Florida Statutes Part VII - Insurance Administrators (Ss. 626.88-626.8991)

• 626.88 - Definitions.
  For the purposes of this part, the term:(1) “Administrator” is any person who directly or indirectly solicits or effects coverage of, collects charges or premiums from,...
• 626.8805 - Certificate Of Authority To Act As Administrator.
  (1) It is unlawful for any person to act as or hold himself or herself out to be an administrator in this state without a valid...
• 626.8809 - Fidelity Bond.
  An administrator shall have and keep in full force and effect a fidelity bond equal to at least 10 percent of the amount of the...
• 626.8814 - Disclosure Of Ownership Or Affiliation.
  Each administrator shall identify to the office any ownership interest or affiliation of any kind with any insurance company responsible for providing benefits directly or...
• 626.8817 - Responsibilities Of Insurance Company With Respect To Administration Of Coverage Insured.
  (1) If an insurer uses the services of an administrator, the insurer is responsible for determining the benefits, premium rates, underwriting criteria, and claims payment procedures...
• 626.882 - Agreement Between Administrator And Insurer; Required Provisions; Maintenance Of Records.
  (1) A person may not act as an administrator without a written agreement, as required under s. 626.8817, which specifies the rights, duties, and obligations of...
• 626.883 - Administrator As Intermediary; Collections Held In Fiduciary Capacity; Establishment Of Account; Disbursement; Payments On Behalf Of Insurer.
  (1) If an insurer utilizes the services of an administrator under the terms of a written agreement, the payment to the administrator of any premiums or...
• 626.884 - Maintenance Of Records By Administrator; Access; Confidentiality.
  (1) Every administrator shall maintain in such administrator’s principal administrative office for the duration of the written agreement and for 5 years thereafter adequate books and...
• 626.885 - Notice; Statement Of Charge Or Premium For Coverage.
  (1) When the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to insured individuals advising them of...
• 626.886 - Delivery Of Insurer’s Written Communications To Policyholders.
  Any policies, certificates, booklets, termination notices, or other written communications delivered by the insurer to the administrator for delivery to its policyholders shall be delivered...
• 626.887 - Advertising; Approval By Insurer.
  An administrator may use only such advertising pertaining to the business underwritten by an insurer as has been approved in writing by such insurer in...
• 626.888 - Adjustment Or Settlement Of Claims; Compensation Of Administrator.
  Compensation to an administrator for any policies in which the administrator adjusts or settles claims shall in no way be contingent on claims experience. This...
• 626.89 - Annual Financial Statement And Filing Fee; Notice Of Change Of Ownership.
  (1) Each authorized administrator shall annually file with the office a full and true statement of its financial condition, transactions, and affairs within 3 months after...
• 626.891 - Grounds For Suspension Or Revocation Of Certificate Of Authority.
  (1) The certificate of authority of an administrator shall be suspended or revoked if the office determines that the administrator:(a) Is in an unsound financial condition;(b) Has used...
• 626.892 - Order Of Suspension Or Revocation Of Certificate Of Authority; Notice.
  (1) The suspension or revocation of a certificate of authority of an administrator shall be effected by order of the office mailed to the administrator by...
• 626.893 - Period Of Suspension; Obligations During Suspension; Reinstatement.
  (1) A certificate of authority of an administrator shall be suspended for such period, not to exceed 1 year, as is fixed in the order of...
• 626.894 - Administrative Fine In Lieu Of Suspension Or Revocation.
  (1) If the office finds that one or more grounds exist for the suspension or revocation of a certificate of authority issued under this part, the...
• 626.895 - Definition Of “service Company” Or “service Agent.”
  For the purpose of this part, a “service company” is any business entity which has met all the requirements of ss. 626.895-626.899, which does not...
• 626.896 - Servicing Requirements For Self-insurers And Multiple-employer Welfare Arrangements.
  (1) Each individual self-insurer or multiple-employer welfare arrangement is required to provide proof of compliance with the provisions of this section regarding servicing requirements.(2) It is the...
• 626.897 - Application For Authorization To Act As Service Company; Bond.
  (1) An application by any business for approval to provide underwriting and claims adjusting services to self-insurers or multiple-employer welfare arrangements shall be made on appropriate...
• 626.898 - Requirements For Retaining Authorization As Service Company; Recertification.
  (1) No person may act as a service company without a written agreement between such person as service company and a self-insurer or multiple-employer welfare arrangement....
• 626.899 - Withdrawal Of Authorization As Service Company.
  The failure to comply with any provision of ss. 626.895-626.899 or with any rule or any order of the commission or office within the time...
• 626.8991 - Adoption Of Rules.
  The commission may adopt rules necessary to administer this part.History.—s. 5, ch. 2005-182.

Last modified: September 23, 2016