Florida Surplus Lines Service Office Budget Committee: Fees to Remain the Same
Sep 18, 2009
On September 15, 2009, the Florida Surplus Lines Service Office (“FSLSO”) Board of Governor’s Budget Committee (“Committee”) held a conference call to discuss its proposed 2010 budget. The meeting agenda and materials are attached.
FSLSO Executive Director Gary Pullen led the discussion, during which it was resolved that surplus funds would be used to offset a budget deficit of approximately $2 million. Thus, the FSLSO service fees will remain the same.
Significant discussion took place regarding budget items related to software programming upgrades, maintenance, quality assurance and support. The cost of the proposed upgrades totaled over $1.3 million. These included improvements to the following:
- MAS 500 Accounting Software
- Regulatory Administration Platform of Insurance Data (RAPID) overhaul
- Lloyd’s Variance application
- Interest Penalty Calculator application overhaul
- Batch Submissions through the Surplus Lines Information Portal (SLIP)
- Independently Procured Coverage Application overhaul
- Web Services
A gradual implementation of the upgrades was recommended.
Next, the proposed budget will go to the full FSLSO Board of Directors for approval. The Board is scheduled to meet on Tuesday, September 22, 2009.
Should you have any questions or comments, please contact Colodny Fass.
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