Florida 2-20 General Lines Insurance
Questions and Answers
1.5 qualifications to become a General Lines agent
Answer 1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
2. Department of Financial Services (DFS)
Answer 1. Approves issuance of licenses to agents, CR, and adjusters
2. Supervisions of claims
3. Investigate charges of unethical conduct and take judicial actions
3. Office of Insurance Regulation (OIR)
Answer 1. Examines the qualifications of the insurance companies doing
business in FL
2.Examines the financial conditions of companies
3.Approves forms, rules, and rates
4.Office of Financial Regulation (OFR)
Answer 1. Provides regulatory oversight to FL's financial providers
2. Reports to the FL Service Commission
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, 5.FL Surplus Lines Service Office
Answer 1. Oversees the surplus lines industry
2.Reviews all surplus lines policies and documents
3.Collects surplus lines and taxes and fees
6.Risk
Answer Chance of financial loss
7.Policy
Answer Is a written contract for effecting insurance and includes
clauses, riders, endorsements, and papers which are apart of the
contract
8.Insurance
Answer Is a contract where one undertakes to indemnify another or
pay a specified amount determined on contingencies
9.Binders
Answer Temporary insurance which can be made orally or written. The
insurer shall give 5 days' prior notice of cancelling a binder unless the
binder is replace by a policy. No notice is required unless the binder
exceeds 60 days.
10.Property Insurance
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Questions and Answers
1.5 qualifications to become a General Lines agent
Answer 1. At least 18 years of age
2. United States citizen or legal alien
3. Bona fide resident of Florida
4. Place of business located in Florida
5. Not licensed for purpose of writing controlled business
2. Department of Financial Services (DFS)
Answer 1. Approves issuance of licenses to agents, CR, and adjusters
2. Supervisions of claims
3. Investigate charges of unethical conduct and take judicial actions
3. Office of Insurance Regulation (OIR)
Answer 1. Examines the qualifications of the insurance companies doing
business in FL
2.Examines the financial conditions of companies
3.Approves forms, rules, and rates
4.Office of Financial Regulation (OFR)
Answer 1. Provides regulatory oversight to FL's financial providers
2. Reports to the FL Service Commission
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8
, 5.FL Surplus Lines Service Office
Answer 1. Oversees the surplus lines industry
2.Reviews all surplus lines policies and documents
3.Collects surplus lines and taxes and fees
6.Risk
Answer Chance of financial loss
7.Policy
Answer Is a written contract for effecting insurance and includes
clauses, riders, endorsements, and papers which are apart of the
contract
8.Insurance
Answer Is a contract where one undertakes to indemnify another or
pay a specified amount determined on contingencies
9.Binders
Answer Temporary insurance which can be made orally or written. The
insurer shall give 5 days' prior notice of cancelling a binder unless the
binder is replace by a policy. No notice is required unless the binder
exceeds 60 days.
10.Property Insurance
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