The recent legislative session in Tallahassee was relatively quiet, a matter some attribute to this being an election year. But even in quiet years, Florida lawmakers tend to make some noise about the insurance industry and this year was no different.
When insurance is a topic among Florida lawmakers, the surplus lines industry is typically brought into the discussions, more so than in other states.
Douglas Mang, of the law firm Mang & Santurri, P.A., who serves as general counsel for the Florida Surplus Lines Association, says there is a good reason for this. The legislature deals with difficult insurance issues and the surplus lines industry specializes in answering difficult questions.
“When there is a need, then it’s the surplus lines industry that fills that void. They have in many, many instances, at least during the time that I’ve been involved with it,” Mang told Insurance Journal. “So they should be in the mix, if for no better reason than that’s their whole purpose, to provide a market for the hard‑to‑place risk. When those issues arise, that’s where they ought to be.”
Some of what Florida lawmakers did this session could create opportunities for the surplus lines industry, whereas in other cases, their actions frustrated opportunities for the surplus lines industry.