Ch 8: Florida Statutes the surplus lines law
Any licensed surplus lines agent who neglects to pay the taxes or service fees as required under the Surplus Lines Law and within the time due may be fined up to $_____ per day for each day the failure to pay continues, beginning the day after the taxes or service fees were due. 50 250 1,000 500
500 Florida Statute 626.9361 (part 1)
Miscellaneous laws section
60-80
Florida Statute 626.921 (part 5)
All Florida surplus lines licensees are required to comply with the Plan of Operation, as approved by the OIR, and the Florida Surplus Lines Service Office Agent Procedures Manual, as approved by the DFS
Florida Statute 626.9361 (part 1)
An eligible insurer who fails to file reports as required by the Surplus Lines Law is subject to a maximum daily fine of $500
Florida Statute 626.910
The civil penalty for aiding an unauthorized insurer is up to $1,000 per non-willful violation and $10,000 for each willful violation
Florida Statute 626.581
regards to commissions contingent upon adjustment savings and the prohibition thereof it's against the law to pay claims out of an agent's commission
Florida Statute 626.611
17 reasons that constitute grounds for refusal, suspension, or revocation of a license - lack of qualifications - material misrepresentation - failure to pass the required exam - if the license or appointment is willfully used to circumvent the requirements or prohibitions set forth in statute - willful misrepresentation of any insurance policy or annuity contract - material misrepresentation to an insured or other interested party of the terms and coverage of the contract with the purpose of settling a claim for less favorable conditions than those provided for in the contract - demonstrated lack of fitness or trustworthiness - demonstrated lack of knowledge and technical competence - fraudulent or dishonest practices in the conduct of business - misappropriation of funds - unlawfully rebating or unlawfully dividing commissions - use of a license for soliciting controlled business as defined in 626.730, F.S. - willful violation of Department Rule, Order or Florida Statute - having been found guilty or pleading guilty to a felony or crime punishable by imprisonment of one year or more in any state or federal court - aiding or abetting any person in fraudulent practices relating to workers' compensation insurance - sales of unregistered securities - dishonest practices in the sales of viaticals
unfair trade practice statutes
626.9521 626.9541
Florida Statute 626.9272 (part 2)
A non-resident surplus lines license may be obtained if the agent holds a general lines and surplus lines license in their home state. They are required to meet the same licensing requirements as a Florida resident agent. A non-resident agent's authority is limited to the same lines as granted in the agent's home state
Florida Statute 626.923
A surplus lines agent has 30 days to respond to a requeset for information made by the Florida Department of Financial Services or the FSLSO
Florida Statute 626.935
Addresses the suspension, revocation or refusal of a surplus lines agent's license by the DFS. reasons include - removal of agent's office from the licensee's state of residence - removal of accounts and records during the 5 year retention requirement - closure of an agent's office for more than 30 consecutive days - failure to file an affidavit - failure to remit taxes or fees - the suspension - revocation or surrender of a general lines, service representative, or MGA license - general lack of qualifications for an original surplus lines license - violations of the surplus lines law - any cause which could suspend, revoke or refuse a general lines agent's license
Florida Statute 626.9372
An insurer issuing liability insurance in Florida is required to disclose to a claimant, after receiving a written request, the name of the insurer, name of each insured, limits of liability, statement of any policy or coverage defense and a copy of the policy within 60 days. If request is made to an insured or their insurance agent, they must forward the request to each insurer who will have 60 days from receipt of the request to provide the info
Florida Statute 626.903
An unauthorized insurer cannot bring suit in this state to enforce any right, claim, or demand arising from an insurance transaction in this state
Florida Statute 626.9295
Any surplus lines agent who is an officer, director, stockholder or employee of an incorporated surplus lines insurance agency shall remain personally and fully liable and accountable for any wrongful acts, misconduct, or violations of any provisions of this code committed by such licensee or by any person under his or her direct supervision and control while acting on behalf of the corporation
Florida Statute 626.930
As a surplus lines agent you are required to keep 5 years of records open to inspection, without notice, by the FSLSO or the Florida Department of Financial Services at your place of business. The records must be maintained for 5 years after the expiration or cancellation of the contract
Florida Statute 626.924
As a surplus lines agent, you are to provide the following info on the declarations or cover page of any policy, certificate, cover note, or other confirmation of insurance: the surplus lines agent's name, address and Florida license number; the retail agent's name and address; the Florida Insurance Guaranty Act disclosure statement; and the rates and forms disclosure
Florida Statute 626.918 1
Assets or securities held by the state as required 626.918, F.S are not subject to levy or judgement by any creditor or claimant
Bob, a surplus lines agent, was competing for an account. It was determined that if Bob could absorb the tax and service fee on the account, he would become more competitive and, therefore, able to get the account. How does the surplus lines law address this situation? Bob may pay the tax and service fee for the insured in order to obtain the account. Bob cannot pay the tax and service fee, however, he can reduce his commission to the portion of the tax. Bob is prohibited from absorbing the tax and service fee for any reason or rebating all or any part of the tax, service fee or his commission. Bob may waive the tax and service fee but not the policy fee.
