First, we notify agents who have been selected for an impending review via a Notice of Intent to Review email.  This email will include the name of the analyst you have been assigned to, as well as the date that the review must be completed by, typically a month from the notification date.

Within 5 - 7 days of the notice, one of our Compliance Review Analysts will contact you via phone or email to schedule the review date and type. Reviews can be conducted on-site in your office or remotely via a Desk Review. The review type will largely depend on the agent’s location (in-state or out-of-state) and the agent’s policy count. 

Nonresident agents and agents with low policy counts are typically scheduled for remote Desk Reviews.  Information can be transferred between the analyst and the agent via email, CD, flash drive, fax and/or postal service.  On-site reviews are better suited for agents with large policy counts. 

Once a date and type of review has been established, the Compliance Review Analyst will forward a list of randomly selected policies for review and any other details related to the review.  It is the agents’ responsibility to ensure that the specific records requested are available for the analyst on the date of the review. 

FSLSO may request files that are up to three (3) years old.  Florida Statute 626.930 requires agents to keep a full and true record of all surplus lines policies in his or her office for a period of 5 years.  If expired policies have been put into storage, they must be retrieved from storage and made available to the analyst.  If your files are electronic, the analyst will need access to those files as well.

The review may last anywhere from half a day to 2.5 days depending on the size of the agent’s book of business. The agent does not have to be present for the review, however there should be a representative on hand who can assist if the analyst has questions.

Once the review has been completed, the analyst may provide a brief summary of the review findings.  Within 30 days, the surplus lines agent will receive a final report from FSLSO detailing any discrepancies or deficiencies found.  The surplus lines agent may then be required to submit a response or corrective action plan to address any non-compliance issues noted in the final report.

The Compliance Review program has been instrumental in improving the statutory compliance rates among our surplus lines agents. If you have any questions regarding our program, please contact Felicia Meredith at 800.562.4496 ext. 105.

REGISTER NOW FOR OUR WEBINAR - APRIL 6th

Thursday, April 6th at 2:00 p.m EST we are hosting a special webinar just for SLIP users. If you file in SLIP, you don't want to miss this!

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We will be discussing common filing errors, compliance issues and lots of other helpful information that can make the filing process easier.   We've designed this specifically for users responsible for making transactional filings with FSLSO.

CAN YOU SPARE A MOMENT TO TAKE OUR SURVEY?

Did you know that FSLSO.com provides free market data reports  to our members and the public?

We are in the process of updating these reports and could use your feedback to improve what we have now and what we might provide in the future.

Would you take a moment to review our reports then complete our survey?  We appreciate all of the feedback we can get.  Thank you!