CS for CS for SB 1222 - Summary

• Removes restriction preventing general lines agents from transacting health insurance independently; health insurance may now be transacted without requirement for agent to also represent property, casualty, or surety insurance.

• Modifies agent licensing and examination requirements by eliminating customer representative license examination requirement and establishing new education/degree exemptions for general lines, personal lines, life, and health agents.

• Changes prelicensure education requirements from specific classroom hour minimums to 200-hour coursework requirement for general lines agents and 60-hour requirement for personal lines agents, with flexibility in delivery method.

• Eliminates quarterly affidavit filing requirement for surplus lines agents; maintains insurer reporting requirements to Florida Surplus Lines Service Office.

• Requires insurance agents to maintain records for at least 5 years after policy expiration and provide written information to customers when recommending surrender of annuity contracts or life insurance policies, including estimated surrender charges and tax consequences.