Life & Health · Chapter 20 · Financial Services Regulation
Department of Financial Services (DFS)
Definition
Headed by the CFO and organized into thirteen (13) divisions, the DFS enforces the Florida Insurance Code and issues insurance licenses to individuals (agents, adjusters, agencies). Key divisions: Insurance Agent & Agency Services (licensing/education info for agents), Consumer Services (educates and assists consumers, receives and works complaints), Investigative & Forensic Services (the law-enforcement arm — insurance/workers' comp fraud, arson; its investigators can make arrests and execute warrants), Rehabilitation & Liquidation (administers receiverships), and Unclaimed Property. The DFS and OIR may investigate any suspected violation of the code.
In plain English
The CFO's department: it licenses people, teaches consumers, chases fraud, and takes over failed insurers.
Exam tip
Split the licensing world: DFS licenses PEOPLE (agents, adjusters, agencies); the OIR licenses COMPANIES (certificates of authority).
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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