February 6, 2019

Happening This Week

Mandatory SLIP Password Change Coming Soon

During the next few business days, you will be required to change your SLIP or Batch password.

On the day this occurs all SLIP and Batch users will receive advance notice via email.

All users logging in to SLIP or Batch (including the Batch web service) will be required to change their passwords to meet the following complexity requirements. Passwords must:

Be between 8 and 64 characters long;
Contain at least one upper case letter;
Contain at least one lower case letter; and
Contain at least one number.

SLIP Compliance Checkup Is Here

The new dashboard, Compliance Checkup, is launching in a few days.

Using the latest filing and submission data the dashboard will show you a complete picture of your compliance status.

It is broken into 6 widgets that show you different compliance areas.

Timely Filings. Tracks the timeliness of all new business and renewal transactions.
Filing Accuracy. Tracks the errors that have been TIQed (Transaction in Question) by the system.
Timely Payments. Shows the status of outstanding and previously paid invoices.
Self-Appointment/License Renewal. Notifies agents when their self-appointment with the Department of Financial Services is coming up for renewal.
Quarterly Affidavit. Reminds agents that have reported transactions within a quarter that a Quarterly Affidavit is due.
Catastrophe Information. Monitors whether the agent has reported their Catastrophe Information for the calendar year.

For more details on how the dashboard functions, watch our video below.

Cat Fund Discontinuation

As you are likely aware, the Florida Hurricane Catastrophe Fund (FHCF) assessment will no longer be charged or credited effective April 1, 2019. Mark your calendars.

March 31

Last day to file policies and all related transactions with a policy effective date of January 1, 2007 – December 31, 2014 to which the FHCF assessment applies.

April 1

The FHCF assessment will no longer be charged or credited in the SLIP system. Final FSLSO invoices for the FHCF assessment will go out.

April 30

All refund requests for the FHCF assessment must be received by the FSLSO.

May 15

All FHCF assessment payments are due.

For further accounting instructions, read our tip sheet.

Headlines

FL Insurance Commissioner, David Altmaier Elected NAIC Vice President

The National Association of Insurance Commissioners (NAIC) members elected Florida Insurance Commissioner David Altmaier on Sunday to fill the vacant position of the office of Vice President effective immediately. Altmaier joins other 2019 NAIC Officers including NAIC President and Maine Insurance Superintendent Eric A. Cioppa, NAIC President-Elect and South Carolina Director of Insurance Raymond G. Farmer, and Secretary-Treasurer and Idaho Insurance Commissioner Dean L. Cameron.

Insurance Industry Use of Drone, Aerial Imagery Soared After 2018 Southeast Disasters

From the images of Hurricane Florence’s floods across North and South Carolina to Hurricane Michael’s devastation in the Florida Panhandle, insurers were able to see the impact immediately and get straight to work handling claims for their customers and gather data from the events from aerial images.

CFO Jimmy Patronis Wants AOB Fix

The Assignment of Benefits issue that has been plaguing the property insurance industry for a few years may finally be changed. During Wednesday's Associated Press Legislative Planning Session Chief Financial Officer Jimmy Patronis blamed bad actors who he says are twisting the law.

New Rule Paves the Way for Larger Flood Insurance Market

A new federal rule compelling mortgage lenders to accept both private and government-backed flood insurance policies could boost the number of policies underwritten by private insurers.

How Digitization Continues to Disrupt the Insurance Industry

Insurance agents of the future capitalize on digital tools to revamp their strategy and grow their business exponentially. From transportation to manufacturing, digitization is disrupting the way companies do business.

While insurance is slowly starting to evolve, the industry remains ripe for change. The sheer volume of data available to agents today is a departure from the way they’ve traditionally done business and a powerful new tool to harness fresh insights that can enhance marketing skills and grow their customer base.

www.fslso.com

Have questions? Contact us at 800.562.4496, option 1 or email agent.services@fslso.com.

Facilitating Compliance Through Innovative Solutions