State RegulationsFL specificDifficulty 1/5
Before a life or health insurance policy form may be marketed in Florida, the Office of Insurance Regulation must
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under the Office of Insurance Regulation's policy-approval authority, insurance policy forms used in Florida must be filed with and approved by the OIR before use, ensuring required provisions, readable language, and compliance with the policy provisions of Chapter 627, Florida Statutes. Selling from unapproved forms exposes the insurer to OIR enforcement action.
Why the other options are wrong
- A) Insurers price their own products, subject to rate filings; the OIR reviews rather than performs the pricing.
- B) Dividends cannot be guaranteed, and the OIR does not guarantee them - misrepresenting them is itself an unfair practice.
- D) The CFO signs no individual policies; approval occurs at the form level before any policy is issued.
Memory hook
No form hits the street without OIR approval.