Florida Statute 627.031 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

View Entire Chapter

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.

F.S. 627.031 on Google Scholar

F.S. 627.031 on CourtListener

Amendments to 627.031

Annotations, Discussions, Cases:

Cases Citing Statute 627.031

Total Results: 10 | Sort by: Relevance | Newest First

Copy

Bowling v. Dep't of Ins., 394 So. 2d 165 (Fla. 1st DCA 1981).

Cited 32 times | Published | Florida 1st District Court of Appeal | 17 A.L.R. 4th 1090, 1981 Fla. App. LEXIS 19509

621(4); and Ch. 24086, Sec. 13, Fla.Laws (1947), Section 627.31, Florida Statutes (1951), Section 634.21, Florida

Copy

State, Dept. of Ins. v. Ins. Servs. Off., 434 So. 2d 908 (Fla. 1st DCA 1983).

Cited 18 times | Published | Florida 1st District Court of Appeal

...the use of sex, marital status, and scholastic achievement in the formulation of premium rates necessarily unfairly discriminates solely on the basis of those criteria. Hence, the Department contends that in promulgating Rule 4-43.03, it implemented Section 627.031(1)(a), Florida Statutes (1979), which provides that it is the purpose of the Insurance Code to "......

...This rule was not challenged in this proceeding and therefore will not be addressed. [4] Rule 4-43.03 refers to rulemaking authority of the Department under Sections 624.308(1) and 626.9611, Florida Statutes (1979); and as the laws being implemented Sections 626.9541(15)(h), 627.031(1)(a), 627.062(1), and 627.0651, Florida Statutes (1979)....

Copy

Allstate Floridian v. Off. of Ins. Reg., 981 So. 2d 617 (Fla. 1st DCA 2008).

Cited 4 times | Published | Florida 1st District Court of Appeal | 2008 WL 2048349

...anisms, and the statutory requirements with which Allstate must comply to transact insurance in Florida. Specifically, the IFO referenced the following statutes: Section 624.307(1), Florida Statutes Mandating OIR enforce the insurance code. 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 poli...

...is, in addition to any prescribed applicable denial, suspension, or revocation of certificate of authority, . . ., punishable as provided ins. 775.082 or s. 775.083. Each . . . violation shall be considered a separate offense." (emphasis added). Section 627.031(2), Florida Statutes Mandating that, if OIR has reason to believe any rate is excessive, inadequate or unfairly discriminatory, "it is directed to take the necessary action" to cause the rate to comply with Florida law....

Copy

Fortune Ins. Co. v. Dep't of Ins., 664 So. 2d 312 (Fla. 1st DCA 1995).

Cited 4 times | Published | Florida 1st District Court of Appeal | 1995 Fla. App. LEXIS 12631, 1995 WL 722932

...The statute under consideration was enacted in 1986 as a part of extensive revisions to the "Rating Law" portions of Chapter 627, Florida Statutes, particularly sections 627.011-627.381. See, Chapter 160, Laws of Florida (1986). The purposes of the law are stated in section 627.031, as follows: 627.031 Purposes of this part; interpretation....

Copy

Chrysler v. United Serv. Auto. Ass'n, 625 So. 2d 69 (Fla. 1st DCA 1993).

Cited 3 times | Published | Florida 1st District Court of Appeal

...ing that persons purchasing automobile insurance policies in this state can obtain insurance coverage for all potential liability in money damages at a reasonable cost, since that is the stated purpose of insurance *76 regulation in chapter 627. See § 627.031(1), Fla....

Copy

Chrysler Credit Corp. v. United Servs. Auto. Ass'n, 625 So. 2d 69 (Fla. Dist. Ct. App. 1993).

Published | District Court of Appeal of Florida | 1993 Fla. App. LEXIS 9485

insur-*76anee regulation in chapter 627. See § 627.-031(1), Fla.Stat. (1991). . Sturiano v. Brooks,

Copy

John Deere Ins. Co. v. State, Dep't of Ins., 463 So. 2d 385 (Fla. Dist. Ct. App. 1985).

Published | District Court of Appeal of Florida | 10 Fla. L. Weekly 239, 1985 Fla. App. LEXIS 14102

...Appellant’s first due process argument is that the means employed by the WCEPL (1981) do not bear a reasonable relationship to the goal of protecting “policyholders and the public against the adverse effects of excessive ... insurance rates”. Section 627.031(2), Florida Statutes....

Copy

Home Guar. Ins. v. Numerica Fin. Servs., Inc., 835 F.2d 1354 (11th Cir. 1988).

Published | Court of Appeals for the Eleventh Circuit

...ir dealings with large insurance companies. Chapter 627, which contains Section 627.409, expressly recognizes this, stating that the chapter’s purpose is to “promote the public welfare” and “protect policyholders and the public.” Fla.Stat. § 627.031 (1985)....

Copy

Travelers Indem. Co. v. Williams, 190 So. 2d 27 (Fla. Dist. Ct. App. 1966).

Published | District Court of Appeal of Florida | 1966 Fla. App. LEXIS 4852

, concur. . F.S. § 027.391, F.S.A. . BIS. § 627.031, V.S.A. . F.S. § 627.091, F.S.A. . Massachusetts

Copy

In re Request for Increase in Ins. Premiums by Nat'l Auto. Underwriters Ass'n, 184 So. 2d 901 (Fla. Dist. Ct. App. 1966).

Published | District Court of Appeal of Florida | 1966 Fla. App. LEXIS 5759

PER CURIAM. On the authority of Section 627.-391(3), Florida Statutes, F.S.A., the last clause of which is patently inconsistent with the first part of the section, Inter-venor’s motion to stay is granted. See Section 627.031, Florida Statutes, F.S.A....

This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. Attorney Syfert regularly works with Chapter 627 in the context of insurance coverage law and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.