Which of the following is NOT a duty of the Office of Insurance Regulation?

The Office of Insurance Regulation (OIR) plays a crucial role in overseeing the insurance industry within Florida, ensuring that companies operate fairly and meet the required standards. One of its primary responsibilities is to review the financials of insurance companies to assess their solvency and ability to pay claims. This function is essential for maintaining consumer confidence and ensuring the reliability of the insurance market.

While the OIR does involve itself in the regulation of rates and premium changes, it does not typically engage in the submission of rate filings on behalf of the companies. Insurers themselves are responsible for filing their proposed rates with the OIR for approval.

Setting underwriting rules is another regulatory function, as the OIR establishes guidelines that insurance companies must follow when deciding whether to insure a risk. However, the specific underwriting rules may vary between companies as they tailor their practices within the bounds set by regulations.

Issuing insurance claims payments is not a duty of the OIR. This task is the responsibility of the individual insurance companies, which manage their own claims processes and decisions. The OIR's role is to regulate the companies but does not extend to direct involvement in the claim payment process. Thus, stating that issuing insurance claims payments is a duty of the OIR is not accurate.