Does Florida have an insurance commissioner?
Does Florida have an insurance commissioner?
David Altmaier was appointed as the Florida Insurance Commissioner in April 2016 by the Financial Services Commission. He leads the Office of Insurance Regulation (OIR) and has oversight of one of the largest insurance markets in the world.
How do I contact the Insurance Commissioner of the State of Florida?
You can contact a specialist directly by telephone on weekdays between the hours of 9:00 a.m. – 3:00 p.m. ET at the statewide, toll-free number 1-877-MY-FL-CFO (1-877-693-5236).
Who regulates insurance in the state of Florida?
The Office of Insurance Regulation The Office of Insurance Regulation regulates and provides oversight for all insurance companies and insurance-related entities licensed to do business in Florida as described above.
How do I file a complaint against Florida Blue?
You can ask us to reconsider by filing a grievance with us. You can look in your “Evidence of Coverage” for information about how to file a grievance, contact us at 1-800-926-6565 (TTY users: 1-800-955-8770) or click here for more information. Jan 1, 2022
Which of the following is the best description of an insurer?
a person or company that contracts to indemnify another in the event of loss or damage; underwriter. a person or thing that insures. a person who sells insurance.
What does the Florida insurance commissioner do?
Duties. The commissioner of insurance regulation is the administrative head of the Office of Insurance Regulation, which licenses insurance companies operating in Florida, and regulates their rates, market conduct, claims, solvency and other business practices.
Who is the head of insurance companies?
It is a ten-member body consisting of a chairman, five full-time and four part-time members appointed by the government of India. At present ( 1 Sept, 2018 ), the authority is chaired by Dr. Subhash C. Khuntia and its full-time members are Mrs T.L.Alamelu, K.
Who regulates insurance companies?
Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
Who does an agent represent during the solicitation of insurance?
Also known as business entity. Agent – An individual licensed and appointed by an insurance company to sell, solicit or negotiate insurance. Agent, Captive – An agent of a specific insurance company with the responsibility for selling insurance. Represents only one company. Aug 22, 2018
What does sliding mean in insurance?
It has come to the Director’s attention that some insurance producers are engaging in insurance “”sliding.”” “”Sliding”” is defined as an agent’s failure to fully disclose all the details of, and obtain informed consent to, the purchase ofall products and services being included in an insurance transaction.
What are the 11 business units that make up the Office of Insurance Regulation?
Business Units and Activities Organization Chart Company Admissions Legal Services Life and Health Financial Oversight Life and Health Product Review Market Research and Technology Property and Casualty Financial Oversight Specialty Product Administration Communications Office Press@floir.com 1 more row
What does twisting mean in insurance?
Twisting — the act of inducing or attempting to induce a policy owner to drop an existing life insurance policy and to take another policy that is substantially the same kind by using misrepresentations or incomplete comparisons of the advantages and disadvantages of the two policies.
What is the responsibility of the Department of insurance?
All of CDI’s functions, including overseeing insurer solvency, licensing agents and brokers, conducting market conduct reviews, resolving consumer complaints, and investigating and prosecuting insurance fraud, are to protect consumers.
Is life insurance a waste of money?
Basic life insurance policies are designed to provide replacement funds that can approximately match what the policy owner was making or a percentage of it. A life insurance policy on someone with no earnings or someone with no dependent beneficiaries can be a waste of money.
Do you really need life insurance?
Although life insurance does not need to be a part of every person’s estate plan, it can be useful, especially for parents of young children and those who support a spouse or a disabled adult or child. In addition to helping to support dependents, life insurance can help provide immediate cash at death.
