Which statement about the Florida Automobile Joint Underwriting Association (FAJUA) is NOT true?

The statement that agents do not have binding authority is correct because, in the context of the Florida Automobile Joint Underwriting Association (FAJUA), agents operate under specific guidelines that generally do not permit them to bind coverage. Binding authority allows agents to agree to coverage before a policy is formally issued, but with FAJUA, the underwriting process is handled differently to ensure that all risks are correctly assessed before coverage is applied.

Regarding the other statements: coverage being available to military nonresidents is true, as FAJUA allows such individuals access to necessary auto insurance products. The option about private passenger autos having liability limits of up to 100/300/50 reflects the limits that can be set under standard automobile insurance policies, which are indeed available through FAJUA. Lastly, each licensed agent being assigned to a servicing carrier is also an accurate statement, as it creates a structure for managing risks and serving policyholders effectively within the compliance framework established by FAJUA.

Thus, the assertion about agents lacking binding authority aligns with the operational norms of the FAJUA, confirming its validity as the statement that is not true.