Florida Statutes, Rules, and Regulations Common to All Lines
What does a Florida certificate of authority establish for an insurer?
Answer and explanation
Answer: C. Section 624.09(1) defines an authorized insurer as one duly authorized by a subsisting certificate of authority issued by the office to transact insurance in this state, so the certificate is what confers authority to transact. State of formation is governed by section 624.06, and form approval and agent appointment are separate requirements.Source: Fla. Stat. § 624.09 — 624.09(1), Function of the certificate
More florida statutes, rules, and regulations common to all lines questions
- An agency places business with an insurer for which it holds no appointment and which is not a surplus lines insurer. What does Florida law require of the funds belonging to that insurer?
- An agent adds a service charge to the premium quoted for a Florida life policy and keeps it. What does section 626.9541 say?
- An agent charges the correct premium but hands the applicant a personal cheque afterward. Which provision fits?
- An agent collects premium, spends it on agency payroll, and never remits it to the insurer. The amount is $25,000. What does Florida law provide?
- An agent holds return premium owed to a former policyholder and treats it as agency working capital while deciding what to do. Why does this breach the statute?
- An agent is licensed and appointed for life insurance only, and a client asks about a health product the agent is not appointed to write. What does Florida law permit?
589 Florida questions like this one.
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