The Florida Department of Financial Services has received an increasing number of inquiries from Florida agents and agencies asking if it's allowable to charge fees for policies or services, such as issuing certificates of coverage, to obtain additional compensation. Charging fees is unlawful under the Florida Insurance Code. Subsection 626.9541(1)(o), F.S., states that it is unlawful for any licensee to collect any sum connected with the purchase of insurance that is not forwarded to the appropriate insurer, or part of the insurer's rates as filed with the Florida Office of Insurance Regulation, or otherwise designated as lawful within the Florida Insurance Code. This law applies to all licensees, including agencies and surplus lines agents.
The Department will vigorously investigate all allegations of unlawful fees and take the appropriate enforcement action for the overcharging of Florida consumers in insurance transactions.[See
626.9541(1)(o), Florida Statutes]
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Bob Lancaster Insurance
Serving Florida since 1964
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