What is the maximum percentage of controlled business an agent may produce in Florida?

In Florida, the laws governing insurance agents specify a limit on how much controlled business an agent can produce. Controlled business refers to insurance policies that are sold to the agent's own family members, employees, or business associates. The correct answer indicates that an agent may produce a maximum of 50% of their total business as controlled business.

This regulation aims to ensure that insurance agents do not overly rely on their personal networks for business, promoting professionalism in the insurance industry and protecting consumers. By setting this standard, the state encourages agents to diversify their client base beyond just controlled business relationships, which helps to foster fair competition and encourages agents to seek out new clients in the broader marketplace.

As a result, the 50% limit is designed to ensure that insurance agents maintain a healthy balance in their business practices, ultimately benefiting the overall integrity of the insurance industry in Florida.