FL H1227

Extends the deadline for surplus lines agents to file quarterly affidavits with the Florida Surplus Lines Service Office from the end of the following month to the 45th day following each calendar quarter.

Changes tax and service fee payment requirements for surplus lines policies covering risks only partially in Florida when Florida is the home state under the federal Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), requiring computation on gross premium rather than allocable portion.

Shifts service fee payments from monthly to quarterly (on or before the 45th day following each calendar quarter) for surplus lines agents.

Authorizes the Department of Financial Services and Office of Insurance Regulation to enter into cooperative reciprocal agreements with other states for collecting and allocating nonadmitted insurance taxes for multistate risks, with clearinghouse service fees capped at 0.3 percent of gross premiums.

Requires the department to submit an initial report to the Legislature by January 1, 2012, and annual reports thereafter regarding any cooperative reciprocal agreements, including collections, administrative structures, and tax rates.