Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
An insurer agrees a settlement in writing and then withholds payment for months without explanation. Which two Florida provisions bear on that?
Answer and explanation
Answer: C. Section 627.4265 requires tender within 20 days of a written settlement and imposes 12 percent interest thereafter, while section 626.9541(1)(i) reaches failing to promptly provide a reasonable explanation in relation to claim handling. The other pairs concern purchase rights, insolvency and fraud, and replacement of coverage.Source: Fla. Stat. § 626.9541 — 626.9541(1)(i) read with 627.4265
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