Florida Surplus Lines Insurance Study Manual: 18th Edition: Eighteenth Edition

Florida Surplus Lines Service Office

oct. 2022 · FSLSO

Despre această carte electronică

The Florida Surplus Lines Insurance Study Manual - 18th Edition serves as Florida's official study guide for the Florida surplus lines licensing exam. PLEASE NOTE: This version includes the most up-to-date information for users who plan to take the state licensing exam AFTER December 31, 2022. This manual provides a comprehensive overview of the surplus lines industry and is a useful resource to anyone seeking information about surplus lines insurance. It specifically addresses such topics as the history of the surplus lines market, regulatory process, distribution systems, and financial analysis of surplus lines insurers. Additionally, the manual includes 75 review questions to help readers prepare for their licensing exam.

Despre autor

The Florida Surplus Lines Service Office is a self-regulating, nonprofit organization for all Florida surplus lines agents. Governed by a nine-member Board of Governors, it has the primary oversight responsibilities for one of the largest surplus lines markets in the U.S. as measured by more than $5.8 billion in premium written by the industry in Florida in 2018.

In its quest to facilitate compliance, the FSLSO's responsibilities include monitoring the activities and compliance standards of licensed surplus lines agents conducting business in Florida, as well as eligible surplus lines insurers. The FSLSO also processes submissions from independently procured coverage filers (IPC), a service previously processed by the Department of Financial Services (DFS). To further facilitate compliance, the FSLSO created the Compliance Review and Premium Reconciliation programs. Through the Premium Reconciliation program, the FSLSO compares data submitted by surplus lines agents and IPC filers with the data submitted by surplus lines insurers to ensure that all taxes and revenues have been submitted in accordance with Florida Statutes. The Compliance Review program was created to verify agent compliance with the Florida surplus lines law and includes a basic review of agent placement and filing practices, and provides educational assistance to agents and staff.

 

Known as a leader in innovative solutions, the FSLSO is a visionary among stamping offices in the U.S. It pioneered the use of technology to eliminate costs with printing, mailing, storing, and inputting thousands of policies within the state. Its proprietary filing system is known as the Surplus Lines Automation Suite (SLAS) and has been adopted by 11 states across the nation to process more than one-third of U.S. surplus lines premium annually.

 

In 2023, the FSLSO will celebrate its 25th year of service to the surplus lines community. The success of the Service Office has hinged on putting customers at the forefront of everything the FSLSO does. The FSLSO is committed to continuing that service by facilitating compliance and using leading-edge technology into the next 25 years.