Surplus lines insurer florida. 94% on all policies effective July 1, 2020 and after.

Surplus lines insurer florida. For additional FSLSO has specific requirements surplus lines agents and insurers must follow in order to be compliant Florida surplus lines law. Florida (FSLSO) launched SLIP+ in October 2024. Supporters say it streamlines access for hard-to-insure properties, while critics warn homeowners might not grasp the risks of less-regulated, non-guaranteed policies. Buy construction equipment, Humvees, trucks, uniforms & field gear, home & office goods, medical equipment, unclaimed property & more. Policyholders insured by surplus lines carriers are not protected under the Florida Insurance Guaranty Act with respect to any right of recovery for the obligation of an insolvent unlicensed insurer. It offers the same streamlined, user-friendly experience to surplus lines filers with new, enhanced features. Experience the difference and discover why SLIP+ is the future of surplus lines reporting. These forms and templates are designed to aid customers with their compliance duties. S. Mar 17, 2025 · Surplus Lines Chart The chart below identifies each state's requirements for a surplus lines carrier for corporate changes. Sep 20, 2024 · Learn about the types of government auctions and the excess and seized property they sell, including computers, artwork, mobile homes, and more. All individuals in the state of Florida who hold an insurance license must adhere to specific requirements set forth by the Florida Department of Financial Services (DFS) to maintain a license in good standing. How an insurance company is registered with OIR and the types of premiums written by the insurer can affect which insurance premium taxes and fees the insurer will have to pay. Multistate policies are charged 4. It can refer to income, profits, capital, and goods, and it's often the result of a disconnect between supply Surplus definition: something that remains above what is used or needed. The following are the statutes that govern the Florida surplus insurance industry. Jun 16, 2025 · Florida’s governor has signed House Bill 1549 into law, eliminating the requirement that insurance agents make a “diligent effort” to find coverage before placing properties with a surplus Understand surplus lines insurance Florida regulations and compliance requirements with this comprehensive guide for brokers and insurers. All sales open to the public. PART VIII UNAUTHORIZED INSURERS AND SURPLUS LINES (ss. How to use surplus in a sentence. Could surplus lines insurance be the answer? Understanding Surplus Lines Insurance A person insured by such Surplus Lines insurer does not have the protection of the Florida Insurance Guaranty Act to the extent of any right or recovery for the obligation of an insolvent unlicensed insurer. Insurance agent and agency licensure for the State of Florida is handled by the Florida Department of Financial Services, Division of Agent and Agency Services. 5 days ago · The Office of Insurance Regulation company search service can provide full names, business addresses, and identifying information for companies/entities doing business in the State of Florida. 9201 - Notice of cancellation or nonrenewal. Yet, there are still some provisions in Chapter 627 with no counter-parts within the Florida Surplus Lines Statute. Follow these links to view lists of insurers and surplus lines companies that are eligible to do business in the State of Florida. Surplus lines insurance, Florida. com and we will be happy to assist you. The per-policy fee charged by the filing surplus lines agent and authorized by F. If you need assistance with Surplus Lines regulatory matters (i. Jul 1, 2020 · Tax Estimator Pursuant to HB 7097, the surplus lines premium tax rate was reduced from 5% to 4. 913 - 626. May 19, 2025 · On May 2, 2025, the Florida Senate voted to pass Senate Bill (SB) 1549, which would repeal the requirement for insurance producers to perform a diligent search of the admitted market before Surplus lines insurance agents were required to make a diligent effort to obtain coverage through an authorized insurance company and document those efforts. Feb 18, 2025 · Understanding the Surplus Lines Fee: A Guide to regulations and implications for businesses and insurance providers. To search by name Nov 1, 2010 · After the Florida Legislature excepted surplus insurers from Chapter 627 of the Florida Insurance Statutes, there were some protections afforded to policyholders within the Surplus Lines Statute similar those provided in Chapter 627. 