Florida Division of Agent and Agency Services to Consider Standards for the Use and Representation of Licensee Certifications in the Marketing of Insurance Products at July 26, 2011 Rule Hearing
Jun 21, 2011
The Florida Department of Financial Services’ Division of Agent and Agency Services has scheduled a July 26, 2011 Rule Hearing for proposed Rule 69B-215.235, which would set standards for the use and representation to consumers of professional designations or certifications by licensees engaged in the marketing and sale of insurance products
Proposed Rule 69B-215.235, which is designed to protect consumers from deceptive trade practices, would prohibit use of “non-existent or self-conferred” designations and clarify that “lawful designations” are those obtained from organizations that maintain published standards and procedures that assure the ongoing competency and ethical conduct of members or conferees.
If requested, the July 26 Hearing will be held at 11:00 a.m. in Room 116 of the J. Edwin Larson Building, 200 East Gaines Street, Tallahassee, Florida.
The proposed Rule text is reprinted below. To view the Notice of Proposed Rulemaking, click here.
Should you have any questions or comments, please contact Colodny Fass.
69B-215.235 Use of Designations
(1) The purpose of this rule is to set forth standards to protect consumers from dishonest, deceptive, misleading, and fraudulent trade practices with respect to the use of certifications and professional designations in the marketing, solicitation, negotiation, sale or advice made in connection with an insurance transaction by any licensee.
(2) The department does NOT endorse any professional designation.
(3) For purposes of this rule:
(a) A designation is any combination of words (or an acronym standing for a combination of words) that indicates or implies that a licensee has special knowledge or training in advising or servicing consumers beyond the knowledge or training required for the license held.
(b) A certification is any designation that indicates, implies or recognizes that an individual or organization meets certain established criteria beyond the criteria required for the license held.
(4) A designation may not be lawfully used under the Insurance Code unless the designation is obtained from an organization that has published standards and procedures for assuring the competency of its certificants or designees on specific subject matters at the time of the designation’s conferment, which standards and procedures are continually utilized by the organization and updated as appropriate.
(5) The organization or entity conferring the designation must specify the exact terminology, combination of words and/or acronym to be used by the designee.
(6) The prohibited use of any designation includes, but is not limited to, the following:
(a) Use of a designation by a person who has not actually earned or is otherwise ineligible to use such designation;
(b) Use of a nonexistent or self-conferred designation;
(c) Use of a designation that indicates or implies a level of occupational qualifications obtained through education, training, or experience that the person using the designation does not have, or
(d) Use of any designation not obtained in compliance with subsection (4), above.
Rulemaking Authority 626.9611(1) FS. Law Implemented 626.9541(1)(ff) FS. History-New.
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