Bob is prohibited from absorbing the tax and service fee for any reason or rebating all or any part of the tax, service fee or his commission. Florida Statute 626.932
Florida Statute 626.936
Failure to submit the surplus lines agent quarterly affidavit on time may result in up to a $50 per day administrative penalty imposed by the DFS. Delinquency in regards to paying taxes or fees may result in up to a $500 per day fine
Florida Statute 626.916 (part 4)
Florida Statute 626.916(4) dictates the filing surplus lines agent may charge a reasonable fee per policy certified for export and the fee must be itemized separately to the customer before purchase and enumerated in the policy
Florida Statute 626.921 (part 1)
Florida Statute 626.921 created the nonprofit association known as the FSLSO. FSLSO is a self-regulating, organization whose charge is to promote orderly access to the non-admitted market, provide advice to consumers, surplus lines agents, insurers and government agencies while protecting the revenue of the state of Florida
Florida Statute 626.916 (part 2)
If a class of insurance is deemed unavailable in the the admitted market by the Financial Services Commission, they have the authority to make that class eligible for export
Florida Statute 626.551
If you change either your name ir address you have to notify the department (DFS) within 30 days of the change. this includes but is not limited to changes in email address, contract telephone numbers and street address. failure to notify the DFS may result in a fine of up to $250 for the first occurrence and at least $500 or suspension or revocation of license for subsequent offenses
Florida Statute 626.911
In the event an unauthorized insurer or representative fails to pay the terms of the contract within 30 days of commencing legal action, the judge may allow the plaintiff to recuperate a reasonable attorney's fee
Florida Statute 626.926
In the event coverage is bound by either an unauthorized insurer or their authorized representative, and premium was accepted by the agent, the insurer is liable for any claims and return of unearned premium regardless of whether the surplus lines agent is indebted to that insurer or not
Florida Statute 626.915
In the event coverage is not available in the admitted market, it may be written on a surplus lines basis if the following conditions are met 1. The coverage is eligible for export, 2. The unauthorized insurer is eligible, 3. The coverage is placed through a Florida licensed surplus lines agent, and 4. All other applicable provisions of the Surplus Lines Law are met.
Florida Statute 626.916 (part 3)
In the event the coverage is placed pursuant ot 626.916(2), F.S., which makes the coverage eligible for export without a diligent effort search, the insurance must be placed through a surplus lines agent licensed in Florida, the insurer must be eligible under 626.918, F.S. and the retail agent is to obtain a disclosure statement from the insured. This also applies to insurance related to the indemnity of deductibles for property insurance and insurance subject to 627.062(3)(d)1, F.S.
Florida Statute 626.921 (part 3)
Provides for the functions of the FSLSO these include but are not limited to: the recording and reviewing of all surplus lines policies or documents, preparation and delivery of a quarterly report to each member, the collection and remittance of surplus lines tax, the reconciliation of policies submitted by agents against those reported by insurers, the collection of a service fee not to exceed three tenths of one percent and the performance of other acts that facilitate and encourage compliance
Florida Statute 626.912
Reinsurance, exportable coverage (wet marine and transportation, commercial aircraft, or railway insurance risks), property with a permanent situs outside of Florida and contracts issued pursuant to the Surplus Lines Law are exempt from the provisions set forth in Florida Statutes 904 through 626.904 through 626.911
Florida Statute 626.921 (part 2)
Stipulates that all surplus lines licensees in Florida are members of teh FSLSO. Furthermore, all businesses exported to the surplus lines market which bears premium must be reported to the FSLSO
Florida Statute 626.931
Surplus lines agents that have transacted business are required to file with the FSLSO an affidavit of all business transacted on a quarterly basis.This is submitted electronically through SLIP. This affidavit must be completed by the 45th day after the end of a calendar quarter. Foreign insurers are required to file a report of all surplus lines business transacted after the end of each calendar quarter. Alien insurers are required to file a report of surplus lines business transacted on an annual basis each year with the service office.
