Florida Auto Insurance: Department of Insurance - Looking Out for You

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When shopping for insurance in Florida, residents can rest easy knowing that the Florida Department of Financial Services (DFS) is looking out for their best interests. Responsible for the regulation of Florida's insurance industry, the DFS is akin to a department of insurance and oversees all types of insurance policies including:

• Auto
• Health
• Home
• Life
• Long-term care
• Worker's compensation

The principal responsibility of the DFS is to protect Florida consumers. The DFS does this by:

• Licensing insurers and insurance companies to do business in Florida
• Regulating insurance contracts and rates
• Protecting against insurance fraud
• Ensuring that insurance companies comply with Florida law
• Ensuring that insurance companies abide by their own policy language
• Processing Florida insurance consumer complaints
• Monitoring and reporting annual insurance complaint rates
• Providing Florida residents with comprehensive insurance guides

Licensing Insurers
The DFS manages the licensing process for all insurance companies, agents, adjusters, and groups in the state. Licensing procedures ensure not only that insurance companies are financially secure but also that individual agents are well-versed in Florida state insurance laws through pre-licensure and continuing education coursework. The DFS also reviews all insurance products to verify that they comply with the Florida Insurance Code's rules regarding insurance contracts and rates.

Through CDI, consumers can verify:

• Whether an insurance company is licensed in Florida
• Whether an insurance company is licensed to sell a specific line of insurance
• Whether an agent is licensed in Florida and a legitimate representative of the insurance company Whether an insurance company has a good record of handling policy complaints

Protecting Consumers
Beyond licensing, the DFS works on a number of fronts to protect Florida insurance consumer interests. The agency actively seeks to help consumers resolve their insurance-related disputes by reviewing and investigating consumer complaints. The DFS also seeks to limit disputes by providing a searchable database of frequently asked questions to help consumers better determine their insurance needs. This database can be found on the DFS website.

In addition to managing consumer complaints, the DFS polices all other insurance activities in Florida. The DFS Chief Financial Officer works diligently with his division commissioners to protect consumers by prosecuting insurance fraud scams, revoking the insurance licenses of those who violate the Florida Insurance Code, and issuing cease & desist orders to stop sales of unlicensed insurance products. The DFS also publishes regulations to ensure the proper implementation of the Florida Insurance Code.

For more information regarding Florida insurance laws as well as complete information about the Florida Department of Financial Services, Florida's department of insurance, please visit the at DFS website.

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