(1) A certificate of authority of an administrator shall be suspended for such period, not to exceed 1 year, as is fixed in the order of suspension, unless such suspension or the order upon which the suspension is based is modified, rescinded, or reversed.
(2) During the period of suspension, the administrator shall file its annual statement and pay fees as required under this part as if the certificate had continued in full force.
(3) Upon expiration of the suspension period, if within such period the certificate has not otherwise terminated, the certificate shall automatically be reinstated, unless the causes of the suspension have not been removed or the administrator is otherwise not in compliance with the requirements of this part.
History.—s. 4, ch. 83-203; s. 3, ch. 84-94; ss. 206, 207, ch. 90-363; s. 4, ch. 91-429.
Structure Florida Statutes
Chapter 626 - Insurance Field Representatives and Operations
Part VII - Insurance Administrators (Ss. 626.88-626.8991)
626.8805 - Certificate of authority to act as administrator.
626.8814 - Disclosure of ownership or affiliation.
626.8817 - Responsibilities of insurance company with respect to administration of coverage insured.
626.882 - Agreement between administrator and insurer; required provisions; maintenance of records.
626.884 - Maintenance of records by administrator; access; confidentiality.
626.885 - Notice; statement of charge or premium for coverage.
626.886 - Delivery of insurer’s written communications to policyholders.
626.887 - Advertising; approval by insurer.
626.888 - Adjustment or settlement of claims; compensation of administrator.
626.89 - Annual financial statement and filing fee; notice of change of ownership.
626.891 - Grounds for suspension or revocation of certificate of authority.
626.892 - Order of suspension or revocation of certificate of authority; notice.
626.893 - Period of suspension; obligations during suspension; reinstatement.
626.894 - Administrative fine in lieu of suspension or revocation.
626.895 - Definition of “service company” or “service agent.”
626.896 - Servicing requirements for self-insurers and multiple-employer welfare arrangements.
626.897 - Application for authorization to act as service company; bond.
626.898 - Requirements for retaining authorization as service company; recertification.