Agents, brokers, carriers, and the occasional regulator generally agree that Florida's insurance code is probably the most detailed and complex in the country. As a result, agents and brokers sometimes get caught in the maze of regulations, which can be misinterpreted, misapplied, or sometimes, simply ignored.
One of the most commonly misunderstood statutes is the "diligent search" process that requires retail agents to conduct a search in the admitted market before it can place a policy with a surplus lines carrier. For purposes of this article, it is worth reading the statutory language, which is located in Chapter 626.916, Florida Statutes. If you get lost in the plodding language of the law, don't worry: you're not alone. Just remember the old line that a horse put together by a committee looks like a camel.
Diligence and Discovery
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