5 billion and represents over 1. Additionally, I understand surplus lines insurers Explanation of the Nonadmitted and Reinsurance Reform Act (NRRA) of 2010 as part of the Dodd Frank Wall Street Reform and Consumer Protection Act that standardized reporting and payment of surplus lines tax on multistate risks. (3) This section, and this Surplus Lines Law, do not apply as to insurance coverages which are subject to s. Nov 13, 2024 · A surplus lines company is a type of insurer that provides coverage for risks that are unavailable through standard, licensed carriers. 801 and rules adopted thereunder, may elect to maintain surplus as to policyholders in an amount equal to the requirements of s Jun 13, 2025 · FL| Florida House Bill 1549, just signed into law, makes significant changes to Florida’s financial services and insurance regulations. Access to Lloyd's of London and other major world markets. — (1)A surplus lines agent may not place any coverage with any unauthorized insurer which is not then an eligible surplus lines insurer, except as permitted under subsections (5) and (6). The Florida Surplus Lines Service Office does not provide legal or tax advice. SLIP+ is the next generation version of SLIP, FSLSO’s premier surplus lines filing platform. 626. We also offer guidelines and forms for transferring business to another surplus lines agent. Dec 6, 2022 · SURE today announced it now writes excess and surplus lines property insurance in Florida. Order by Auction # Order by Title Order by Time Left Order by Current Price View or download a list of all approved FSLSO coverage codes and descriptions. Sep 16, 2025 · Arue Enterprises LLC v. e. According to Florida law, obtaining and maintaining an accurate and complete surplus lines disclosure is the sole responsibility of the retail/producing agent, not the surplus lines agent. Order by Auction # Order by Title Order by Time Left Order by Current Price Jan 9, 2024 · Struggling with insurance choices in Florida? Learn why self-insurance may not be wise and how to navigate between admitted and surplus lines carriers. 94% on all policies effective July 1, 2020 and after. Surplus Lines policies and coverage independently procured from an unauthorized insurance company are administered by the Florida Surplus Lines Service Office. 901-626. The law streamlines the process for securing insurance through surplus lines carriers by removing the previous requirement that agents must first obtain three denials from admitted insurers before turning to surplus lines. Find out how it works & get quotes today. ABOUT FSLA The Florida Surplus Lines Association (FSLA) is an association with a current regular membership of Excess and Surplus Lines Agency member firms and associate members (made up of excess and surplus lines insurance companies, re-insurers, Lloyd’s brokers, premium finance companies, surveyors and claim adjustment companies). Florida joins Louisiana, Mississippi, Virginia, and Wisconsin as states that have removed the diligent 4 days ago · The Office of Insurance Regulation company search service can provide full names, business addresses, and identifying information for companies/entities doing business in the State of Florida. For more information on Florida Statutes visit Online Sunshine. Jun 17, 2025 · Florida's 2025 surplus lines bill eliminates the "diligent effort" rule, allowing insurance agents to place coverage with surplus lines carriers without first trying admitted insurers. The Legislature hereby finds and declares that the establishment of a surplus lines self-regulating organization is necessary to establish a system that will permit better access by consumers to approved unauthorized insurers. Sep 19, 2024 · A surplus is the amount of an asset or resource that exceeds what is needed or used. Jan 3, 2025 · Navigate Florida's surplus lines insurance landscape with our comprehensive guide on rules, compliance, and legal protections. 2 million policies and consumers who, without the surplus lines market, would have a difficult time obtaining insurance, if they were able to secure it at all. 939) 626. If you can dream it, surplus lines insurance can cover it! Though it generally only comprises roughly 10% of the total Florida property and casualty insurance marketplace, surplus lines insurance accounted for over $5. Find great deals on heavy equipment, cars, buses and even airplanes. 938. Among other things, the bill has removed the “diligent effort” requirement applicable to surplus lines agents. policy fees, licensing) please contact the FSLSO office. 