FL| The Florida Surplus Lines Service Office (FSLSO) send E-Alert announcing that House Bill 1549, recently passed by the Florida Legislature and pending the Governor’s signature, repeals the longstanding requirement that surplus lines agents make a “diligent effort” to seek coverage from at least three authorized insurers before placing business in the surplus lines market. This change aims to reduce bureaucratic delays in securing surplus lines insurance, particularly benefiting agents handling hard-to-place risks. While the diligent effort mandate is removed, other eligibility criteria for exporting insurance to surplus lines remain intact. The bill also mandates new disclosure language on the surplus lines insurance form, informing insureds that surplus lines insurers’ rates and policy forms are not approved by any Florida regulatory agency, and that signing this disclosure implies awareness of alternative coverage options. The law is set to take effect on July 1, 2025, pending the Governor’s approval.
Home » Bulletins » FSLSO E-Alert Announces: New Florida Law Eases Access to Surplus Lines Market, Adds Disclosure Requirements