Fla. Stat. §627.3518 — what it says, and how the exam tests it

627.3518 Citizens Property Insurance Corporation policyholder eligibility clearinghouse program. — The purpose of this section is to provide a framework for the corporation to implement a clearinghouse program. (1) As used in this section, the term: (a) “Applicable program standards” means the insurer participation eligibility criteria, contractual requirements, and account clearance requirements the commercial lines clearinghouse administrator and the corporation deem necessary to ensure an orderly process for offers of comparable coverage to be provided by approved surplus lines clearinghouse insurers. (b) “Approved surplus lines clearinghouse insurer” means an eligible surplus lines insurer pursuant to s. 626.918 which has a financial strength rating of “A-” or higher and a financial size category of A-VII or higher from A.M. Best Company which the clearinghouse administrator recommends for participation in the program and which the office verifies meets the applicable program standards for participation in the program within 30 business days after the commercial lines clearinghouse administrator’s recommendation. If the office does not complete such verification within the 30-business-day period, the insurer is deemed verified for purposes of participation in the program. (c) “Authorized insurer” means an insurer authorized to act as an insurer by a subsisting certificate of authority issued to the insurer by the office. (d) “Commercial lines clearinghouse administrator” means an individual or entity employed or otherwise contracted by the corporation to provide administrative or professional services to implement the commercial lines clearinghouse for authorized insurance or the commercial lines clearinghouse for surplus lines insurance within the corporation as set forth in paragraph (3)(b). (e) “Commercial lines clearinghouse for authorized insurance” means the clearinghouse program established under subparagraph (2)(b)2. (f) “Commercial lines clearinghouse for surplus lines insurance” means the clearinghouse program established under subparagraph (2)(b)1. (g) “Comparable coverage” means, for purposes of the commercial lines clearinghouse for authorized insurance and the commercial lines clearinghouse for surplus lines insurance, coverage that is equivalent to or better than coverage from the corporation as to all aspects of such coverage, as…