8 billion in premium in 2018 alone from insurers domiciled in the United States and abroad. Define surplus. Forms Surplus lines insurance is subject to various rules related to: Surplus Lines Disclosure, NFIP Acknowledgement of Understanding, and Sample Face / Front Page. Being more than or in excess of what is needed or required: surplus grain. To review the steps to obtain a Florida resident surplus lines agent license (1-20) or a Florida non-resident surplus lines agent license (91-20), please click the appropriate links below: Florida eligible or federally authorized non-admitted insurers can now register for a SLIP+ account by clicking the “Register” button on the login page. 932), the term “premium” means the consideration for insurance by whatever name called and includes: in consideration for an insurance contract, which items are deemed to be a part of the premium. Also included are links to other information related to the eligibility of insurance companies. The reason(s) for declination by the insurer was (were) as follows: Violation of the Prohibition Against Charging Fees in Addition to Premium The purpose of this Bulletin is to remind surplus lines insurers and agents that it is unlawful for agents to charge fees to the insured upon the sale of a surplus lines insurance policy unless specifically authorized by law. 931, Agent Affidavit and Insurer Reporting Requirements. The meaning of SURPLUS is the amount that remains when use or need is satisfied. surplus synonyms, surplus pronunciation, surplus translation, English dictionary definition of surplus. (1) There is hereby created a nonprofit association to be known as the Florida Surplus Lines Service Office. “Broker fees,” “consulting fees” and similarly named fees that produce additional income The surplus lines agent shall collect from the insured the amount of the tax at the time of the delivery of the cover note, certificate of insurance, policy, or other initial confirmation of insurance, in addition to the full amount of the gross premium charged by the insurer for the insurance. The FSLSO handbook with all the information surplus lines insurers need to know to transact business in Florida. Jan 19, 2022 · Florida took a step toward opening its distressed property insurance market to more carriers Tuesday when a Senate committee approved a bill that would let Florida-based surplus lines insurers May 9, 2025 · Florida has passed legislation that eliminates the state’s diligent effort requirement for agents seeking to place insurance policies in the non-admitted, or surplus lines, market. Ron DeSantis signed House Bill 1549 into law. ) The Florida Surplus Lines Disclosure form is a downloadable document with all language required by Florida law to export insurance to the surplus lines market. A new disclosure form aims to clarify those Select Year: The 2025 Florida Statutes Mar 5, 2025 · The steady growth in excess and surplus lines’ business in Florida appears to be leveling off, another sign that the insurance market in the state is settling down after years of turbulence 2024 Florida Statutes Title XXXVII - Insurance Chapter 626 - Insurance Field Representatives and Operations Part VIII - Unauthorized Insurers and Surplus Lines (Ss. . Feb 10, 2020 · For example, Florida prohibits most types of broker fees charged on admitted insurance policies but amended its surplus lines laws in 2019 to specifically allow for the charging of “reasonable Surplus Lines Policies • Must have a notice that reads: “This insurance is issued pursuant to the Florida Surplus Lines Law. Florida law requires that in order for a non-resident surplus lines agent to obtain a license in Florida, the applicant must hold a resident surplus lines license in his/her home state (Residents of New York are not eligible to obtain a Florida surplus lines license. Accordingly, the Legislature declares that this section Dec 31, 1994 · A surplus lines insurer which is a member of an insurance holding company that includes a member which is a Florida domestic insurer as set forth in its holding company registration statement, as set forth in s. To search by name As required by Florida Statute 626. According to Florida law (F. It also updates assessment […] Jul 2, 2024 · Surplus line carries enter Florida’s insurance market Surplus line carriers are insurance companies that provide property insurance that other insurers don’t cover in a particular market. 