Florida Statute 626.906
The CFO (Chief Financial Officer) of the state of Florida is named the true and lawful agent for any unauthorized insurer or person representing an unauthorized insurer subject to the jurisdiction of Florida. Service of process on the Florida CFO has the same legal force as service of process would have on either an unauthorized insurer or person representing such an entity
Florida Statute 626.921 (part 4)
The FSLSO is operated under the supervision of a board of governors. The board consist fo 5 surplus lines agents who are members of the Florida Surplus Lines Association, two surplus lines agents from the 2 largest domestic agent's associations and a risk manager for a large domestic commercial enterprise - all of whom are appointed by the DFS In addition to the departmental appointments, the Florida Insurance Consumer Advocate is also a board member
Florida Statute 626.919
The OIR may withdraw eligibility of any insurer who the office believes is the insolvent or in unsound condition. They may revoke eligibility of any unauthorized insurer who fails to make prompt payment of just claims in Florida. Eligibility may also be withdrawn in the event an insurer is no longer eligible pursuant to 626.918,F.S. or if the OIR determines an insurer is willfully violating the laws of Florida or rules set forth by the commission
Florida Statute 626.932
The state of Florida levies a 4.94% premium tax on all gross premiums charged for surplus lines coverage. This tax is collected by the surplus lines agent from the insured. The agent is prohibited from absorbing the tax on behalf of the insured. It's the responsibility of the agent to forward the taxes to the FSLSO. In the event of delinquent payment, the interest penalty is 9% compounded annually. This section doesn't apply to the exportable lines covered in 626.917, F.S. or to state, county, municipal governments or their agencies. Premium is also defined in 626.932(6), F.S. Premium includes any assessment, membership, policy, survey, inspection, service or similar fee charged in consideration for the insurance contract. The FSLSO service fee is not considered part of the premium for taxation purpose
Florida Statute 626.916 (part 1)
The statute also states deductible amounts should be similar to those available under similar policies in use by admitted insurers. The insured must sign or otherwise provide documented acknowledgement of a disclosure in substantially the following form: "You are agreeing to place coverage in the surplus lines market. Coverage may be available in the admitted market. Persons insured by surplus lines carriers are not protected under the Florida Insurance Guaranty Act with respect to any right of recovery for the obligation of an insolvent unlicensed insurer." If the notice is signed by the insured, the insured is presumed to have been informed and to know that other coverage may be available, and with respect to the diligent effort requirement under subsection (1), there is no liability on the part of, and no cause of action arises against, the retail agent presenting the form.
Florida Statute 626.9325
The surplus lines agent is responsible for collecting the service office fee, which they're not allowed to absorb. This section does not apply to state, county, municipal governments or their agencies. In the event the service office fee is delinquent the agent will be responsible for a 9% interest penalty compounded annually.
Florida Statute 626.916
There are certain requirements that must be met before coverage may be exported. In order to place business in the non-admitted market, a diligent effort is required to be performed by the retail agent and coverage for the risk must not be procurable in the admitted market. The surplus lines agent has the responsibility of verifying the retail agent's diligent effort search. Of equal importance is that coverage may not be exported for the purpose of obtaining a lower premium or more favorable contracts as would have been available from the admitted market.
Florida Statute 626.929
This statute provides the authority for a surplus lines agent to accept business from a Florida general lines agent who is appointed and licensed for the type of insurance being procured. The general lines agent must not knowingly misrepresent to the surplus lines agent any material fact that would affect the export of coverage
Florida Statute 626.9201
This statute references the notice of cancellation or non-renewal. 45 days advance written notice is required for non-renewal and cancellation. However, the statute does not apply if the insurer has shown a willingness to renew the policy. A 10 day written notice of cancellation is required for non-payment of premium. Whenever issuing a written notice of non-renewal or cancellation, the reason for non-renewal or cancellation must be included in that notice. Furthermore, during the first 90 days of a policy, cancellation may be issued with 20 days advanced written notice if the cancellation is for reasons other than non-payment. of premium. When a cancellation is due to material misrepresentation or the failure to meet underwriting requirements, no advance notice is required.
