January 25, 2024
BATCH FILING CHANGES
Earlier this month we implemented some changes to the Batch process and onboarding processes for agents, IPC filers, and insurers. Before submitting a new Batch file, please refer to the following chart:
For further questions about Batch filing, contact batchfiling@fslso.com.
DATES TO REMEMBER
Friday, January 26: FSLSO Board of Governors quarterly meeting
Wednesday, February 14: Fourth-quarter invoice payments and affidavits due
March 3-6: WSIA Underwriting Summit
(Phoenix, AZ)
March 13-15: Florida Insurance Market Summit
(Orlando, FL)
March 15-18: NAIC Spring National Meeting
(Phoenix, AZ)
WELCOME FUTURE LEADERS
A big warm welcome to our Spring 2024 interns.
Chloe Rebelo
Chloe hales from Warren, New Jersey, and attends Florida State University, majoring in Risk Management and Insurance.
She completed an internship with Gallagher during the summer and most recently visited Lloyd’s of London as a scholarship trip recipient.
McKinley Champeau
McKinley is from Naples, Florida, and holds a bachelor’s degree from Florida State University.
She is currently a graduate student in the Risk Management and Insurance program at FSU.
We are thrilled to have these bright minds with us for the next few months.
CARRIER UPDATES
Beazley Excess and Surplus Insurance, Inc. (NAIC #: 17520) was approved by the Florida Office of Insurance Regulation as Federally Authorized.
Independent Specialty Insurance Company (NAIC #: 39640) is now Velocity Specialty Insurance Company.
American Empire Surplus Lines Insurance Company (NAIC #: 35351) is now Great American Risk Solutions Surplus Lines Insurance Company.
HEADLINES
Florida Lawmaker Proposes Solution to Soaring Insurance Rates Amid Hurricane Fallout
Representative Roach proposed HB 1213, which aims to reshape Citizens Insurance by providing universal wind coverage for every homeowner in the state.
How Solar Photovoltaic Structures Reduce Insurer Risk
Insurers are critical stakeholders in the solar photovoltaic (PV) industry. They have a compelling interest in robust and reliable solar PV systems with known risks, especially for utility-scale solar PV facilities that provide power to the grid.
Bill Mandating Coverage After Flood Damage Clears Senate Panel Despite Insurer Opposition
Legislation requiring property insurers to continue covering flood-damaged homes and businesses for 90 days after repairs are completed passed through a Senate committee over the objections of trade groups representing insurers.
New Poll Shows Floridians Still Worried About Property Insurance
The Associated Industries of Florida Center for Political Strategy survey found 21% of voters said insurance is a big problem and 23% of voters found inflation an important issue facing the state.
US Property Cat Reinsurance Rates Up 116% Since 2017
Property catastrophe reinsurance rates-on-line slowed their trajectory significant at the January 2024 renewals, but in the United States while the slow-down was a little more severe than some other regions, US property cat reinsurance rates are now a stunning 116% up since 2017, according to Guy Carpenter’s Index.
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Have questions? Contact us at 800.562.4496, option 1 or email Agent.Services@fslso.com.
