What is considered a significant factor for refusal to renew a surplus lines license?

Failure to remit premiums is a significant factor for refusal to renew a surplus lines license because it directly impacts the financial integrity and reliability of the licensed individual or entity. When premiums are not remitted, it can indicate financial irresponsibility, which raises concerns for both the insurers and regulators. This could lead to potential liability issues, as unremitted premiums may affect the ability of insurers to pay claims, thereby undermining public trust in the surplus lines market.

In contrast, regularly submitting audits, completing additional training, and working with multiple insurers are generally viewed as positive practices within the insurance industry. Submitting audits demonstrates compliance and transparency, completing training enhances knowledge and skills, and working with multiple insurers can indicate a well-connected and operationally sound agency.