Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance

Fla. Bill Would Unite Banking, Insurance Departments

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 10, 12:45 p.m. – The Florida House of Representatives is considering a bill that could create a new Department of Insurance and Financial Services, replacing the current Department of Insurance and the Department of Banking and Finance with a single agency.

The bill, HB 577, was introduced recently by Rep. Mark G. Flanagan, R-Bradenton, and is being discussed by several state House committees, including those for banking and for insurance.

Commissioners of insurance and financial services would continue to exist, along with most of their current staff and services, but they would be placed under the authority of a single executive director, to be appointed by the governor.

Some duties of the existing departments would be shifted to other agencies under the bill. The authority of the DOI authority to investigate insurance fraud, for instance, would be transferred to the state Department of Law Enforcement.

If the bill were enacted, the provisions would be phased in. The bill would take full effect Jan. 7, 2003.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.