The purpose of this amendment is to clarify and correct Rule 69B-231.020, F.A.C., which sets forth the scope of Rule Chapter 69B-231, F.A.C. This chapter contains penalty guidelines for insurance representatives licensed by the Division of Insurance ...

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Insurance Agents and Agency Services

RULE NO.:RULE TITLE:

69B-231.020Scope

PURPOSE AND EFFECT: The purpose of this amendment is to clarify and correct Rule 69B-231.020, F.A.C., which sets forth the scope of Rule Chapter 69B-231, F.A.C. This chapter contains penalty guidelines for insurance representatives licensed by the Division of Insurance Agent and Agency Services.

SUMMARY: The amendment corrects the scope by providing that the chapter is applicable to managing general agents and surplus lines agents. It also deletes subsection (2) since it unnecessarily lists licensees that are not subject to this rule chapter.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION: The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: The Department conducted an economic analysis of the potential impact of the proposed changes and determined that there will be no adverse economic impact or regulatory increases that would require legislative ratification.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 624.308, 626.9957(12), 626.9958 FS.

LAW IMPLEMENTED: 624.307(1), 624.308(2), 626.207(2), 626.611, 626.621, 626.9957 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:

DATE AND TIME: July 9, 2015, 11:00 a.m.

PLACE: 200 E. Gaines Street, Room 142, Larson Building, Tallahassee, FL 32301

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Nevada Martinez, [phone]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Ray Wenger, Financial Administrator, Bureau of Investigation, Division of Agent and Agency Services, Florida Department of Financial Services, 200 E. Gaines Street, Tallahassee, FL, 32399-0318 or [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69B-231.020 Scope.

(1) This rule chapter shall apply to all resident and nonresident insurance agents, surplus lines agents, managing general 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.

(2) 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.

Rulemaking Authority 624.308(1), 626.207(8), 626.9957(12), 626.9958 FS. Law Implemented 624.307(1), 624.308(2), 626.207(82), 626.611, 626.621, 626.9957 FS. History–New 7-13-93, Amended 8-15-00, 9-23-02, Formerly 4-231.020, Amended 8-15-06, 9-10-14, ___________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Ray Wenger, Financial Administrator, Department of Financial Services

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jeff Atwater, Chief Financial Officer, Department of Financial Services

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 3, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: April 15, 2015