We don't make the rules. It is not worth us paying 10,000 fine to explain it to you or losing our lic. If you want to know anything about it, you should click the link.
Posted: Sun Dec 28, 2008 09:53 pm Post Subject:
The way the Economy is, and the 'closing' of alot of Insurance Companies,
sdchargersfan, I'm not sure where you are getting your information.
So far I know of two (2) companies out the thousands in the USA, who,... EXCEPT for Gubment intervention,... are out of business:
There are NOT a lot of insurance companies closing.
Exactly two (2) have went down. Compare that to all the bankrupt banks and investment firms that no longer exist or were bailed out by the Gubment.
Regarding the state Insurance Guaranty Associations there isn't any problem knowing of their existence and "if a client asks" it's perfectly acceptable to provide them with the information that such a thing exists.
What's NOT acceptable is... PLEASE READ....BIG RED LETTERS
INSURER INSOLVENCY; GUARANTY OF PAYMENT
631.735 Prohibited advertisement of Florida Life and Health Insurance Guaranty Association Act in sale of insurance.--No person shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster, or over any radio station or television station, or in any other way, any advertisement, announcement, or statement which uses the existence of the Insurance Guaranty Association of this state for the purpose of sales, solicitation, or inducement to purchase any form of insurance covered by the Florida Life and Health Insurance Guaranty Association Act. However, this section shall not apply to the Florida Life and Health Insurance Guaranty Association or any other entity which does not sell or solicit insurance.
Posted: Sun Dec 28, 2008 09:55 pm Post Subject:
Advertising Prohibition
§ 33-38-21 “References to the association in advertisements for insurance” (a) No person, including an insurer or agent or affiliate of an insurer, shall make, publish, disseminate, circulate, or place before the public or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication; in the form of a notice, circular, pamphlet, letter, or poster; over any radio station or television station; or in any other way, any advertisement, announcement, or statement which uses the existence of the association for the purposes of sales, solicitation, or inducement to purchase any form of insurance covered by this chapter. This Code section shall not apply to the association or any other entity which does not sell or solicit insurance. (b) Any person who violates subsection (a) of this Code section may, after notice and hearing and upon order of the Commissioner, be subject to one or more of the following: (1) A monetary penalty of not more than $1,000.00 for each act or violation, but not to exceed an aggregate penalty of $10,000.00; or (2) Suspension or revocation of his license or certificate of authority.
Posted: Sun Dec 28, 2008 09:29 pm Post Subject:
We don't make the rules. It is not worth us paying 10,000 fine to explain it to you or losing our lic. If you want to know anything about it, you should click the link.
Posted: Sun Dec 28, 2008 09:53 pm Post Subject:
The way the Economy is, and the 'closing' of alot of Insurance Companies,
sdchargersfan, I'm not sure where you are getting your information.
So far I know of two (2) companies out the thousands in the USA, who,... EXCEPT for Gubment intervention,... are out of business:
#1) AIG
#2) Standard Life Insurance of Indiana
There are NOT a lot of insurance companies closing.
Exactly two (2) have went down. Compare that to all the bankrupt banks and investment firms that no longer exist or were bailed out by the Gubment.
Regarding the state Insurance Guaranty Associations there isn't any problem knowing of their existence and "if a client asks" it's perfectly acceptable to provide them with the information that such a thing exists.
What's NOT acceptable is... PLEASE READ....BIG RED LETTERS
INSURER INSOLVENCY; GUARANTY OF PAYMENT
631.735 Prohibited advertisement of Florida Life and Health Insurance Guaranty Association Act in sale of insurance.--No person shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster, or over any radio station or television station, or in any other way, any advertisement, announcement, or statement which uses the existence of the Insurance Guaranty Association of this state for the purpose of sales, solicitation, or inducement to purchase any form of insurance covered by the Florida Life and Health Insurance Guaranty Association Act. However, this section shall not apply to the Florida Life and Health Insurance Guaranty Association or any other entity which does not sell or solicit insurance.
Posted: Sun Dec 28, 2008 09:55 pm Post Subject:
Advertising Prohibition
§ 33-38-21 “References to the association in advertisements for insurance” (a) No person, including an insurer or agent or affiliate of an insurer, shall make, publish, disseminate, circulate, or place before the public or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication; in the form of a notice, circular, pamphlet, letter, or poster; over any radio station or television station; or in any other way, any advertisement, announcement, or statement which uses the existence of the association for the purposes of sales, solicitation, or inducement to purchase any form of insurance covered by this chapter. This Code section shall not apply to the association or any other entity which does not sell or solicit insurance. (b) Any person who violates subsection (a) of this Code section may, after notice and hearing and upon order of the Commissioner, be subject to one or more of the following: (1) A monetary penalty of not more than $1,000.00 for each act or violation, but not to exceed an aggregate penalty of $10,000.00; or (2) Suspension or revocation of his license or certificate of authority.
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