FAQs

The Premium Reconciliation program is an inspection of submitted insurer and agent/IPC policy information to find “variances and verify that all taxes, service fees, and assessments have been paid correctly.

Since its inception in 2000, the Premium Reconciliation program has been highly effective in the collection of taxes, fees, and assessments relative to unreported premium. In 2018, more than $70 million in unreported premium was identified, resulting in more than $2.5 million in taxes, fees, assessments, and penalties.

As Florida eligible surplus lines insurers and agents submit policy data to FSLSO, our system automatically "matches" information from both parties on correlating policies. Information is linked based on several factors, including policy number, premium amount, insurer name, and effective date.

As an example, Agent John Doe submits policy information on a Commercial Property policy written through XYZ Insurance Company. XYZ Insurance Company is also required by Florida Statute to file policy information regarding the Commercial Property policy written by Agent John Doe. Both parties submit policy information for the risk and is “matched” and reconciled through FSLSO’s database.