Authorized Licensing Class Sample
Hospital & Doctor Fixed Indemnity Insurance
Hospital = Room & Board
- Doctor = Primary Care Physician
- Surgical = Surgeons Expenses
FIXED = A Stated Amount
Indemnity = Entire Amount
Can a Fixed Indemnity insurance strategy with limitations and exclusions responsibly replace a comprehensive ACA Major Medical plan?
[Define] Comprehensive...
10 Essential Coverages
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Primary Care & RX Drugs
Hospital & Surgical
Virtual Doctor Visits
Wellness | Office Visits | RX Drugs
Physician (Nonsurgical) Expenses
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
These Press Releases summarize the incident and typically, identify which state entities are involved. Real life insurance news is the best way to learn about the entities who protect minimum industry standards.
NAIFA [17.2.3] pg.297
Room & Board
Fixed Hospital Indemnity
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
These Press Releases summarize the incident and typically, identify which state entities are involved. Real life insurance news is the best way to learn about the entities who protect minimum industry standards.
Local Doctors On Demand
WHOOP, WHOOP
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
DAY-TO-DAY MEDICAL SERVICES
WHOOP, WHOOP
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
CRITICAL MEDICAL SERVICES (Per Person)
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
SURGICAL
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
OUTPATIENT / LAB
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
SURGICAL BENEFIT DETAILS
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
VIOLATION | CFO Press Release
WHOOP, WHOOP… That’s the Sound of the Police!
Karen was caught coming in HOT!
Typically, when I think of punishable insurance violations, my brain immediately gravitates toward the average insurance violation. Crimes like the misappropriation of funds, fraud, and identity theft pop into my mind first. But those are just the blatantly obvious offences you can lose your license for.
- If you’re arrested for a crime, you have 30 Days to inform the DFS.
- Felony Convictions are grounds for the immediate revocation of a license.
I decided to highlight this violation because, we don’t think about losing our license for a non-insurance related incidents like DRUNK DRIVING.
Department of Financial Services
(VS) Karen S. Baker
FELONY DUI | NOTICE OF REVOCATION
CASE NO.: 285978 -21 -AG
Sarasota County, Florida’s Twelfth Judicial Circuit Court
Case No. 2020CF007422NC
On August 2, 2021, KAREN was adjudicated guilty after pleading “nolo contender” to a FELONY count of Driving Under the Influence. The “felony” component insinuates this is at least KAREN’S FORTH DUI!
Karen’s tendency to drive under the influence insinuates, she’s personally indifferent to the potential losses associated with her decisions. If she was getting drunk and NOT Driving, her actions would be a Moral Hazard because, she’s only hurting herself.
– Perils & Hazards [K. (1.4.2) p. 9]
KAREN is a Morale Hazard!
Think of adding the “E” to Moral like you were taking a multiple-choice test and option “E” was all of the above.
POP QUIZ
- When KAREN drives drunk, she is a danger to…
- Herself
- Other Drivers
- Pedestrians
- Property
- ALLOF THE ABOVE!
Moral + E | Everyone
Now just to be clear, I’m not a prude by any means. I just want to discuss why we should question Karen’s professional competence.
Is Karen the trustworthy professional you envision helping you when you need it the most? It’s possible she’s a very knowledgeable person however, her actions indicate she’s unreliable and has no issue intentionally breaking the law when convenient.
- When a licensee is convicted of a felony, their license & appointments are immediately revoked by the Department.
- The licensee may request a hearing pertaining the revocation. The point of the hearing is to determine if the revocation should be rescinded because the licensee wasn’t actually convicted of a felony.
– [626.631(1)]
OBVIOUSLY… Karen isn’t going to be requesting a hearing because she’s Guilty AF! Her felony conviction constitutes grounds for the immediate revocation of her licenses and appointments. The moral(e) of my story…
Don’t be a KAREN.
| Karen has 30-Days to notify the DFS of her arrest.
Now, back to these Florida insurance laws.
To make sense of these guidelines, we’re going to dive into the CFO’s resources. Under the heading “News You Can Use”, you’ll find a list of recent press releases. We’re going to focus on the violations.
These Press Releases summarize the incident and typically, identify which state entities are involved. Real life insurance news is the best way to learn about the entities who protect minimum industry standards.
* Marketplace = Somewhere goods and services are sold and purchased.
- – Insurance can be sold online, over the phone and in person so when I refer to the “marketplace”, I’m referencing anywhere a policy can be purchased.
- * We tend to think of laws as the rules we’re forced to comply with however, do you realize these guidelines are in fact only MINIMUM STANDARDS!
The Department of Financial Services (DFS or Department), under the direction of the Chief Financial Officer directly manages Agents, Agencies and the intimate moments which occur between consumers and the licensed professionals who represent the insurers in our marketplace.
The reason I used the word “intimate” is because, I want to bring attention to the difference between the CFO’s Department of Financial Services (DFS) & the Office of Insurance Regulation (OIR) right out the gates.
The Florida DFS Headed by CFO Patronis regulates the daily interactions between licensees and consumers. The OIR is not interested in us. They focus exclusively on making sure INSURERS and the other types of entities who we TRANSFER our RISK too can keep their contractual promises.
- Do you remember the four(4) main ways of managing Risk?
- Risk Avoidance
- Risk Reduction
- Risk Retention = SelfInsurance
- RiskTransference = Insurance
Continuing Education comes in two distinct categories, REQUIRED & Elective. The 1st version we will discuss is this Four (4) Hour Law & Professional Ethics course. It is the only post licensing course we are REQUIRED to take every CE Compliance Period.
If we were to dissect this course and discuss “WHY” regulators complied these topics, it’s obvious they’re not trying to teach us communication skills.
The unedited version of WHY we’re required to do CE every two years… It’s so, licensees can’t use ignorance as an excuse for improper conduct.
Continuing Education Electives
The second (2nd) category of Continued Education is called an *Elective. These courses still focus on insurance however, the topics can address almost any aspect of the business of insurance. Personal motivation is NOT a CE worthy discussion.
Marketplace trends and professional insight topics are typically, the type of courses you’ll encounter. As long as the CE Course you’re taking is Authorized by the DFS, it will count toward your compliance requirements.
| Keeping your Insurance License in good standing is simple.
If you’ve been licensed for LESS than 6 years, you’re required to complete 24–Hours of CE. At Least 5 Hrs. of CE must be focused on Insurance Law & Professional Ethics. The remaining 19 CE Hours are open. You can choose ANY DFS AUTHORIZED course you’re interested in.
1st Three Compliance Periods
24-Hours of CE
Licensed MORE than 6–years | 20 Hours of CE.
4-Hrs. Law & Ethics + 16 Electives hrs. = In Compliance.
1st Three Compliance Periods
24-Hours of CE
- MOTIVATION– Those Tony Robins type coaching platforms designed to motivate you ARE NOT eligible for CE Authorization from the DFS. Instead, I’m going to beat you with words about laws for the 4-hours…
(Screams of terror in the distance)
- If you fail to comply with Continuing Education and miss two compliance periods (48-Months) the DFS will terminate your License
- If you fail to have an active appointment for 48-months, the DFS will terminate your license even if you’ve completed your Continuing Education requirements.
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Florida Department of Financial Services
By: Jason L. Perez
Department Authorized Insurance Education Provider
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