State RegulationsFL specificDifficulty 2/5
A Florida health insurer wants to change the premium rates and revise the policy form for a product sold in Tampa. Under Florida law, the insurer must
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under the Office of Insurance Regulation's authority over rates and forms, an insurer must file proposed rate changes and revised policy forms with the OIR and obtain approval before using them in Florida. The filing process lets the OIR check that rates are not excessive, inadequate, or unfairly discriminatory and that forms comply with Chapter 627's policy provisions.
Why the other options are wrong
- A) Immediate implementation without filing would circumvent the required OIR review of both rates and forms.
- C) DFS consumer services handles complaints; it has no role in approving rates or forms.
- D) Newspaper publication is neither a substitute for nor a part of the statutory filing process.
Memory hook
New rate, new form? File first with the OIR.