DFS Advises as to Compliance Issues with SIU and Anti-Fraud Plans

Our firm has been advised by the Florida Department of Financial Services (“Department”) that a number of insurers are not in compliance with Rules 69D-2.001-005 with regard to their obligation to file Special Investigative Unit (“SIU”) description filings or anti-fraud plans with the Department.  These Rules went into effect on September 15, 2006.  They require the filing of a new SIU description filing or anti-fraud plan with the Department, depending upon the volume of business transacted by the insurer.
 
On September 14, 2006, our firm circulated an Informational Memorandum issued by the Department, regarding these Rules.  We have attached a copy of said Memorandum to this e-mail for your convenience.  Also attached please find a copy of the applicable Rules.  All carriers should review this information to ensure that they are in compliance.

 
Should you have any questions regarding this information, please feel free to contact this office.