Exams / Florida General Lines (Property and Casualty) Insurance License / Fla. Stat. §627.420
Fla. Stat. §627.420 — what it says, and how the exam tests it
This section is cited by 3 of our practice questions and is tested on the Florida General Lines (Property and Casualty) Insurance License.
The text
627.420 Binders. — Binders or other contracts for temporary property, marine, casualty, or surety insurance may be made orally or in writing, and shall be deemed to include all the usual terms of the policy as to which the binder was given together with such applicable endorsements as are designated in the binder, except as superseded by the clear and express terms of the binder. No notice of cancellation or notice of nonrenewal otherwise required by this chapter shall be required unless the duration of the binder exceeds 60 days. However, for purposes of ss. 627.728 and 627.7281, an insurer shall give 5 days’ prior notice of cancellation of a binder, unless the binder is replaced by a policy or another binder in the same or another company.
Public record. Read the full, current section at the official source: www.leg.state.fl.us
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Fla. Stat. §627.420, notice of cancellation or nonrenewal of a binder is NOT required unless the duration of the binder exceeds how many days?
drill Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance → - Under Florida law, a binder for temporary property insurance may be made in which of the following ways?
drill Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance → - Under Florida law, a binder for temporary property insurance does NOT require notice of cancellation or nonrenewal unless the duration of the binder exceeds how many days?
drill Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance →