Florida Surplus Lines Service Office Board of Governors Reviews Finance, Strategy Plans for 2011
Jan 19, 2011
The Florida Surplus Lines Service Office (“FSLSO”) Board of Governors (“Board”) met today, January 19, 2011, during which it reviewed the FSLSO financial report and strategic plan options for 2011. Meeting materials are attached for review.
FSLSO Chairman David Holcombe and FSLSO Executive Director Gary Pullen led the meeting. Among those in attendance were Florida Office of Insurance Regulation General Counsel Steve Parton and Florida Insurance Consumer Advocate Terry Butler.
In his report, Mr. Pullen graded the effectiveness of the FSLSO’s efficiency measures as “100 percent.” Capital productivity in relation to compliance revenue and operating expenses is in “great shape,” with every $1.00 spent yielding $1.80 in return, notwithstanding the FSLSO’s overall loss of 41 percent, he explained.
Mr. Pullen reviewed the FSLSO’s 2011 objectives, including a revised strategic plan from 2011 through 2013, which were ultimately adopted by the Board during today’s meeting.
The Board approved the FSLSO financial report.
It also reviewed the FSLSO’s new “Let Us Help You Meet Your 2011 Compliance Resolutions” campaign, which will be featured in publications and on the FSLFO Web site to ensure stakeholders are aware of available options to resolve compliance issues.
Board members were updated on the development progress of the Surplus Lines Information Portal, which allows multi-state policies to be filed by an agent.
The next FSLSO Board Meeting is scheduled for April 18, 2011 at 1:00 p.m., to be followed by the 11th annual Dale Pullen Golf Tournament April 19, 2011 at the Southwood Golf Club in Tallahassee.
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