How frequently must surplus lines brokers submit reports to the FSLSO?

Surplus lines brokers are required to submit reports to the Florida Surplus Lines Service Office (FSLSO) on a quarterly basis. This requirement helps ensure that the FSLSO can adequately monitor the transactions and practices of surplus lines brokers, which operate outside of the standard insurance market. The quarterly reporting period allows regulators to stay up to date with the activities of these brokers, supporting transparency and compliance in the surplus lines insurance sector. By submitting reports every three months, brokers can provide timely information on the risks being insured and the financial standing of the policies they write, which is crucial for maintaining regulatory oversight.