FL Surplus Lines Service Office Statement of Diligent Effort 2006 free printable template

Florida Surplus Lines Service Office. 9th. Revision Revised 09/06. 168. STATEMENT OF DILIGENT EFFORT. Producing...

How to fill out FL Surplus Lines Service Office Statement

How to fill out FL Surplus Lines Service Office Statement of Diligent

1. Gather all required documentation related to the surplus lines policy.
2. Access the FL Surplus Lines Service Office Statement of Diligent form online or through your agent.
3. Fill in your information as the policyholder, including contact details and policy number.
4. Provide a detailed description of the insurance coverage being sought as well as the type of risks involved.
5. Document the due diligence efforts made to find coverage in the admitted market, including names of insurers approached.
6. Complete any additional sections as required by the form, ensuring all information is accurate and complete.
7. Review the filled form for any errors or omissions before submitting.
8. Submit the completed form through the designated channels, usually via mail or email, to the appropriate surplus lines office.

Who needs FL Surplus Lines Service Office Statement of Diligent?

1. Insurance agents or brokers dealing in surplus lines insurance.
2. Insurance companies looking to provide coverage for risks that are not available in the admitted market.
3. Policyholders seeking to secure surplus lines insurance for high-risk coverage needs.
4. Regulatory bodies needing to ensure compliance with surplus lines laws in Florida.

People Also Ask about

What is surplus lines of business insurance?

Surplus lines insurance protects against a financial risk that a regular insurance company will not take on. Surplus lines insurance policies are available in a variety of types for both individuals and businesses. Surplus lines insurance is generally more expensive than regular insurance because the risks are higher.

What is meant by excess and surplus lines?

Simply put, Excess & Surplus lines (E&S) is a specialty market that insures things standard carriers won't cover. The difficult or high-risk exposures in which E&S carriers specialize may range from a mobile home or a day care center to a multinational oil company.

What is diligent effort surplus lines?

When writing surplus lines business, it is the obligation of the surplus line broker to maintain a copy of the originating producer's documentation of diligent effort. The diligent effort is confirmation that coverage has been requested and declined from authorized insurers within the admitted market.

What is the meaning of surplus lines?

Surplus lines insurance is a special type of insurance that covers unique risks. It fills a gap in the standard market by covering things that most companies can't or won't insure.

What is the diligent effort matrix in Florida surplus lines?

The Diligent Effort / Disclosure Matrix was developed by the Florida Surplus Lines Service Office for the purpose of providing guidance on the diligent effort or disclosure requirement for each line of coverage, for both residential and nonresidential placements.

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What is FL Surplus Lines Service Office Statement of Diligent?

The FL Surplus Lines Service Office Statement of Diligent is a document that certifies that diligent efforts have been made to procure insurance coverage through licensed and admitted insurers before seeking surplus lines coverage.

Who is required to file FL Surplus Lines Service Office Statement of Diligent?

Insurance agents and brokers who are placing surplus lines insurance on behalf of their clients are required to file the FL Surplus Lines Service Office Statement of Diligent.

How to fill out FL Surplus Lines Service Office Statement of Diligent?

To fill out the FL Surplus Lines Service Office Statement of Diligent, the filer must provide information about the risks being insured, details of the efforts made to secure coverage from admitted carriers, and any supporting documentation that demonstrates these efforts.

What is the purpose of FL Surplus Lines Service Office Statement of Diligent?

The purpose of the FL Surplus Lines Service Office Statement of Diligent is to ensure compliance with state regulations by documenting that all reasonable efforts have been made to find insurance through licensed insurers before resorting to surplus lines.

What information must be reported on FL Surplus Lines Service Office Statement of Diligent?

The information that must be reported includes the names of the insurers approached, the reasons coverage could not be obtained from them, a description of the coverage sought, and any relevant details about the insured risk.