- March 30, 2005
- All Florida Agents
- Department of Financial Services/Office of Insurance Regulation/Increased Investigations
We are advised that the Department of Financial Services/ Office of Insurance Regulation (the Department) has stepped up its enforcement of certain regulations.
First, be advised that if you move your office or relocate a Branch Office and fail to advise the Department of the new address and this comes to the attention of the Department at a later date, the Department will impose a fine. Although this appears to be an administrative oversight in an agent's office, it seems to be an increasing problem and many fines have been assessed against title agencies.
We are further advised that the Department is increasing
its efforts to enforce state Statutes and Regulations including such matters as
rebates and improperly formed
We are attaching to this Bulletin two exhibits, noted as Exhibits A & B, respectively, previously distributed by the Department; ABA standards (Exhibit A); and, the text of Department Information Bulletin on Improper Practices (Exhibit B). We urge you to comply with these two Exhibits, all Statutes and the Administrative Code.
THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
- Bulletins Replaced:
- Related Bulletins:
- FL000100 Violative Actions, Florida Department of Insurance
- FL000101 Violative Actions, Florida Department of Insurance - Revisited
- Underwriting Manual:
- Exceptions Manual: