Statement of Diligent Effort Template - Florida Surplus Lines Service Office - Florida

The Statement of Diligent Effort Template is used by the Florida Surplus Lines Service Office in Florida. It is a document that outlines the efforts made by insurance brokers in attempting to get coverage from licensed insurers before placing coverage with a surplus lines insurer.

The statement of diligent effort template is filed by the Florida Surplus Lines Service Office in Florida.

FAQ

Q: What is the Florida Surplus Lines Service Office?
A: The Florida Surplus Lines Service Office is an organization in Florida that regulates the surplus lines insurance market.

Q: What is surplus lines insurance?
A: Surplus lines insurance is coverage for risks that cannot be insured by traditional insurance companies.

Q: Why do I need surplus lines insurance?
A: You may need surplus lines insurance if you have a unique or high-risk insurance need that traditional insurers are not willing to cover.

Q: What is a diligent effort?
A: A diligent effort is the process of attempting to obtain coverage from traditional insurers before turning to surplus lines insurance.

Q: Who is responsible for making a diligent effort?
A: The insured party or their insurance agent is responsible for making a diligent effort.

Q: What should be included in a diligent effort?
A: A diligent effort should include documentation that traditional insurers have been approached and either declined or cannot provide the desired coverage.

Q: Is a diligent effort required by law in Florida?
A: Yes, a diligent effort is required by law in Florida before obtaining surplus lines insurance.

Q: What happens if a diligent effort is not made?
A: Failure to make a diligent effort may result in penalties or the inability to obtain surplus lines insurance.