In Florida, agents are allowed to engage in rebating if:
Understand the Problem
The question is asking about the conditions under which insurance agents in Florida are allowed to engage in rebating. Rebating is when an insurance agent returns a portion of the premium to the policyholder as an inducement to purchase the policy. The question requires knowledge of Florida insurance regulations.
Answer
The answer is A. offered to all insureds in the same actuarial class
In Florida, agents are allowed to engage in rebating if offered to all insureds in the same actuarial class.
Answer for screen readers
In Florida, agents are allowed to engage in rebating if offered to all insureds in the same actuarial class.
More Information
Rebating in Florida is allowed if the rebate is available to all insureds in the same actuarial class, ensuring fair and equal treatment.
Tips
A common mistake is thinking that rebating is allowed as long as the insured consents or the amount is below a certain percentage. The key requirement is that it must be offered to all in the same actuarial class.
Sources
- Florida Statutes ยง 626.572 (2024) - Rebating; when allowed. - law.justia.com
- Chapter 4.1 - Florida School of Insurance - floridaschool.com
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