Florida OIR orders company with $2.2 million warranty premium to end unlicensed business

For insurance professionals operating in Florida including insurers, brokers, MGAs, underwriters, and compliance teams, the Florida OIR release describes an unlicensed or unauthorized insurance entity as any person or business engaging in the business of insurance without first obtaining necessary licensure or authorization from the Florida OIR, including selling, soliciting, negotiating, or advertising insurance products or insurance-related coverages – including service contracts and extended warranties – and notes that the Florida OIR actively investigates reports of unlicensed activity and is issuing a new consumer website highlighting unlicensed activity gathered by the Florida OIR.