Florida Property & Casualty Insurance License Exam — All Questions
3 questions
Which Florida agency licenses and disciplines resident property and casualty (general lines) insurance agents?
- a.The Office of Insurance Regulation (OIR)
- b.The Department of Financial Services (DFS)✓
- c.The Department of Highway Safety and Motor Vehicles
- d.The Florida Insurance Guaranty Association
In Florida the Department of Financial Services, through its Division of Insurance Agent and Agency Services, licenses and disciplines agents. The OIR is a separate body that regulates insurers and reviews rates and forms.
In Florida's split regulatory structure, the Office of Insurance Regulation (OIR) is primarily responsible for:
- a.Licensing individual agents
- b.Running the state DMV
- c.Licensing insurers and reviewing rates and policy forms✓
- d.Administering agent CE courses
The OIR regulates insurance companies, including their solvency, rates, and forms, while the DFS handles agent licensing and market conduct involving agents. The exam frequently contrasts these two Florida bodies.
A Florida agent adds an unrequested coverage and its premium to a customer's policy without the customer's informed consent. This prohibited practice is known as:
- a.Twisting
- b.Rebating
- c.Sliding✓
- d.Churning
Sliding is adding coverage or a fee without the insured's informed consent, a specifically prohibited unfair practice under Florida law. Twisting involves misrepresentation to induce replacement; the two are distinct.