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SURPLUS LINES DISCLOSURE and ACKNOWLEDGEMENT At my direction, has placed my coverage in the surplus lines market. As required by Florida Statute 626.916, I have agreed to this placement. I understand
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How to fill out surplus lines disclosure and
How to fill out surplus lines disclosure and
01
Start by obtaining the necessary surplus lines disclosure form, usually provided by your state insurance department or a licensed surplus lines broker.
02
Fill out the form accurately and completely, providing all required information such as the insured's name, address, policy details, and any applicable exemption codes.
03
Ensure that the form is signed by both the insured and the surplus lines broker.
04
Submit the filled-out form to the appropriate authority, typically the state insurance department or the surplus lines stamping office.
05
Keep a copy of the completed form for your records.
Who needs surplus lines disclosure and?
01
Surplus lines disclosure is needed by insurance providers and brokers who are engaging in the placement of surplus lines insurance.
02
Also, insured individuals or businesses who are purchasing surplus lines insurance coverage may need to provide a surplus lines disclosure as part of the application process.
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What is surplus lines disclosure and?
Surplus lines disclosure is a regulatory requirement for reporting insurance transactions that involve non-admitted insurance carriers.
Who is required to file surplus lines disclosure and?
Insurance producers and brokers are required to file surplus lines disclosures.
How to fill out surplus lines disclosure and?
Surplus lines disclosures can be filled out electronically through the state's regulatory system or on paper forms provided by the state insurance department.
What is the purpose of surplus lines disclosure and?
The purpose of surplus lines disclosure is to ensure transparency and oversight of non-admitted insurance transactions.
What information must be reported on surplus lines disclosure and?
Information such as the name of the insured, insurance coverage details, premiums paid, and details of the non-admitted insurance carrier must be reported on surplus lines disclosure.
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