State RegulationsFL specificDifficulty 3/5
A Tampa resident needs help with two issues: (1) an insurer's rate increase on her health policy, and (2) an agent who collected her premium but never forwarded it. Which agency handles each matter?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Florida splits insurance oversight by subject: the Office of Insurance Regulation supervises insurers - including rate filings for a health policy - while the Department of Financial Services under the CFO licenses and investigates agents, including the mishandling of premium funds. Routing each matter to the correct regulator is what gets it resolved efficiently.
Why the other options are wrong
- B) DFS does not review or approve insurer rate filings; that is the OIR's function.
- C) The OIR does not license or discipline individual agents - that is the DFS's role.
- D) The Office of Financial Regulation regulates banks and securities, not insurance rates or agent conduct.
Memory hook
Rate problem = OIR; agent problem = DFS.