Florida Statutes, Rules, and Regulations Common to All Lines
An insurer is authorized in Florida for property lines but not for life. An agent places life coverage with it. What does section 626.901 say?
Answer and explanation
Answer: D. Section 626.901(1) prohibits acting for or aiding any insurer not then authorized to transact such insurance in this state, so authority is measured against the kind of insurance being placed rather than against holding some certificate. The agent's own licence, and disclosure to the insured, do not supply the insurer's missing authority.Source: Fla. Stat. § 626.901 — 626.901(1) read with 624.09(2)
More florida statutes, rules, and regulations common to all lines questions
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