Who is responsible for enforcing insurance laws in Florida?

The Florida Department of Financial Services is the entity responsible for enforcing a wide array of financial laws, including those related to insurance. Within the department, the Office of Insurance Regulation specifically oversees the regulation of the insurance industry, ensuring that insurers comply with state laws and protecting consumer interests. This includes activities such as licensing insurance agents, reviewing insurance rates and policy forms, and monitoring the financial health of insurance companies operating within the state.

While the Florida Insurance Policy Board and the Florida Insurance Guaranty Association play supportive roles in the insurance landscape, they do not have the primary responsibility for enforcement of insurance laws. The policy board focuses on formulating insurance policy and advocating for industry improvements, whereas the guaranty association is designed to provide protection to policyholders when an insurance company becomes insolvent, ensuring claims are paid in such events. The primary enforcement and regulatory duties rest with the Department of Financial Services and its specialized Office of Insurance Regulation.