Specified commercial lines within the State of Florida are affected by a new law named SB 2176. The new law excuses specified commercial lines from Florida’s rate and form filing policies. Surety and fidelity are amongst the lines for notice to the insurance department which will have to be notified of any modification within 30 days of the effective date (Use and File). Also, burglary and theft are not included in the exempted lines.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.