Agents have until Oct. 1 to register in Florida’s Agency Licensing System

Florida insurance agents have until Oct. 1 to complete their registration in the Department of Financial Services new Agency Licensing System.

Hazel Muhammad, director of the Bureau of Licensing, was one of the featured speakers at the May 12 Professional Insurance Agents of Florida’s Member Summit in Orlando, Fla. She described the provisions of the new program and told agents that if they fail to register by Oct. 1, they could face a fine of up to $10,000 for failing to meet state licensing requirements.

According to Muhammad, agents must display their proof of licensure or registration in their offices to their customers, and the state requires a licensed agent to manage each licensed office.

Muhammad walked the audience through the online procedure to file a license, indicating it had gone through initial live tests with Florida agents, and it had been a seamless procedure that only took a few minutes.

Muhammad explained provisions of the Insurance Agency Licensing Law, enacted by the Florida Legislature in 2005, which requires all insurance agencies conducting business in Florida to either apply for licensure or for registration.

She explained that she is now visiting various insurance organizations in Florida to point out that it is now mandatory for agencies, whether owned in part or in whole by a licensed agent, to complete a formal licensing process.

Muhammad said that any agency formed before Jan. 1, 2003, and owned by a licensed agent, need only register the agency with DFS.

All other agencies must apply for a license

She outlined the basic requirements for licensure and said that the new licensuring procedure requires a background check, including fingerprinting and an FBI check..

A basic requirement, according to Muhammad, is that each and every location must have a licensed and appointed agent in full-time charge of that agency.

She said that one agent can not be in charge of multiple agencies. The application requires the identification of the agent in charge at each location. She concluded her presentation indicating that registering for a license is a simple procedure that only takes about 20 minutes.

Topics Florida Agencies