Florida Statutes 626.461 – Continuation of appointment of agent or other representative
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 626.461
- Adjuster: means a public adjuster as defined in…. See Florida Statutes 626.015
- agent: includes an insurance producer or producer, but does not include a customer representative, limited customer representative, or service representative. See Florida Statutes 626.015
- Appointment: means the authority given by an insurer or employer to a licensee to transact insurance or adjust claims on behalf of an insurer or employer. See Florida Statutes 626.015
- Customer representative: means an individual appointed by a general lines agent or agency to assist that agent or agency in transacting the business of insurance from the office of that agent or agency. See Florida Statutes 626.015
- License: means a document issued by the department or office authorizing a person to be appointed to transact insurance or adjust claims for the kind, line, or class of insurance identified in the document. See Florida Statutes 626.015
- Managing general agent: means any person managing all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office, and acting as an agent for that insurer, whether known as a managing general agent, manager, or other similar term, who, with or without authority, separately or together with affiliates, produces directly or indirectly, or underwrites an amount of gross direct written premium equal to or more than 5 percent of the policyholder surplus as reported in the last annual statement of the insurer in any single quarter or year and also does one or more of the following:1. See Florida Statutes 626.015
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Service representative: means an individual employed by an insurer or managing general agent for the purpose of assisting a general lines agent in negotiating and effecting insurance contracts when accompanied by a licensed general lines agent. See Florida Statutes 626.015
Subject to renewal or continuation by the appointing entity, the appointment of the agent, adjuster, service representative, customer representative, or managing general agent shall continue in effect until the person‘s license is revoked or otherwise terminated, unless written notice of earlier termination of the appointment is filed with the department or person designated by the department to administer the appointment process by either the appointing entity or the appointee.