April 30, 2024
FSLSO Customer Forum Takes Atlanta
Our customer forum program has been a success, and we’re taking it back on the road. Your next opportunity to meet us in person will be in the Atlanta metro area.
Tuesday, May 7 | 12:00 PM – 3:00 PM
Atlanta Marriott Northwest at Galleria
200 Interstate North Parkway SE
Atlanta, Georgia 30339
This forum is open to all surplus lines agents and agency staff. We will discuss legislation, compliance programs, and upcoming enhancements to SLAS (Surplus Lines Automation Suite).
Doors open at 11:30 PM. Complimentary lunch and parking are included. Seating is limited, so reserve your spot today! RSVP to mchampeau@fslso.com.
Invoice Payments and Affidavits Due May 15
First-quarter 2024 invoice payments and affidavits are due Wednesday, May 15. Both should be done in SLIP.
Pay invoices:
- Invoicing tab
- Pay Invoices
If you have any questions about invoices, please contact
Accounting
accounting@fslso.com
800-562-4496, option 4.
File affidavit:
- Reports tab
- File Quarterly Affidavit
If you have questions about affidavits, please contact
Agent Services
agent.services@fslso.com
800-562-4496, option 1.
Is Your Catastrophe Contact Information Updated?
Summer is almost here, which means hurricane season is around the corner. Make sure your house is in order before hurricane season begins by filing your updated catastrophe contact information.
Updated catastrophe contact information is required to be filed by Friday, May 31.
To update your catastrophe contact information, log into SLIP and follow these steps:
- Click File Catastrophe Data under the Reports tab.
- You’ll see a question under your name asking, “Has the information below changed?”
- Review your information in the question boxes 1, 2, 3, and 4.
- If your information is correct, click the No bubble. Selecting No will automatically update your information, and no further action is required.
- If you have a change, click the Yes bubble.
- Enter the new information.
- Click the Save button on the bottom right.
If you have never submitted catastrophe contact information, complete questions 1-4 and click the Save button.
REMINDER:
Filing Supplemental Homeowners Data
The following coverages require additional details when reporting residential property policies in SLIP:
- Apartments – Commercial (1003)
- Condominium Package – Commercial (1006)
- Homeowners-HO-1 (2000)
- Homeowners-HO-2 (2001)
- Homeowners-HO-3 (2002)
- Homeowners-HO-5 (2004)
- Homeowners-HO-6 - Condo Unit Owners (2005)
- Homeowners-HO-8 (2006)
- Builders Risk – Residential (2007)
- Flood – Personal (2008)
- Dwelling Property (2009)
- Farmowners Multi-Peril (2010)
- Mobile Homeowners (2011)
- Windstorm – Residential (2012)
If you are filing policies that fall under the above coverage lines, please be sure you are entering the following fields correctly once you choose the applicable coverage.
Primary Amount (Coverage A)
The amount entered in this field should be the Coverage A or dwelling coverage amount shown on the policy declarations page.
Eligible For Wind Coverage By Citizens Checkbox
This box should be checked if the property being insured under the policy is eligible for wind coverage with Citizens Property Insurance Corporation.
All Other Perils Deductible
Enter all other perils (AOP) deductible (deductible for damage from any peril named in the policy, other than hurricane) as shown on the policy.
Wind Coverage Provided By This Policy Checkbox
This box should be checked if the policy includes wind coverage.
Hurricane Deductible
If wind coverage is included in the policy, enter the deductible amount here.
Supplemental Homeowners Data accuracy is analyzed during Compliance Reviews. Incorrectly entering or not entering the information at all may reduce your score.
Market Segment Outlook:
London Market Insurance*
AM Best is revising the outlook for the London market insurance segment to Positive from Stable, owing to the following key drivers:
- Strong pricing environment for most business lines is expected to support good underwriting profitability.
- Positive momentum of US excess and surplus (E&S) lines offers opportunities.
- Improved interest rate environment is likely to support healthy investment yield.
Factors moderating these positives include:
- Changing climate trends and unmodelled risks present exposure management challenges.
- Concerns regarding social and economic inflation in certain business lines.
*This information was published by AM Best and is not an opinion or interpretation of FSLSO.
www.fslso.com
Have questions? Contact us at 800.562.4496, option 1 or email Agent.Services@fslso.com.
