Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-196 - PREMIUM FINANCE COMPANIES
Section 69O-196.020 - Premium Financing of Products Not Regulated by the Florida Insurance Code and Related Unfair Trade Practices Prohibited
Current through Reg. 50, No. 187; September 24, 2024
(1) The term "automobile club" as used in this rule shall have the same meaning as in Section 627.8405(1), F.S.
(2) The term "procuring" as used in Section 624.124, F.S., 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 Section 627.8405, F.S., 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) Section 627.8405(3), F.S., 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 624.308(1), 627.8405(3) FS. Law Implemented 627.832, 627.8405 FS.
New 12-27-94, Amended 8-29-99, Formerly 4-196.020, Amended 5-24-21.
