What is the Seibel act?
What is the Seibel act?
The Seibel Act creates a new prohibited act and makes it a third degree felony to willfully submit to an insurer an insurance application or policy-related document on behalf of a consumer that contains a false or fraudulent signature.
What is the Florida Guaranty Fund?
Florida Insurance Guaranty Association FIGA is a nonprofit corporation created by the Florida Legislature in 1970. FIGA services pending claims by or against Florida policyholders of member insurance companies which become insolvent and are ordered liquidated.
Does Florida guarantee annuities?
If an annuity owner is a Florida resident and the insurance company licensed to sell annuities in Florida becomes insolvent, a fixed deferred annuity will be guaranteed by the Florida Life & Health Insurance Guaranty Association (FLHIGA) for up to an aggregate amount of $250,000.
