July 24, 2017
NEW! SLIP Help Guide
If you need any assistance filing in SLIP, be sure to look for our new SLIP Help Reference Guide located in your SLIP account under the HELP tab. This guide not only assists with basic steps such as the initial setup, but also gives you instructions on how to file a layered policy or multistate risk.
We've included a section on Questioned Transactions (TIQs), explaining what each one is and how they can be corrected, and so much more. The next time you are in your SLIP account check it out. There may be a tip or two in there for you.
Again, this reference guide can be found by logging into SLIP and clicking on SLIP HELP under the HELP tab.
Filing Florida Home State Policies
As a reminder, please note that all multistate policies issued or renewed on or after June 1, 2016, and any subsequent endorsements to those policies, for which Florida is the home state should be filed with FSLSO. Pursuant to Florida Statute 626.932, Florida will continue to tax premium exposures for multistate policies at the rate of the state in which the risk or exposure is located. This information was previously issued in Bulletin: 2016-03.
Again, the only change that took place on June 1, 2016, is multistate policies where Florida is the home state, are now filed directly with FSLSO. New and renewal multistate policies with an effective date of 6/1/2016 or after should be filed in FSLSO SLIP by clicking on New Multistate Policy under the Policy tab or through XML Batch filing.
Based on recent feedback we have received, we want to reiterate that multistate policies can be filed through XML Batch. For more information regarding filing multistate policies through XML Batch, please email techsupport@fslso.com.
If you have ever filed in the Clearinghouse, please make sure you did not miss the bulletin on its discontinuation issued earlier this month. You can access the bulletin here: Bulletin 2017-01.
As always, if you have any questions, please email easy@fslso.com or call our office at 800.562.4496, Option 1.
Upcoming CE Course
Adhere & Avoid: Maintaining Compliance in Today's Regulatory Environment
This 2-Hour CE course is designed to assist surplus lines agents with staying in compliance with the rules and laws pertaining to agent compliance issues and those unique to the surplus lines industry.
This course is offered free to FSLA Annual Conference registrants and $25 to outside attendees. To register online, click here or email easy@fslso.com for more information.
Course Offering: 1065237 | Course ID: 99593
Study Method: Classroom | Course Authority: General Lines (2-20)
Provider ID: 363306 | Florida Surplus Lines Service Office
Location: Omni Amelia Island Plantation Resort | 39 Beach Lagoon Road, Amelia Island, FL 32034
Date: 8/9/2017 | 2:00pm - 4:00pm EST
This course has been approved by the Florida Department of Financial Services for insurance continuing education credit.
30-Day Filing Requirement
With new agents constantly entering Florida we thought it would be a good time to remind our members and filers all premium bearing transactions must be filed electronically with FSLSO within 30 days of the effective date of coverage.
This includes new business, renewals and endorsements. Transaction filings may be made via SLIP or XML Batch.
For additional compliance information, a great reference tool is our Agent Procedures Manual. The manual can be found on our website.
Flood Bill Extends Diligent Effort Exemption
On June 23, 2017, the Governor signed House Bill 813 into law. The bill, known as the Flood Bill, extends the exemption from having to obtain a diligent effort from the admitted market for personal lines flood policies until July 1, 2019, or until the Insurance Commissioner determines there is an adequate admitted market.
Excess personal lines flood coverage is also now eligible to be exported without the diligent effort form being completed. It should be noted that the new law still requires the agent to obtain an acknowledgement signed by the applicant acknowledging if the applicant discontinues coverage under the National Flood Insurance Program (NFIP), the full rate for flood insurance may apply to the property if the applicant seeks to reinstate coverage under the program at a later date.
The bill became law on July 1, 2017. FSLSO has posted an updated Flood Matrix on fslso.com to assist agents with the export laws of the different flood lines. If you have any questions, please email easy@fslso.com.
COMING SOON ~ August 10
Stay tuned for a very exciting product we are launching JUST FOR SURPLUS LINES AGENTS. Features will include:
- Compliance alerts/notifications
- Manage affidavit filings
- Real-time industry data
- Premium and policy statistics
LOOKING FOR SURPLUS LINES INDUSTRY DATA?
We are redesigning our MARKET DATA on FSLSO.com. New features will include:
- Fully interactive ability to slice & dice and filter information quickly
- Premium and policy statistics
- County, Insurer and Coverage filters
- Financial data for FL Eligible Surplus Lines Insurers
From our Accounting Department to Yours
As a friendly reminder, payments for 2nd quarter invoices issued in July are due by August 14, 2017. To view invoices, please log into SLIP and go to the Invoicing tab > View Invoices.
The Invoice Description column contains the links to view, print and save your invoice(s). The corresponding Billing Report containing transaction details can be accessed from your SLIP Inbox and can also be found under the Reports tab > Generate Reports. (If you’re having problems opening an invoice, please be sure that your Adobe software is up-to-date and that pop-up blockers are turned off.)
Under the Invoicing tab, you also have the ability to Pay Invoices in SLIP via ACH payments. Payments received prior to 4pm EST are posted as of the next business day. To ensure accurate and timely posting of payments, please include a copy of your invoice if remitting checks to our office. If you have any questions or need further assistance, please email accounting@fslso.com or call 800.562.4496, Option 4.
