ASSOCIATION MEMBERSHIP AND BENEFITS |
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WHY SHOULD I BE A MEMBER OF SPECIALTY INSURANCE AGENTS ASSOCIATION ?
Benefits of being a member of an agent's organization
- Being a member of an Association provides strength to the industry.
- Specialty Insurance Agents Association provided assistance to agents in getting their agencies licensed.
- Specialty Insurance Agents provided the classroom course for agents to meet their Citizens Insurance requirements.
- UNITE
- Higher commissions through our flood program. We have negotiated a flood program paying the agency 20% on new business and 20% on renewal business plus 1% to your ASSOCIATION. You can sign up to write flood insurance even if you don't have a homeowners market.
- E & O INSURANCE available
- Annual convention and trade fair.
- Members can receive FREE CE credits on all classes offered at convention.
- Industry Designation (to be presented at the 2009 convention).
- Specialty Insurance Agents Association has entered into an agreement with the University of Central Florida to sponsor an Industry Designation for the Agent and CSR. The Designation will be available in 2009.
- Board Members available to assist members with questions or problems.
- Assistance in obtaining appointments with companies. At the annual convention/trade fair there are several dozen participating companies looking to appoint agents. While appointments cannot be guaranteed, we can initiate an introduction for you to the marketing staff of these companies.
Want to become a member of Specialty Insurance Agents Association? Just call to receive the new membership application emailed, faxed or download form today. Don't delay call Susan Graves at 1-888-290-8436
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| ONE LAST THING |
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THE GIFT
By
Author Unknown
T'WAS THE NIGHT BEFORE CHRISTMAS,
HE LIVED ALL ALONE,
IN A ONE BEDROOM HOUSE MADE OF
PLASTER AND STONE.
I HAD COME DOWN THE CHIMNEY
WITH PRESENTS TO GIVE,
AND TO SEE JUST WHO
IN THIS HOME DID LIVE.
I LOOKED ALL ABOUT,
A STRANGE SIGHT I DID SEE,
NO TINSEL, NO PRESENTS,
NOT EVEN A TREE.
NO STOCKING BY MANTLE,
JUST BOOTS FILLED WITH SAND,
ON THE WALL HUNG PICTURES
OF FAR DISTANT LANDS.
WITH MEDALS AND BADGES,
AWARDS OF ALL KINDS,
A SOBER THOUGHT
CAME THROUGH MY MIND.
FOR THIS HOUSE WAS DIFFERENT,
IT WAS DARK AND DREARY,
I FOUND THE HOME OF A SOLDIER,
ONCE I COULD SEE CLEARLY.
THE SOLDIER LAY SLEEPING,
SILENT, ALONE,
CURLED UP ON THE FLOOR
IN THIS ONE BEDROOM HOME.
THE FACE WAS SO GENTLE,
THE ROOM IN SUCH DISORDER,
NOT HOW I PICTURED
A UNITED STATES SOLDIER.
WAS THIS THE HERO OF WHOM I'D JUST READ?
CURLED UP ON A PONCHO, THE FLOOR FOR A BED?
I REALIZED THE FAMILIES
THAT I SAW THIS NIGHT,
OWED THEIR LIVES TO THESE SOLDIERS
WHO WERE WILLING TO FIGHT.
SOON ROUND THE WORLD,
THE CHILDREN WOULD PLAY,
AND GROWNUPS WOULD CELEBRATE
A BRIGHT CHRISTMAS DAY.
THEY ALL ENJOYED FREEDOM
EACH MONTH OF THE YEAR,
BECAUSE OF THE SOLDIERS,
LIKE THE ONE LYING HERE.
I COULDN'T HELP WONDER
HOW MANY LAY ALONE,
ON A COLD CHRISTMAS EVE
IN A LAND FAR FROM HOME.
THE VERY THOUGHT
BROUGHT A TEAR TO MY EYE,
I DROPPED TO MY KNEES
AND STARTED TO CRY.
THE SOLDIER AWAKENED
AND I HEARD A ROUGH VOICE,
"SANTA DON'T CRY,
THIS LIFE IS MY CHOICE;
I FIGHT FOR FREEDOM,
I DON'T ASK FOR MORE,
MY LIFE IS MY GOD,
MY COUNTRY, MY CORPS."
THE SOLDIER ROLLED OVER
AND SOON DRIFTED TO SLEEP,
I COULDN'T CONTROL IT,
I CONTINUED TO WEEP.
I KEPT WATCH FOR HOURS,
SO SILENT AND STILL
AND WE BOTH SHIVERED
FROM THE COLD NIGHT'S CHILL.
I DIDN'T WANT TO LEAVE
ON THAT COLD, DARK, NIGHT,
THIS GUARDIAN OF HONOR
SO WILLING TO FIGHT.
THEN THE SOLDIER ROLLED OVER,
WITH A VOICE SOFT AND PURE,
WHISPERED, "CARRY ON SANTA,
IT'S CHRISTMAS DAY, ALL IS SECURE."
ONE LOOK AT MY WATCH, AND I KNEW HE WAS RIGHT.
"MERRY CHRISTMAS MY FRIEND, AND TO ALL A GOOD NIGHT."
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- WE WANT TO KNOW WHAT YOU WANT.
- ARE THERE SOME OTHER TOPICS YOU WOULD LIKE TO SEE IN THE UNITE?
- REMEMBER WE PUBLISH THIS FOR YOU.
- SO CALL US OR EMAIL TODAY WITH YOUR IDEAS.
- WE ARE A BOARD OF TWELVE , FROM DIVERSE TYPES OF AGENCIES, WITH MORE THAN 150 YEARS OF EXPERIENCE.
- SHANE GRIFFIS- President
- MARC PEASE - Vice President / UNITE PUBLISHER
- PAT LORELLO - Treasurer
- FRAN COLUCCI - Secretary / UNITE EDITOR
- KIDSON BARNES - Board Member
- SUSAN GRAVES - Board Member / ED
- DEBORAH GREY - Board Member
- MARCUS HANIMAN - Board Member
- MICHELLE MOSHER - Board Memeber
- CURTIS TYRE - Board Member
- ARNIE VASQUEZ - Board Member
Have a question for the board EMAIL or CALL us today.
EMAIL info@specialtyinsuranceagents.org
CALL 1-888-290-8436
Sincerely,
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SPECIALTY INSURANCE AGENTS ASSOCIATION
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