State RegulationsFL specificDifficulty 2/5
Besides the signed replacement statement, what must accompany a replacement application that a Florida agent submits to the replacing insurer?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under F.A.C. 69B-151.007, the replacing insurer must receive Form OIR-B2-312 together with all sales proposals used in the transaction; in practice the agent submits them with the application. Keeping the proposals in the file lets the insurer, and later the DFS, verify exactly what the applicant was shown when deciding to replace existing coverage.
Why the other options are wrong
- A) The rule requires the notice and the sales proposals up front, not after policy delivery.
- B) The existing insurer's underwriting file is not part of the replacement package.
- D) Beneficiary statements play no role in the replacement notice scheme.
Memory hook
B2-312 plus every sales proposal travels with the application.