Which statement about the Florida Surplus Lines Services Office (FSLSO) is NOT true?

Which statement about the Florida Surplus Lines Services Office (FSLSO) is NOT true?

• A. It collects taxes and service fees related to surplus lines insurance.
• B. It provides training and education to surplus lines agents.
• C. It oversees the surplus lines industry in the state.
• D. It was created by the Florida cabinet.

Answer: (D)

The Florida Surplus Lines Services Office (FSLSO) plays a significant role in the regulation and administration of surplus lines insurance in the state. The statement that it was created by the Florida cabinet is not accurate because the FSLSO was established by statute and operates under the Department of Financial Services, not directly created or overseen by the Florida cabinet. The FSLSO is tasked with vital functions, which include collecting taxes and service fees related to surplus lines insurance, ensuring compliance with state laws, and providing training and education to surplus lines agents. Such responsibilities highlight the importance of the FSLSO in overseeing and facilitating the surplus lines insurance market, ensuring that agents are well-trained and compliant with regulations. Understanding the origin and regulatory framework of the FSLSO is crucial, as it clarifies the distinction between the roles of different governmental bodies and agencies involved in insurance regulation in Florida.

The Florida Surplus Lines Services Office (FSLSO) plays a significant role in the regulation and administration of surplus lines insurance in the state. The statement that it was created by the Florida cabinet is not accurate because the FSLSO was established by statute and operates under the Department of Financial Services, not directly created or overseen by the Florida cabinet.

The FSLSO is tasked with vital functions, which include collecting taxes and service fees related to surplus lines insurance, ensuring compliance with state laws, and providing training and education to surplus lines agents. Such responsibilities highlight the importance of the FSLSO in overseeing and facilitating the surplus lines insurance market, ensuring that agents are well-trained and compliant with regulations. Understanding the origin and regulatory framework of the FSLSO is crucial, as it clarifies the distinction between the roles of different governmental bodies and agencies involved in insurance regulation in Florida.