WIRE | Job Board, MFA Coming to SLIP+ & More

September 5, 2025

Want to Connect with the
Next Generation of RMI Students?

If you have entry-level openings, we want to help! FSLSO will attend the FSU Insurance Days this October, and we can help connect your organization with promising RMI students.

As part of our booth, our staff is creating an Industry Opportunities Book, and we’d love to include yours. Service is in our name, and as your service office, we’re committed to supporting you by connecting with the next generation of leaders. Simply fill out the form in the link below with your position details, and we’ll follow up with any questions.

Job Criteria:

Must be an entry-level position
Must have an online application for candidate submissions
Online application must have complete information for candidates to review

SUBMIT YOUR ROLE HERE

Multifactor Authentication is Coming to SLIP+

Beginning in September, SLIP+ will be releasing a multi-factor authentication (MFA) option for users who would like an added layer of security for their accounts.

For any questions, please contact the Agent & Insurer Services team.

Wet Marine, Transportation, and Aviation Risks

Wet marine, transportation, and aviation policies are required to be filed in FSLSO SLIP+. Even though these commercial coverages are exempt from the surplus lines tax, the Service Office fee applies to these policies, and they must be filed in SLIP+.

Boats or aircraft used solely for personal pleasure, family use, or the transportation of executives, employees, and guests of the insured are subject to the surplus lines tax and should also be filed in SLIP+.

All premium bearing transactions, whether taxable or non-taxable must be reported in SLIP+. Please refer to the Tax Status Codes table on our website.

FSLSO SLIP+ Penalties for CR, PR, PLR,
and Late Payment

We have received questions from customers regarding penalties on their quarterly invoices and billing reports. Penalties may be assessed to your account for a few reasons. Penalties assessed by our office include:

Finance Charges:

This penalty is applied for the late payment of a previous quarter’s invoice. Finance charges are assessed at an annualized rate of 9% starting the day after the due date. It is important you submit your payments on or before the due date to avoid this type of penalty.

Audit Program Penalties

If an unfiled policy/transaction is discovered during a Compliance Review, Production Ledger Review or in Premium Reconciliation, a penalty will be assessed to the transaction once it is filed in FSLSO SLIP+. All premium bearing transactions should be filed within 30 days of the effective date.

a. Compliance Review: This program ensures compliance by surplus lines agents relative to the export of surplus lines insurance contracts and includes a verification of information such as the policy premiums, tax, fee, and assessment calculations, statutorily required disclaimers, etc.

b. Production Ledger Review: This program identifies unreported premium by comparing agent production ledgers against the data filed in SLIP+.

c. Premium Reconciliation: This program compares data submitted by surplus lines agents and independently procured coverage (IPC) filers with the data being submitted by surplus lines insurers.

How do you avoid penalties? File transactions and pay invoices on time.

How to File a Multi-Insurer (Layered) Policy

Multi-insurer (layered) policies can be tricky. It is important to refer to the policy documentation to ensure they are being filed appropriately. A few key things to look out for is the premium allocation and policy number. When you file in SLIP+ please make sure that you are filing each individual insurer with their own allocated premium. You do not want to file all of the premium under just one of the insurers.

Splitting out the policy amongst the different insurers with their own premium allocation ensures that our premium reconciliation department is able to reconcile insurer filings against agent filings. Another important factor to keep an eye out for is policy numbers. Some multi-insurer policies will have only one policy number that all the insurer allocations can be filed under; however, if the policy documents show that each insurer has been assigned their own unique policy number, then each insurer’s premium allocation will need to be separately filed under their unique policy number.

For any questions, please reach out to the Agent & Insurer Services team.

AM Best Increases Three Company Ratings
from A to A+

As of August 28, 2025, three companies under the ultimate parent, Fairfax Financial Holdings Limited, have received an increased rating of excellent to superior from AM Best. All three companies were recognized for their Financial Strength Rating (FSR) and Long-Term Issue Credit Rating (ICR). The rating increases are reflected by their strong balance sheet strength, operating performance, and effective risk management. They are further supported by business profile assessment improvements, and organic growth.