Florida Statute 626.927
To get a surplus lines license, an agent must be a general lines agent, have a minimum of one year's experience working under a surplus lines licensee or complete a 60-hour pre-licensing course approved by the DFS and successfully pass a written surplus lines examination given by the department upon licensure, the agent is required to self-appoint with the department within 48 months or they will forfeit their license
Insurance coverage of wet marine and transportation risks, or aviation risks, including airport and products liability incidental thereto and hangarkeepers liability, may be exported under the following conditions: the insurance must be placed only by or through a licensed Florida surplus lines agent and the insurer must be made eligible by the OIR office to write such coverages, based upon information furnished by the insurer and indicating that the insurer is able to meet its financial obligations.
True Florida Statute 626.917
Florida Statute 626.908
Unauthorized insurer involved in a court action will either produce a certificate of authority, or make a deposit with the clerk of court in an amount st by the court as sufficient to pay any final judgement court may, at its discretion, dispense with the deposit or bond requirement based on the unauthorized insurer providing evidence of financial viability in another state
Florida Statute 626.917
Wet marine, transportation, and aviation risks as defined in 624.607(2), F.S. are eligible for export as long as the coverage is obtained through a licensed Florida surplus lines agent and is placed with an eligible insurer. This does not apply to boats or aircraft used for personal use or the transportation of executives, employees and and guests of the insured.
Florida Statute 626.925
When a policy is obtained in the non-admitted market, through the process set forth in statute, the policy is fully valid and enforceable with the same effect as any like contract obtained from the admitted market
Florida Statute 626.661
Your license is the property of the state of Florida. As such, upon suspension, revocation, refusal to renew, failure to renew, expiration or other termination, the license is no longer in force.
Florida Statute 626.922
a policy, certificate, cover note, or other confirmation of insurance has to be delivered to the insured within 60 days after coverage commences. Document must be countersigned by the surplus lines agent and will reflect the description and location of the subject of insurance, coverage, conditions and terms of teh contract, the premium charged and taxes collected from the insured. The policy, certificate, cover note or other confirmation of insurance has to also show the name and address of the insured and insurer. If the risk is assumed by more than one insurer, the document must state the name and address and proportion of the risk assumed by each insurer
Florida Statute 626.939
all parties involved in the placement of non-admitted business, including the insured, will provide the DFS or the department's representative, copies of all policies and other documents related to the coverage obtained. Failure to do so may result in a fine up to $500
Florida Statute 626.938
an insured involved in IPC transaction is required to remit to the FSLSO the applicable taxes, fees and assessments. DFS has the authority to bring civil action against any IPC filer who fails to remit taxes, fees and assessments. The delinquent tax penalty for IPC filers is 6% compounded annually. IPC is not to be used to circumvent the surplus lines agent licensing laws
Florida Statute 626.9374
any personal lines residential property insurance policy that has a separate wind or hurricane deductible must include, in 14-point bold face type, the following statement: THIS POLICY CONTAINS A SEPARATE DEDUCTIBLE FOR HURRICANE OR WIND LOSSES, WHICH MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU. also requires that any personal lines residential property policy containing a coinsurance clause include, in 14 - point bold face type, the following statement: THIS POLICY CONTAINS A CO-PAY PROVISION THAT MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU.
Florida Statute 626.381
appointments renew on a biennial basis in the birth month of the licensee. Any applicable renewal fees and taxes are payable at the time of reappointment
Florida Statute 626.621
concerns grounds for discretionary refusal, suspension, or revocation of an agent's, adjuster's, customer representative's, service representative's or managing general agent's license or appointment - cause which would have resulted in license refusal if known to the DFS (department) - violation of code or law pertaining to the business of insurance - violation of an order or rule of the department, the office, or the commission - willful overinsurance of any property or health insurance risk - cheating on an examination for licensure
Florida Statute 626.561
concerns the reporting and accounting for funds. An agent or agency must keep funds received in a fiduciary capacity in a separate bank account as long as those funds were related to an insurer for whom the agent is not appointed with the exception of a surplus lines insurer.These funds need to be kept in a separate account to allow the DFS or OIR to properly audit such funds. The licensee in the applicable regular course of business shall account for and pay the same to the insurer, insured or other person entitled to the funds. In addition, the licensee shall keep and make available to the department or office books, accounts, and records that will enable the department or office to determine whether the licensee is in compliance with the provisions of the code. Every licensee shall preserve books, accounts and records pertaining to a premium payment for at least 3 years after payment
Florida Statute 626.9541
deals with unfair methods of competition and unfair or deceptive acts or practices. examples of unfair methods of competition and unfair or deceptive acts or practices: - misrepresentation - boycott - coercion or intimidation - false statements including written entries - issuing or promising stock a an inducement to purchase coverage - unfair discrimination - unlawful rebates - inducing or rebating premium - material misrepresentation on an insurance application - material omission in regards to life, health, or Medicare supplement policies - advertising gifts worth more than the amount stated in the statute - free insurance - illegal dealings in premiums - excess or reduced charges for insurance - falsely submitting claims - churning, twisting and sliding
Florida Statute 626.9521
establishes the penalties assessable for unfair methods of competition or unfair or deceptive acts or practices involving the business of insurance. any non-willful violation by a person is subject to a penalty of up to $5,000 per occurrence. any willful violation by a person is subject to a penalty of up to $40,000 per occurrence. Non-willful violations by an insurer are subject to a penalty of up to $200,000 aggregate. note that when the violation includes an agent twisting or churning, the maximum administrative penalty increases to $75,000 for willful acts. This higher penalty maximum also applies to submitting fraudulent signatures on an application or policy related document
Florida Statute 626.902
in the event a Florida licensed insurance agent asssists in the transaction of businesss with an unauthorized insurer, 626.902, F.S states such action is a third degree felony and a subsequent violation is a second degree felony. penalties apply to those who do not hold an insurance license as well.
