Florida surplus lines News

Florida Announces Exit from Multi-State Surplus Lines Clearinghouse NIMA

The Florida Surplus Lines Office (FLSLO) has announced that Florida has made the decision to withdraw from the Nonadmitted Insurance Multi-State Agreement (NIMA), effective June 1, 2016. The decision marks the second state to leave the Agreement, with Louisiana previously …

Florida Opens, Closes Surplus Lines Opportunities

The recent legislative session in Tallahassee was relatively quiet, a matter some attribute to this being an election year. But even in quiet years, Florida lawmakers tend to make some noise about the insurance industry and this year was no …

Florida House Nixes Shifting Citizens Policies to Surplus Lines

The Florida House has rejected a proposal that could shift homeowners away from the state-backed Citizens Property Insurance and into private surplus lines insurers. The Florida Senate last week narrowly voted for a property insurance bill that would allow homeowners …

Surplus Lines Insurers Could Pick Up Citizens Policies Under Senate Bill

Homeowners seeking coverage from Citizens Property Insurance could wind up getting policies from out-of-state insurers that are exempt from many of the state regulations other insurers must honor. The Florida Senate on Friday voted 22-16 for a property insurance bill …

Florida Bill to Let Surplus Lines Assume Citizens Policies Advances

Legislation designed to help state-backed Citizens Property Insurance Co. spin off customers to reduce its hurricane risk cleared the Florida House after a heated debate Friday. The bill (HB 245) would let surplus lines companies, which have unregulated rates, take …