Florida Insurance Commissioner Mike Yaworsky has ordered two out-of-state companies to immediately cease operations in Florida after state examinations found they were selling insurance-related products without required licenses.
The Florida Office of Insurance Regulation (OIR) issued cease-and-desist orders against New Jersey-based iDeal Group Inc., doing business as iDeal Auto, and New York-based First Premier Home Warranty Corp. following separate market conduct examinations.
The investigations began after the Florida Department of Financial Services notified OIR of potential violations.
Regulators determined that iDeal sold a motor vehicle service agreement to a Florida consumer despite lacking authorization to conduct business, administer contracts or market products in the state.
First Premier Home Warranty was similarly found to have sold home warranties to Florida consumers without proper licensing. The company was also not appointed as a sales representative for an authorized insurer or home warranty association in Florida.
Both companies face potential administrative penalties if they fail to comply with the orders.
“Companies offering any kind of insurance related product must be fully authorized to conduct business in our state to ensure policyholders receive the protections and accountability they are entitled to under the law,” Yaworsky said.
