By: Jason L. Perez
Department Authorized Insurance Education Provider
⭐️⭐️⭐️⭐️⭐️ | The Insurance School .com
Florida Insurance Pre-Licensing Course
Episode One (A)
Karen Got Caught Coming in HOT!
“Karen got CAUGHT coming in HOT!”
FLORIDA Department of Financial Services
(VS) Karen S. Baker
In this Episode of iMost Wanted by The Insurance School .com, we come across another KAREN. Once again, she’s been caught being a menace on Florida streets. Our PROOF… one FELONY count for Driving Under the Influence. A felony conviction means, KAREN can no longer hold a POSITION OF PUBLIC TRUST.
Typically, when I think of insurance violations, my brain gravitates toward the BIG obvious crimes like FRAUD or stealing premiums. FYI… you’d only need to misappropriate $300 to be deemed a FELON so, NEVER comingle client funds in your personal bank account.
People who’ve committed blatant financial crimes (OR) have displayed an INDIFFERENCE for the wellbeing of others, shouldn’t ever be considered a Trustworthy FIDUCIARY.
`Karen placed the locals in her vicinity in harm’s way. If a person is indifferent to the wellbeing of others… YOU and I are the “others”. A felony arrest validates Karen DOES NOT care about her neighbor’s best interest so, Florida’s DFS is going to revoke Karen’s professional licenses. As licensees, we’re OBLIGATED to ALWAYS conduct ourselves like a TRUSTWORTHY Professional.
Jay-Z summed up WHY Karen’s license was revoked when he said…“I’m NOT a businessman. I’m a BUSINESS… Man.” Karen is/was the business. Licensees are businesses… Independent Brokers can offer everything agencies can.
Agents employed by insurers don’t have an advantage over us Brokers. Insurers can’t hold the “Good Policies” back for their employees to sell. #When a POLICY is Authorized for sale by the OIR | Office of Insurance Regulations… DFS Authorized independent Brokers (AND) traditional local storefront style agencies offer the same policies.
DFS Authorized Insurance Brokers / Agents are fiduciaries, like the Financial Advisers we see on tv. The public must be able to rely on the insight we provide. Aside from being a licensee, I’m an insurance consumer like you. The policies “WE” purchase are financial tools designed to help us avert financial ruin.
- Insurance policies help mitigate the catastrophic COST of caring for illnesses, injuries, and death of a “Wage Earner’.
DFS Authorized Insurance Brokers / Agents are fiduciaries, like the Financial Advisers we see on tv. The public must be able to rely on the insight we provide. Aside from being a licensee, I’m an insurance consumer like you. The policies “WE” purchase are financial tools designed to help us avert financial ruin.
- Insurance policies help mitigate the catastrophic COST of caring for illnesses, injuries, and death of a “Wage Earner’.
Figuratively speaking, Karen’s questionable judgement is like an out-of-control snowball rolling downhill in a cartoon… as it picks up momentum it gets bigger. Eventually, this HUGE Snow-bolder is going to run into an immovable object. The snow-boulder is an insurance violation. Our immovable object is Florida’s Department of Financial Services.
Would you willingly trust a “Convicted Felon” to handle your monthly insurance premiums? NOPE. Do people make mistakes? YES, of course they do.
ON FLIP SIDE – Chief Financial Officer Jimmy Patronis wasn’t ELECTED to give Karen’s with questionable judgement, the benefit of doubt. One reckless DUI decision could lead to other poor decisions. Perhaps a slight omission which overlooks seemingly small disadvantages. Licensees often accept premiums so; they can EASILY Misappropriate client funds.
Responsible FIDUCIARIES would NEVER comingle client funds with their own. We’d either submit premiums directly to the insurer or, maintain a SEPARATE account for these types of transactions… Florida doesn’t believe FELONS will maintain proper accounting procedures.
– Say goodbye to your license Karen
IMAGINE… It’s YOUR personally identifying information going onto the insurance application. Medical information, bank accounts… it’s all on there. With all your information contained on the application I ask – Would you prefer to communicate with a licensee who has NO Legal issues (OR) Karen.
DUI convictions reflect a poor choice in judgement – an indifference to the wellbeing of others. I’m not insinuating Karen was convicted of fraud or misappropriating funds however, No such thing as a LITTLE FELONY!
Once arrested & CONVICTED…
It’s IMPOSSIBLE to be deemed TRUSTWORTHY.
I’m NOT confident Karen will be coherent when she’s need, are you? Are you confident she’ll properly allocate the premium payments you give her and not comingle your money with hers. Her judgement / REPUTATION has been officially brought into question. NOW, it seems Everything she’s involved with has an element of “What-if” associated with it.
How do you feel about Karen’s MoralE problem?
Are you confident Karen’s next questionable move won’t be with YOUR information or money? The business of insurance DOES NOT operate like a typical court of law. Licensees ARE NOT Innocent until proven guilty. Florida thinks it’s safer for consumers to communicate with Brokers / Agents who have no red flags.
To lose an Insurance license, a person only needs to be deemed UNTRUSTWORTHY by Florida’s Department of Financial Services. When an insurance licensee is revoked (OR) suspended, people have a right to dispute the CFO/DFS decision and request a hearing. Karen didn’t appeal her revocation because she was Guilty AF!
® Morale Hazards = Indifference to loss
NO fear of injury (OR) death.
® PHYSICAL Hazards = OBVIOUS Physical conditions like the loss of a limb, or sight are examples of PHYSICAL Hazards. PRESUMPTIVE Disabilities are the most severe type of physical disability. Blindness, Deafness, Loss of Speech & Loss of at least Two limbs are TOTAL Disabilities.
If someone would have been injured or killed in a car accident involving Karen while she was intoxicated… KAREN would have been the Peril. We open Pre-Licensing here because, these keywords and concepts are CORE to the course.
IILLNESS, INJURIES & DEATH are PERILS.
MORALE Hazards like driving under the influence are violations. Our discussions on crimes, fines, and felonies are never going to be more complicated than Karen’s case. CFO Press Releases help us turn legal terms and concepts into easy to absorb layman’s language we can remember.
EVERY Press Release either identifies a regulatory authority or unfair trade practice we’ll be tested on. We start and end Pre-Licensing with Florida Insurance Laws. Throughout this course, we’re consistently revisiting My Florida CFO .com to find our answers the same way consumer do. Before we dive in, let’s check out another CFO Press Release to see HOW his Department of Financial Services protects Floridians form insurance crimes.
Insurance Careers Start Here
Neil Schwabe, M.G.A. LUTCF
Sarah Insure, Independent Broker
Join Our Next Class Signup Below!