916, I have agreed to this placement. Download a PDF. These "non-admitted" companies provide tailored solutions for unusual or high-risk needs, such as: Aug 15, 2023 · Surplus lines insurance policies offer coverage for risks that regular insurance companies don’t want to take on. Additionally, the insured or policyholder is required to sign a disclosure notice acknowledging their understanding that they are obtaining coverage through a surplus lines insurance company. View live online auctions, and bid for Municipal & State auction items, police auctions, & more. Westchester Surplus Lines Insurance Company RSS Track this Docket Docket Report This docket was last retrieved on September 18, 2025. Nov 20, 2024 · The purpose of the Insurer Procedures Manual is to provide information regarding statutory compliance filings for all surplus lines insurers operating in the state of Florida. These materials are intended to serve as reference tools and should not be relied upon as definitive sources or as substitutes for your own thorough review of the applicable laws, regulations, rules, bulletins, or other materials published by relevant state or federal governments or agencies. adj. This market provides coverage for risks that standard or admitted insurers are unable or unwilling to cover, filling a vital role as a supplement to the admitted market. A Surplus Lines insurer is an unauthorized insurer that has been made eligible by OIR to write certain property and casualty insurance business not written by an admitted/authorized insurer. 937, the Surplus Lines Law. You can search by any combination of company name, company type, address type, and authorized lines of business. Insurer Surplus Lines Insurers A foreign or alien unauthorized insurer made eligible by the Florida Office of Insurance Regulation (OIR), a federally authorized insurer as classified by the OIR under the provisions of the Nonadmitted and Reinsurance Reform Act or an alien insurer listed on the NAIC IID List. Order by Auction # Order by Title Order by Time Left Order by Current Price. May 6, 2025 · Starting July 1, Florida insurance agents will no longer need to make a “diligent effort” to find coverage for hard-to-place properties before turning to surplus lines insurance if the A surplus lines insurer which is a member of an insurance holding company that includes a member which is a Florida domestic insurer as set forth in its holding company registration statement, as set forth in s. The Florida Surplus Lines Insurance Study Manual is Florida's official study guide for the Florida surplus lines licensing exam, providing a comprehensive overview of the surplus lines industry and surplus lines insurance resources. Surplus lines agents are only required to obtain and maintain a disclosure when acting in both a producing and surplus lines capacity. This may include old homes located in coastal areas, yachts, day-care liability or medical malpractice needs. HB 1503, which went into effect July 1, allows surplus lines carriers to take out policies from the state’s Citizens Property Insurance Corp that are not primary residences or homesteaded properties Public Surplus is the best government surplus auction system available. Requires State Examination OR Become a resident of Florida, held a valid resident license in a reciprocal state with the equivalent line of authority for at least one (1) continuous year prior to applying for a license in Florida, and submit the application for the Florida surplus lines license within 90 days of becoming a resident of Florida. In order for a surplus lines insurer to be on Florida’s list of eligible surplus lines insurers, it must go through the same eligibility application process prior to implementation of NRRA and submit the filings listed below. Surplus lines insurance is a specialized insurance designed to provide protection for risks that are considered non-standard or high-risk. ” Jun 17, 2025 · The Florida Surplus Lines Service Office welcomed the change, saying it will widen consumer options, eliminate redundant paperwork and accelerate access to alternative insurance options. See examples of SURPLUS used in a sentence. SURPLUS definition: 1. Learn more. Please view the disclaimer before using this service for the first time. As a surplus lines insurance broker, we don’t deal directly with the public but work with FL insurance agents. (1) “Surplus lines agent” means an individual licensed as provided in this part to handle the placement of insurance coverages with unauthorized insurers and to place such coverages with authorized insurers as to which the licensee is not licensed as an agent. 628. 