Florida Department

of

Financial Services

Agency Licensing & Registration

What’s Changed?



A law was passed in 2005 that requires all insurance agencies to apply for a license or registration by October 1

st

, 2006.

Important Facts

Fines up to $10,000.00 may be imposed for late applications.

It’s FREE Fingerprints are not required if you are: 1.

Licensed and appointed 2.

Officer of a corporation whose voting shares are traded on a securities exchange 3.

In our database already with fingerprints that were processed within the last 3 years

What is an agency?



Florida Statutes 626.015 (8) defines an “INSURANCE AGENCY” as a business location which an individual, firm, partnership, corporation, association, or other entity engages in any activity or employs individuals to engage in any activity which by law may be performed only by a licensed insurance agent.

.

This means that an agent that is independently operating out of his/her home must obtain an agency license for that location.

Every agency

location

must be licensed or registered with the Department. You may not obtain one license in order to cover multiple agencies.

Agency Registration/ Licensing Application Process

Registration or Licensure?

Yes Has the agency been engaged in transacting insurance in Florida before January 1 st , 2003 Is the agency wholly owned by licensed and appointed insurance agent(s)?

or Is the agency incorporated and are its voting shares traded on a securities exchange?

or Is the agency’s primary function transacting insurance to members of a non-profit organization?

Yes No No LICENSE Registration Resident Agency Registration (20-05) Non-Resident Agency Registration (90-05) Place of business must be in Florida Must have an Agent-In Charge (AIC) location that isn’t an AIC for another agency FINGERPRINTS ARE NOT REQUIRED Place of business must be outside Florida Must have an Agent-In Charge (AIC) that isn’t an AIC for another agency location FINGERPRINTS ARE NOT REQUIRED Resident Agency License (21-05) Place of business must be in Florida Must have an Agent-In Charge (AIC) that isn’t an AIC for another agency location Fingerprints required unless owner(s) is licensed and appointed, or the corporation is publicly traded on a stock exchange Non-Resident Agency License (91-05) Place of business must be outside Florida Must have an Agent-In Charge (AIC) location that isn’t an AIC for another agency Fingerprints required unless owner(s) is licensed and appointed, or the corporation is publicly traded on a stock exchange INDIVIDUALS MUST still be licensed & appointed as agents if they are transacting insurance in Florida.

Agencies that qualify for registration may prefer to obtain a license instead of the registration.

Registrations may not be honored for an agency license in another state, and will not be supported by the National Insurance Database.

Agency registrations & agency licenses are free of charge.

Agent In-Charge (AIC)

Pursuant to section 626.747, Florida statues, an agency shall be in the active full-time charge of a

licensed

agent who is

appointed

to represent one or more insurers.

NOTE: The AIC’s license residency TYPE (RESIDENT or NON-RESIDENT) must match that of the AGENCY. A non-resident AIC CAN NOT be the AIC of a resident agency Each agency must have a unique AIC. If multiple agencies exist at one location, each agency at that location MUST have a unique AIC.

4 40’s (customer service representative) DO NOT QUALIFY as AIC. (e.g. You can not staff your locations with 4-40s without a 2-20 at each location to supervise the 4-40s at that location.)

Required Information

You must have the following information ready to complete the application

:

 FEIN (or SSN if Sole-Proprietor) for the location  Agent In Charge license number  Name, SSN, DOB and other demographic information for the owner(s), President and Secretary

Stage 1



Go to www.fldfs.com



Then click on “licensing and renewals”

Stage 2

Now click on “apply for a license.” SELECT THIS

Stage 3

 Select the “Insurance Agency” tab.

 Fill in applicable information.

 “Agency License/ Registration Number is only required when making changes to a specific location’s license/ registration.

Stage 4

 The system automatically displays the available choices for you.

 In this case we will apply for a registration

Stage 5

In this example we are going to qualify by being “wholly owned.” SELECT THIS

Stage 6

 Enter the Agency Name and formation date.

Enter info here  REMEMBER: to qualify for registration the formation date must have been before 1/1/2003.

Stage 7

Stage 8

The system allows you to enter a different mailing address from your principle business address. If it is the same, check the “same as business” check box.

SELECT THIS

Stage 9

 Yes, both fields are mandatory

Stage 10

 Check all that apply and then click continue.

Stage 11

 The system will validate the SSN/ FEIN for this application with that of the appointing entity number you enter. If they do not match, then an error message will display.  Your are not required to make your agency an appointing entity.

Stage 12

Background Inquiry In your application, the next several screens will ask a series of questions relating to the legal history of the owners, directors and officers of the agency applying for registration or licensure.

Answering yes to any of the questions does not necessarily prohibit registration or licensure. Further information may need to be submitted to the Department subsequently.

Stage 13

Owner/ Officer Entry  Enter all individuals that are applicable.



Do not hit submit until all individuals are entered. President & Secretary are required in all corporation applications

.

 After entering the first individual, click on “add owner/ officer.” When finished, click on the submit button.

CLICK HERE!

Stage 14

 Confirm that the information displayed is correct.

Stage 15

The system now displays the questions we’ve asked and the answers you provided. Please confirm that everything is correct.

Print the application for your records.

You’re not finished yet…

Stage 16

You must check the box and enter the required names.

CLICK HERE!

Stage 17

Please confirm that the information displayed is correct.

Print the application for your records.

YOU DID IT!!!

If your application isn’t deficient, then a registration/ license certificate will be mailed to the mailing address you provided.

If your application is deficient, then you will receive a deficiency letter in the mail.