Florida Surplus Lines Service Office - www.fslso.com

Last Ten
2013 Archives :: 2012 Archives :: 2011 Archives :: 2010 Archives :: 2009 Archives
2008 Archives :: 2007 Archives :: 2006 Archives :: 2005 Archives :: 2004 Archives :: 2003 Archives

NewsItem Archives

The purpose of this bulletin is to notify you that the service fee charged by the Florida Surplus Lines Service Office (FSLSO) will be increased from 0.1% to 0.2% effective April 1, 2013.

All new and renewal policies/certificates with an effective date on or after April 1, 2013 will incur a service fee of 0.2% of the total gross premium as defined in Florida Statute 626.9325. All new and renewal policies/certificates with an effective date prior to April 1, 2013 will incur a service fee of 0.1% of the total gross premium. The service fee percentage charged on the premium is based on the effective date of the policy; the FSLSO service fee is applicable to single state Florida policies only.

The service fee for all endorsements, audits, installments, cancellations or return of premium transactions applicable to policies/certificates effective prior to 04/01/2013 will be the same percentage as the inception date of the policy/certificate being endorsed.

EXAMPLE ONE: The service fee for a policy with an effective date of 01/01/2013 is 0.1% of the total gross premium. An additional premium endorsement to the policy with an endorsement effective date of 06/01/2013 is 0.1%. If a cancellation takes place with an effective date of 08/01/2013, the service fee credit is 0.1%.

EXAMPLE TWO: The service fee for a policy with an effective date of 04/01/2013 is 0.2% of the total gross premium. An additional premium endorsement to the policy with an effective date of 06/01/2013 is 0.2%. If a cancellation takes place with an effective date of 08/01/2013, the service fee credit is 0.2%.

Again, the service fee percentage charged on the premium is based on the effective date of the policy. For an electronic copy of the bulletin, please visit:http://www.fslso.com/publications/press/OIR/OIR.Budget.2013.pdf

Business rules for calculating the correct service fee will be programmed into the FSLSO's management system. No changes need be made for SLIP or XML batch filing, however, you may need to contact your agency's information technology vendor or staff regarding needed revisions to your agency management system that may be necessary to calculate the revised service fee.

An electronic copy of Bulletin 04-2012 is available at http://www.fslso.com/publications/press/FSLSO/FSLSO.Bulletin.2012.04.pdf.


Bookmark and Share