Fla. Admin. Code Ann. R. 69O-196.020 - Premium Financing of Products Not Regulated by the Florida Insurance Code and Related Unfair Trade Practices Prohibited
(1) The term "automobile club" as used in
this rule shall have the same meaning as in Section
627.8405(1),
F.S.
(2) The term "procuring" as
used in Section 624.124, F.S., does not include
premium financing.
(3) Financing
the cost of an automobile club membership within a premium finance agreement,
or collecting or remitting of dues, assessments, fees or other periodic
payments is prohibited by Section
627.8405, F.S., even if
insurance coverage is a benefit of the membership.
(4) Financing of any benefit, including any
insurance coverage, provided in a motor club membership, or collecting or
remitting of dues, assessments, fees or other periodic payments is
prohibited.
(5) Financing the cost
of an accidental death and dismemberment policy or collecting or remitting of
dues, assessments, fees or other periodic payments sold in combination with
personal injury protection and property damage only policies is
prohibited.
(6) Section
627.8405(3),
F.S., prohibits premium financing of any product not regulated under the
Florida Insurance Code including mixed products which contain a part that is
not regulated under the Florida Insurance Code.
Notes
Rulemaking Authority 624.308(1), 627.8405(3) FS. Law Implemented 627.832, 627.8405 FS.
New 12-27-94, Amended 8-29-99, Formerly 4-196.020, Amended 5-24-21.
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