INSURERS' QUARTERLY FILING REMINDER
For all foreign insurers, an electronic premium report is due October 30, 2005. The quarterly report of policy information should be submitted electronically and include: policy number, effective date, premium amount and name of insured. In the event there is nothing to report, the insurer is still required to submit a "No Business" letter in lieu of the report.
According to Florida Statute 626.9361, a $500 fine per day for each day the failure continues applies to any eligible surplus lines insurer who fails to file a report in the form and within the time required as provided for in the Surplus Lines Law. This begins the day after the report was due and until the date the report is received. Failure to file a report may also result in withdrawal of eligibility as a surplus lines insurer in Florida.