918Eligible surplus lines insurers. Browse online government auctions of government surplus. Typically, standard companies do not write policies for unusual or high risks. The surplus lines According to the Florida Surplus Lines Service Office, 2021 surplus lines premium volume was over $9. Filing All premium bearing policy transactions placed with a surplus lines insurer, taxable or non-taxable, must be electronically submitted to FSLSO via SLIP or in the prescribed electronic format for XML Batch File Submissions within thirty (30) days from the effective date of the policy transaction. Aug 14, 2025 · The Florida Surplus Lines Service Office (FSLSO) is issuing notice that five surplus lines insurers are currently out of compliance with Florida Statute 626. As traditional carriers retreat, homeowners and independent insurance agents are left searching for solutions. FSLSO maintains a contract with the Florida Department of Financial Services to produce and distribute the State's official study guide for the surplus lines licensing exam, titled Florida Surplus Lines Insurance Study Manual. the amount of money you have left when you sell…. Apr 12, 2023 · Surplus lines insurance is a good option if you’ve struggled to find home insurance due to your home’s risk of damage. I understand that coverage may be available in the admitted market and that persons insured by surplus lines carriers are not protected by the Florida Insurance Guaranty Act with respect to any right of recovery for the obligation of an insolvent unlicensed insurer. Use this a guide for surplus lines discloser to insureds. It is regulated by the Florida Department of Financial Services and the Florida Office of Insurance Regulation. (4) Except as may be specifically stated to apply to surplus lines insurers, the provisions of chapter 627 do not apply to surplus lines insurance authorized under ss. 94% tax on the entire premium, but will still require a premium allocation of Florida and Non-Florida. Mar 20, 2025 · The homeowners' insurance market is in crisis in states like California, Louisiana, and Florida, where natural disasters, rising claims costs, and insurer withdrawals have made coverage harder to find. A surplus lines license [1-20 (Resident) or 91-20 (Non-Resident)] is required for individuals to place insurance coverages with non-admitted insurers. Persons insured by surplus lines carriers do not have the protection of the Florida Insurance Guaranty Act to the extent of any right of recovery for the obligation of an insolvent insurer. Order by Auction # Order by Title Order by Time Left Order by Current Price Public Surplus is the best government surplus auction system available. A more recent docket listing may be available from PACER. The bill marks a substantial swing toward removing barriers to entry in the surplus lines insurance space. 801 and rules adopted thereunder, may elect to maintain surplus as to policyholders in an amount equal to the requirements of s Dec 28, 2023 · Remember, when considering excess and surplus lines insurance, consulting with a licensed surplus lines agent or an insurance professional can provide invaluable guidance in navigating this specialized segment of the insurance market. Have a question? Please email membership@myfsla. Last Update: 03/17/2025 Updates to the information will be noted with a "*" next to the state name and edits will be italicized and bolded. Public Surplus is the best government surplus auction system available. 916 (4) is also included within the meaning of the term “premium The Southeast Insurance Group provides surplus lines insurance coverage. (an amount that is) more than is needed: 2. The Florida Surplus Lines Service Office (FSLSO) is a not-for-profit entity created by statute to serve the surplus lines insurance market. Jun 16, 2025 · On June 13, Florida Gov. These materials are also not a substitute for legal advice on the subject matter. Refer to this list as you record policy and transaction data. Whenever agents, brokers, companies, or policyholders have specific questions pertaining to business practices, tax implications, or statutory interpretation, we urge the respective parties to seek the counsel of a competent attorney or tax consultant licensed in the WHAT IS SURPLUS LINES INSURANCE? Excess and surplus lines insurance is an alternative type of insurance coverage for consumers who cannot get coverage in the standard/admitted market. Eligible Insurers Follow these links to view lists of insurers and surplus lines companies that are eligible to do business in the State of Florida. 939) Sep 17, 2014 · A surplus lines insurer is an nonadmitted insurance company whose rates and coverage forms are not reviewed and approved by the Florida Office of Insurance Regulation (OIR). Jun 4, 2025 · Florida's insurance surplus line law is a set of regulations that govern the state's surplus lines insurance market. cteay ufvqtg uzyt enhl lbft watnb cajugi tszvp ftuaratk gbpij