State RegulationsFL specificDifficulty 2/5
Who appoints the Commissioner of the Office of Insurance Regulation?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
The Financial Services Commission, which consists of the Governor and the Cabinet meeting together, appoints the Commissioner of the Office of Insurance Regulation as well as the head of the Office of Financial Regulation. No single official, including the Chief Financial Officer alone, appoints these regulators under Florida's regulatory structure.
Why the other options are wrong
- B) The CFO sits on the Financial Services Commission but does not appoint the Insurance Commissioner single-handedly.
- C) The Governor alone does not choose the Insurance Commissioner; the appointment is made by the Financial Services Commission acting collectively.
- D) Insurers have no vote in selecting their regulator; the Financial Services Commission makes the appointment.
Memory hook
The Governor-and-Cabinet Commission picks both commissioners.