Florida Statute 626.9271 (part 1)
in the event of an agent's death, call to military service, illness, or any other physical or mental disability, a temporary license valid for four months may be issued by the DFS to a member of the agent's family, an employee, a business associate or personal representative There may not be another surplus lines licensee in the same office for a temporary license to be issued. The application for the temporary license and appointment must be made by the applicant
Florida Statute 626.937
in the event service of process is required against an unauthorized, eligible insurer the procedure is the same as that outlined for authorized insurers a part of the eligibility process an insurer goes through requires them to appoint, irrevocably, the CFO as their agent for service of process. The insurer must also provide a point of contact with the DFS for service of process
Florida Statute 626.914
key definitions of terms used in both statute and industry surplus lines agent: inidividual licensed to handle the placement of insurance with unauthorized insurers eligible surplus lines insurer: unauthorized insurer, which has been made eligible by the OIR To export: place business with an unauthorized insurer pursuant to the Surplus Lines Law Diligent effort: seeking coverage and receiving rejections from at least 3 authorized insurers currently writing the subject coverage in the state of Florida However, if a residential structure has a dwelling replacement cost of $700,000 or more, diligent effort is defined as obtaining at least one admitted market declination
Florida Statute 626.641
maximum period in which a suspension may last is 2 years. licensees subject to revocation may apply for another license after 2 years. in the event a license holder is subject to 2 separate revocations, their license will be revoked without the ability to reapply. furthermore, any revocation as the result of solicitation or sale of insurance to a person 65 or older will result in permanent revocation
Florida Statute 626.904
names sections Florida Statute 626.904- 626.912 the "Unauthorized Insurers Process Law"
Florida Statute 626.591
penalty for violation of 626.581, F.S. may include the suspension or revocation of the license in the case of an agent or the suspension or revocation of an insurer's certificate of authority in the case of an insurer. Minimum suspension period is 6 months
Florida Statute 626.907
pertains to decree pro confesso, (failure to answer) service of process steps are followed per the laws of Florida, and the defendant fails to answer, a judgement by default may be entered judgement is not in effect until after 30 days from the filing of an affidavit of compliance by the plaintiff
Florida Statute 626.9641
policyholders bill of rights is contained in Florida Statute 626.9641 provides policyholder the right to competitive pricing; the right obtain comprehensive coverage; the right to accurate and balanced insurance advertising; the right to an insurer that is financially stable; the right to a competent and honest agent; the right to a readable policy; the right to an insurer that provides economic delivery of coverage and practices loss prevention; and the right to a balanced and positive regulationi by the DFS, OIR and Financial Services Commission
Florida Statute 626.9371
premium payments may be made via cash, check, money order, debit card, credit card, electronic funds transfer or payroll deduction. Claim payments may be made by cash, checks, drafts, or money orders. Claim payments may also be issued by debit card or electronic funds transfer if first authorized, in writing, by the claimant or their representative and all fees or costs involved are disclosed
Florida Statute 626.918
process in which an unauthorized insurer becomes eligible begins with the insurer proving they are authorized in their state or country of domicile and have been for a period of at least 3 years. They also have to provide the OIR with their current annual financial statement in English and represented in US dollars. A surplus requirement of at least $15 million is required. In the event an insurer requesting eligibility is an alien insurer, a trust fund in the US must be established with a minimum of $5.4 million. The OIR is required to publish a list of all eligible surplus lines insurers.
