Bulletin: FL000101

Date:
January 07, 2003
To:
All Issuing Offices and Agents in Florida
RE:
Violative Actions, Florida Department of Insurance - Revisited

Dear Associates:

Under date of August 20th, 2002, Stewart Title Guaranty Company through the Florida Legal Department issued Bulletin FL000100 , which advised all agents of new concerns of the Department of Insurance as to various questionable practices by some agents

Recently underwriters and agents have been contacted directly by investigators working for the Department of Insurance seeking backup information on potential violations in the field and reducing the information received into the form of affidavits with the intent of using those affidavits to lead to the filing of complaints resulting in live testimony at hearings. It is still impossible to determine the extent to which the Department will follow through on these matters, but it is our concern that all Stewart Title offices and agents follow only sound business like ethical conduct in the exercise of their business.

As in the past, The Department focuses on anti rebate, improper advertising practices, and sham ABA as well as anything that might be considered an unfair trade practice.

Accordingly we caution you to use only the best practices or be aware that consequences may follow in the form of charges, public hearings, and suspension or revocation of licenses.

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.

References

Bulletins Replaced:
None
Related Bulletins:
FL000100 Violative Actions, Florida Department of Insurance
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None