State RegulationsFL specificDifficulty 2/5
A Florida agent forgets to deliver the Buyer's Guide and Policy Summary, and the insurer accepts the initial premium on a policy with no unconditional refund provision. Which party bears the statutory delivery duty?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under Fla. Stat. 626.99(4)(a), the duty to deliver the Buyer's Guide and Policy Summary before accepting the initial premium belongs to the insurer, which ordinarily acts through its agent in the field. An agent's failure therefore implicates the insurer - the DFS can pursue the insurer for the incomplete disclosure, and the agent faces discipline as well - rather than leaving the consumer with no remedy.
Why the other options are wrong
- A) The applicant has no duty to request the documents; delivery is the insurer's obligation.
- C) The DFS does not distribute Buyer's Guides; it enforces the delivery duty.
- D) The agent acts for the insurer, so the insurer shares exposure for the missed delivery.
Memory hook
The insurer owns the duty; the agent just carries it out.