Florida Regulations 69O-196.020: Premium Financing of Products Not Regulated by the Florida Insurance Code and Related Unfair Trade Practices Prohibited
Current as of: 2024 | Check for updates
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(1) The term “”automobile club”” as used in this rule shall have the same meaning as in Florida Statutes § 627.8405(1)
(2) The term “”procuring”” as used in Florida Statutes § 624.124, does not include premium financing.
(3) Financing the cost of an automobile club membership within a premium finance agreement, or collecting or remitting of dues, assessments, fees or other periodic payments is prohibited by Florida Statutes § 627.8405, even if insurance coverage is a benefit of the membership.
(4) Financing of any benefit, including any insurance coverage, provided in a motor club membership, or collecting or remitting of dues, assessments, fees or other periodic payments is prohibited.
(5) Financing the cost of an accidental death and dismemberment policy or collecting or remitting of dues, assessments, fees or other periodic payments sold in combination with personal injury protection and property damage only policies is prohibited.
(6) Florida Statutes § 627.8405(3), prohibits premium financing of any product not regulated under the Florida Insurance Code including mixed products which contain a part that is not regulated under the Florida Insurance Code.
Rulemaking Authority Florida Statutes § 624.308(1), 627.8405(3) FS. Law Implemented 627.832, 627.8405 FS. History-New 12-27-94, Amended 8-29-99, Formerly 4-196.020, Amended 5-24-21.
(3) Financing the cost of an automobile club membership within a premium finance agreement, or collecting or remitting of dues, assessments, fees or other periodic payments is prohibited by Florida Statutes § 627.8405, even if insurance coverage is a benefit of the membership.
(4) Financing of any benefit, including any insurance coverage, provided in a motor club membership, or collecting or remitting of dues, assessments, fees or other periodic payments is prohibited.
(5) Financing the cost of an accidental death and dismemberment policy or collecting or remitting of dues, assessments, fees or other periodic payments sold in combination with personal injury protection and property damage only policies is prohibited.
(6) Florida Statutes § 627.8405(3), prohibits premium financing of any product not regulated under the Florida Insurance Code including mixed products which contain a part that is not regulated under the Florida Insurance Code.
Rulemaking Authority Florida Statutes § 624.308(1), 627.8405(3) FS. Law Implemented 627.832, 627.8405 FS. History-New 12-27-94, Amended 8-29-99, Formerly 4-196.020, Amended 5-24-21.