The Wire: Fall Customer Forum Recap

September 13, 2024

Fall Customer Forum Recap

The FSLSO team visited Fort Lauderdale for the Fall Customer Forum this week.

There was no shortage of conversation as we reviewed trends in the industry and shared market insights. A group discussion featured several filing matters, including:

Layered policy filings,
Marine risks, and
What effective date should be used when reporting in SLIP.

Many participants inquired about FSLSO’s Compliance Review program process and timeline. These questions are why we host forums — to keep our members as informed as possible.

Special guest speaker Fred Karlinsky, a longtime insurance legal expert, gave an informative presentation on the political landscape, upcoming elections, and new laws impacting the E&S sector.

As a bonus, participants also benefited from a continuing education course with Kevin Amrhein of Florida Insurance School Continuing Education, Inc. (FISCE) during the second half of the forum.

Thank you to Fred Karlinsky, Kevin Amrhein, and all the attendees for taking time out of your busy day to engage with us.

Layered Policy Filing Guidelines

When filing a layered policy, remember to allocate the premium to the appropriate insurers and pay close attention to the policy numbers.

Policy Number is the SAME
for All Insurers

If the policy number is the same for each insurer, agents will use the same policy number for the entire risk. However, the appropriate amount of premium allocated to each insurer must be broken out.

Policy Number is DIFFERENT
for Each Insurer

If each insurer is assigned different policy numbers for each layer of the policy, filers must submit each policy separately under the appropriate policy number.

Filing the policy number and premium allocation under the correct insurer is an essential step in the filing process, as FSLSO Premium Reconciliation staff will require the filer to break out the premium to match what the insurer has filed if it is reported incorrectly.

Remember to pay close attention to the policy number(s) and premium allocation and file it exactly as it appears on the declarations page. If you have questions about filing layered policies, contact FSLSO’s Agent & Insurer Services department at 800-562-4496, option 1, or email agent.services@fslso.com.

Third-Quarter Invoices Coming Soon

FSLSO will be processing invoices for the third quarter on October 1. To prepare, we recommend reviewing your SLIP account to ensure everything is in order and filed by September 30.

Verify your billing contact is the correct person and review your files to ensure all your transactions were submitted accurately. If you have any outstanding TIQs, now is an excellent time to resolve them.

PRO TIP: Run a transaction report and TIQ report. Use the Reports tab and click Generate Reports.

Select Transaction or Transactions in Question from the drop-down menu.

Select the appropriate date period.
Click Print.
The report will download to your computer.

Don’t forget to consult your Compliance Checkup dashboard for other unresolved issues.

Check Payments

The mailing addresses for those paying by check have changed.

Remittance Address:
FLORIDA SURPLUS LINES SERVICE OFFICE INC
P.O. Box 532301
Atlanta, GA 30353-2301

Overnight Address:
BMO Lockbox # 532301
100 Southcrest Drive
Stockbridge, GA 30281

ACH Payments

For those paying electronically via ACH, the company IDs have changed.

Florida Surplus Lines Service Office (FSLSO)
FL01 FSLSO
Company Name: FLORIDASP
Company ID: 1800749868

Florida Department of Financial Services
FL02 DFS
Company Name: FLORIDASP
Company ID: 1272818119

Florida Division of Emergency Management
FL03 DEM
Company Name: FLORIDASP
Company ID: 2800749868

Please update your records accordingly.

HEADLINES

FSLSO Named in ‘Best Places to Work’ in the Insurance Industry

FSLSO has been recognized as one of the Best Places to Work in the insurance industry by Business Insurance Magazine for 2024! This award is a testament to our commitment to fostering a positive and supportive work environment for our team. We're honored to be among such distinguished companies.

Citizens to Shift Up to 648,000 Policies to Private Insurers Starting Next Month

Florida’s overburdened insurer of last resort is lightening its load. Citizens now has more active policies than it did when lawmakers approved a depopulation program in late 2022.

Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging

Florida Gov. Ron DeSantis urged lawmakers to weigh ideas on providing condominium owners with relief ahead of a Jan. 1 deadline that requires condo buildings to be inspected and repaired in the wake of the Surfside condo collapse that killed 98 people in 2021.