Florida Insurance Commissioner Orders American Assurance Underwriters Group and Its Affiliates to Cease and Desist Selling Health Insurance Products
- Florida Insurance Commissioner Kevin McCarty today announced that the Office of Insurance Regulation (Office) has issued an Order
to American Assurance Underwriters Group and its affiliates Worldwide Expatriate Administrators LLC and Worldwide Expatriate Advisors LLC to cease and desist transacting the unauthorized marketing and selling of health insurance products in Florida.
The Office began an investigation of American Assurance Underwriters Group and its affiliates Worldwide Expatriate Administrators LLC and Worldwide Expatriate Advisors LLC marketing and business operations earlier this year. As a result of the investigation the Office determined that American Assurance Underwriters Group and its affiliates had marketed, sold, and continued to market and sell health insurance products in Florida underwritten by AAUG Insurance Company Ltd. without a license. AAUG Insurance Company Ltd. is a captive insurance company licensed by the British Virgin Islands and does not hold a certificate of authority from the Office in any capacity.
"We began investigating this company and its affiliates based on consumer inquires," said Commissioner McCarty. "The Office will not tolerate unlicensed companies unlawfully selling insurance products to consumers in Florida."
The companies have 21 days to challenge the Office’s action.
Under Florida law a person or entity may not transact, administer, or market insurance products either in the State of Florida or from the State of Florida unless it is authorized to do so under a license issued by the Office.
Consumers may determine if an insurer is licensed in Florida by visiting the Company Search tool on www.floir.com