Florida Statute 626.901
prohibits representation of an unauthorized insurer of particular note is subsection (2) which holds the individual who solicited or placed the insurance liable for the full amount of any claim that is not paid by an unauthorized insurer as the agent you should always verify the eligibility of an insurer prior to placing coverage for any insured
Florida Statute 626.9362 (part 2)
provides authorization for the DFS and the OIR to enter into a reciprocal agreement with another state or group of states. This section is pursuant to the Nonadmitted and Reinsurance Reform Act (NRRA) of 2010
Florida Statute 626.909
provides clarification concerning right of service of process. The right is not restricted to beneficiaries and insureds. This right is also held by the OIR office or the Department of Finance (DFS) department. In addition, the act of transacting business as an unauthorized insurer or representative is deemed to be consent to the jurisdiction of the office or department. The Secretary of State is the lawful attorney for service of process when the department or office is initiating lawsuit. Nothing in this section shall apply as to surplus lines insurance when written pursuant to the Surplus Lines Law, ss. 626.913.937
Florida Statute 252.372
provides for collection of the Emergency Management Preparedness and Assistance Trust Fund Surcharge. the surcharge is $2,00 for certain residential property exposures and $4.00 for certain commercial property exposures. This surcharge is remitted to the FSLSO and is not considered premium when calculating the premium receipt tax or the service fee
Florida Statute 626.905
purpose of the "Unauthorized Insurers Process Law". This statute clarifies the jurisdiction of Florida's courts in regards to unauthorized insurers. A substitute service of process is established for unauthorized insurers. This statute recognizes that the business of insurance is subject to the laws in several states pursuant to Publication L, Number 15, of the 79th congress of the United States, Chapter 20, 1st Session, Section 340 as amended
The surplus lines agent may charge a ____ policy fee for each policy certified for export. $25 reasonable $50 $35
reasonable Florida Statute 626.916 (part 4)
Florida Statute 626.681
regards administrative fines when placed in lieu of, or in addition to, the suspension revocation or refusal of a license, appointment or the disapproval thereof. A licensee is subject to an administrative penalty that will not exceed $500 for non-willful actions. the licensee is also subject to an administrative not to exceed $3,500 for willful actions. agency licenses are subject to an administrative penalty not to exceed $10,000. The statute provides up to 30 days, at the department's discretion, to pay any applicable fines
The ___ must have proper documentation of non-availability, or documentation that particular policy terms or conditions material to the insured cannot be obtained from insurers authorized to transact business in this state. retail agent surplus liens insurer admitted insurer wholesale agent
retail agent Florida Statute 626.916
Florida Statute 626.934
says that sections 626.561, titled Reporting and Accounting for Funds, 626.581, titled Commissions Contingent Upon Adjustment Savings; Prohibition and 626.5591, titled Penalty for Violation of Statute 626.581, apply to surplus lines agents
surplus lines law
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Florida Statute 626.933
states any delinquent taxes and fees will be recoverable in a suit brought by the DFS against the surplus lines licensee
Florida Statute 626.651
stipulates that a suspension or revocation against one type of license will be applicable to all licenses held
Florida Statute 626.913
stipulates that the Surplus Lines Law is comprised of Florida Statutes 626.913 through 626.937. Independently procured coverage (IPC) is not subject to the Surplus Lines Law. It's addressed in separate statute. This statute also exempts surplus lines insurance from Chapter 627 of Florida Statutes unless specifically referenced
Florida Statute 626.973
the insured or beneficiary is entitled to reasonable compensation for their attorney's fees from a surplus lines insurer from whom they have been awarded a judgement or decree from the court
Florida Statute 624.607 (2)
wet marine and transportation insurance includes - insurance upon vessels - crafts and hulls - marine builders risk - war risk - contracts of marine protection and indemnity - insurance of personal property and interests therein - in the course of exportation from or importation into any country, including transportation by land, water, or air from point of origin to final destination while being prepared for and while awaiting shipment - during any delays, storage, transshipment, or reshipment incident thereto
Florida Statute 626.536
within 30 days after the final disposition of administrative action taken against a licensee by a governmental agency or other regulatory agency in this or any other state or jurisdiction relating to the business of insurance, the licensee must submit a copy of the order, consent to order, or other relevant legal documents to the DFS