Financial Responsibility, complete

What this document is

Florida Statutes ch. 324 - Financial Responsibility, complete (ss. 324.011-324.252) is a state statute published by The Florida Senate / Florida Legislature (flsenate.gov), official Florida Statutes. It is one of the Florida documents that insurance license exam questions are written from, including florida property & casualty, florida personal lines, florida claims adjuster practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Fla. Stat. Sec. 324.022(1) (Financial Responsibility for Property Damage)

  “Every owner or operator of a motor vehicle required to be registered in this state shall establish and maintain the ability to respond in damages for liability on account of accidents arising out of the use of the motor vehicle in the amount of $10,000 because of damage to, or destruction of,...”

• Fla. Stat. Sec. 324.151(1)(a) (Motor Vehicle Liability Policies; Required Provisions; Owner's Policy)

  “(a) An owner’s liability insurance policy must designate by explicit description or by appropriate reference all motor vehicles with respect to which coverage is thereby granted, must insure the owner named therein, and, except for a named driver excluded under s. 627.747, must insure any other...”

• Fla. Stat. § 324.151(1)(c) (Motor Vehicle Liability Policies; Judgment and Insolvency Provisions)

  “Said policies shall also contain a provision that the satisfaction by an insured of a judgment for such injury or damage shall not be a condition precedent to the right or duty of the insurance carrier to make payment on account of such injury or damage, and shall also contain a provision that...”

• Fla. Stat. § 324.121(2)(b) (Suspension of License and Registration; Insurer Failed to Pay)

  “If the department determines that an insurer was obligated to pay the judgment but failed to do so through no fault of the judgment debtor, the judgment debtor’s license and registration and any nonresident’s operating privilege shall not be suspended.”

• Fla. Stat. § 324.0221(2) (Suspension of Driver License and Registration; Required Security)

  “The department shall suspend, after due notice and an opportunity to be heard, the registration and driver license of any owner or registrant of a motor vehicle with respect to which security is required under ss. 324.022 and 627.733 upon:”

• Fla. Stat. § 324.023 (Financial Responsibility for Bodily Injury or Death; Driving Under the Influence)

  “In addition to any other financial responsibility required by law, every owner or operator of a motor vehicle that is required to be registered in this state, or that is located within this state, and who, regardless of adjudication of guilt, has been found guilty of or entered a plea of guilty or...”

• Fla. Stat. § 324.021(7)(b) (Proof of Financial Responsibility; Two or More Persons)

  “Subject to such limits for one person, in the amount of $20,000 because of bodily injury to, or death of, two or more persons in any one crash;”

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More Florida sources

• Florida Administrative Code, Division 69O: chs. 69O-123 (Civil Remedy), 69O-124 (Anti-Coercion), 69O-125 (Unfair Discrimination), 69O-142 (Insurer Conduct), 69O-153 (Deceptive Insurance Practices), 69O-189 (Workers' Compensation), 69O-196 (Premium Finance Companies), 69O-215 (Agents), 69O-220 (Adjusters), 69O-228 (Continuing Education), 69O-230 (General Ethics and Disclosure Requirements) and 69O-231 (Penalty Guidelines for Insurance Representatives) (98 rules, 69O-123.001-69O-231.160)Regulation
• Florida Administrative Code, Division 69O (Office of Insurance Regulation): chs. 69O-166 (Property and Casualty Insurer Practices), 69O-167 (Property and Casualty Insurance Contracts), 69O-170 (Property and Casualty Insurance Rating), 69O-175 (Motor Vehicle Insurance) and 69O-176 (Motor Vehicle Insurance Requirements), 87 of the 89 rules the publisher lists (the two omitted are 69O-170.021 and 69O-170.022, transferred stubs whose .doc file holds a title and nothing else) (87 rules, 69O-166.021-69O-176.022)Regulation
• Florida Statutes s. 626.112 - License and appointment requiredState statute
• Florida Statutes s. 626.2815 - Continuing education requirementsState statute
• Florida Statutes s. 626.611 - Grounds for compulsory refusal, suspension, or revocation of licenseState statute
• Florida Statutes s. 626.621 - Grounds for discretionary refusal, suspension, or revocation of licenseState statute
• Florida Statutes s. 626.641 - Duration of suspension or revocation of licenseState statute
• Florida Statutes s. 626.7451 - Managing general agents; required contract provisionsState statute