627.031
Purposes of this part; interpretation.
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627.031 Purposes of this part; interpretation.—
(1) The purposes of this part are:
(a) To promote the public welfare by regulating insurance rates as herein provided to the end that they shall not be excessive, inadequate, or unfairly discriminatory;
(b) To encourage independent action by, and reasonable price competition among, insurers;
(c) To authorize the existence and operation of qualified rating organizations and advisory organizations and to require that specified rating services of such rating organizations be generally available to all authorized insurers; and
(d) To authorize cooperation between insurers in ratemaking and other related matters.
(2) It is the purpose of this part to protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory insurance rates, and to authorize the office to regulate such rates. If at any time the office has reason to believe any such rate is excessive, inadequate, or unfairly discriminatory under the law, it is directed to take the necessary action to cause such rate to comply with the laws of this state.
(3) Nothing in this part shall be construed to repeal or modify the provisions of part IX of chapter 626, relating to unfair trade practices.
History.—s. 411, ch. 59-205; s. 1, ch. 67-9; ss. 13, 35, ch. 69-106; s. 1, ch. 71-3(B); s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 338, 357, 809(2nd), ch. 82-243; ss. 49, 79, ch. 82-386; s. 28, ch. 87-228; s. 114, ch. 92-318; s. 54, ch. 2001-63; s. 1061, ch. 2003-261.
Notes of Decisions
Cited in 9
cases, 1966–2008 · leading case: State, Dept. of Ins. v. Ins. Services Office
State, Dept. of Ins. v. Ins. Services Office (1983)
“03, it implemented Section 627.031(1)(a), Florida Statutes (1979), which provides that it is the purpose of the Insurance Code to ".”
ALLSTATE FLORIDIAN v. Office of Ins. Reg. (2008)
“ Section 627.031(1)-(2), Florida Statutes Stating the purpose of the insurance rating law is to "promote the public welfare" by regulating insurance rates to ensure they are not excessive, inadequate or unfairly discriminatory, and to "protect policyholders and the public…”
Fortune Ins. Co. v. Department of Ins. (1995)
“The purposes of the law are stated in section 627.031, as follows: 627.031 Purposes of this part; interpretation.”
Nationwide Mutual Insurance Company v. Williams (1966)
“WIGGINTON and JOHNSON, JJ., concur. NOTES [1] Section 627.”
John Deere Insurance Co. v. State, Department of Insurance (1985)
“066 is not reasonably related to the legislative goal of protecting policyholders from exorbitantly high rates.”
Travelers Indemnity Co. v. Williams (1966)
“” From our review of the record, and after carefully considering the contentions advanced by appellants, we cannot say that the judgment exercised by the Commissioner in this case and the conclusions reached by him on the record are either erroneous as a matter of law, find no…”
Home Guaranty Insurance v. Numerica Financial Services, Inc. (1988)
“” Fla.Stat. § 627.031 (1985). Section 627.409 in particular clearly exists for this purpose.”
Chrysler v. UNITED SERV. AUTO. ASS'N (1993)
“See § 627.031(1), Fla. Stat. (1991). NOTES [1] Sturiano v.”
In re Request for Increase in Insurance Premiums by National Automobile Underwriters Ass'n (1966)
“See Section 627.031, Florida Statutes, F.S.A.”
— 627.031(1) — 2 cases
ALLSTATE FLORIDIAN v. Office of Ins. Reg. (2008)
“ Section 627.031(1)-(2), Florida Statutes Stating the purpose of the insurance rating law is to "promote the public welfare" by regulating insurance rates to ensure they are not excessive, inadequate or unfairly discriminatory, and to "protect policyholders and the public…”
Chrysler v. UNITED SERV. AUTO. ASS'N (1993)
“See § 627.031(1), Fla. Stat. (1991). NOTES [1] Sturiano v.”
— 627.031(1)(a) — 1 case
State, Dept. of Ins. v. Ins. Services Office (1983)
“03, it implemented Section 627.031(1)(a), Florida Statutes (1979), which provides that it is the purpose of the Insurance Code to ".”
— 627.031(2) — 2 cases
ALLSTATE FLORIDIAN v. Office of Ins. Reg. (2008)
“ Section 627.031(1)-(2), Florida Statutes Stating the purpose of the insurance rating law is to "promote the public welfare" by regulating insurance rates to ensure they are not excessive, inadequate or unfairly discriminatory, and to "protect policyholders and the public…”
John Deere Insurance Co. v. State, Department of Insurance (1985)
“066 is not reasonably related to the legislative goal of protecting policyholders from exorbitantly high rates.”
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