State RegulationsFL specificDifficulty 3/5
In a Florida replacement, the existing insurer receives Form OIR-B2-312 from the replacing insurer, and the policyowner requests comparative information. Under F.A.C. 69B-151.008, the existing insurer must:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under F.A.C. 69B-151.008, the existing insurer, upon request, must provide the Comparative Information Form (OIR-B2-313) valued on the current policy year within 10 days after receiving the replacement notice (Form OIR-B2-312), and must keep replacement records for at least 3 years. The rule prevents the old insurer from stonewalling so the policyowner can make an informed comparison before abandoning existing coverage.
Why the other options are wrong
- B) The existing insurer must not cancel; its job is to furnish current-policy information so the insured can compare coverages.
- C) The 5-working-day interval is the replacing insurer's mail-out deadline, not the existing insurer's response period.
- D) Both insurers have duties in a Florida replacement; the existing insurer's information obligation is explicit in the rule.
Memory hook
Old insurer answers in 10 days with current-year values.