News & Updates

FSLSO

Surplus Lines Tax Reduced as of July 1

Surplus Lines Tax Reduced as of July 1

The Florida surplus lines tax charged by the Florida Department of Financial Services (DFS) decreased from 5.0% to 4.94% effective July 1, 2020.  The reduction applies to all new and renewal policies with an effective date on or after July 1, 2020.  The tax applies to the total gross premium as defined in Florida Statute […]

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Surplus Lines Service Office Fee Reduction Takes Effect

Surplus Lines Service Office Fee Reduction Takes Effect

The reduction in the Florida Surplus Lines Service Office (FSLSO) service fee announced earlier this year takes effect today.  In bulletin 2016-01, the FSLSO notified surplus lines agents, surplus lines insurers and filers of independently procured coverage that the FSLSO service fees drops from 0.175% to 0.15% effective April 1, 2016.  The fee reduction applies to […]

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Surplus Lines Service Office Fee to be Reduced

Surplus Lines Service Office Fee to be Reduced

The Florida Surplus Lines Service Office (FSLSO) has informed surplus lines agents, surplus lines insurers and filers of independently procured coverage that the FSLSO service fee will drop from 0.175% to 0.15% effective April 1, 2016.  The fee reduction will apply to all new and renewal policies/certificates with effective dates on or after April 1, […]

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NIMA Adopts “Kentucky Proposal”

NIMA Adopts “Kentucky Proposal”

NIMA announced in recent days that it has adopted a premium allocation method for distributing surplus lines premium taxes on casualty insurance.  A NIMA release indicates that the newly adopted method will streamline the allocation and distribution of surplus lines premium taxes for surplus lines brokers and member states.  NIMA believes it remains on track to launch its Surplus Lines […]

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