What is the role of the Chief Financial Officer in Florida's insurance oversight?

The role of the Chief Financial Officer (CFO) in Florida's insurance oversight is primarily focused on ensuring the financial solvency of insurers. This involves a critical analysis and assessment of insurance companies' financial health, which includes reviewing their financial statements, reserves, and overall operational efficiency. The CFO's responsibility is to protect policyholders by making sure that insurance companies can meet their future obligations and pay claims. This oversight is essential in maintaining public trust in the insurance system and ensuring market stability.

In contrast, other options do not accurately reflect the responsibilities of the CFO. The approval of insurance policies sold is typically handled by regulatory bodies rather than being a function of the CFO. Providing legal counsel to insurance companies is usually the domain of legal departments or outside counsel, while marketing insurance to consumers falls under the responsibilities of insurance companies' marketing teams, not the CFO. Therefore, focusing on the financial solvency of insurers is a key aspect of the CFO's role in the insurance oversight framework.