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Policy Audits

Periodically, SLTX performs audits to ensure any errors are corrected and that policies are in compliance with statutes and surplus lines regulations.

When a policy audit is initiated, the agency will receive notice via email with a list of policies for review.

If the policy has been cancelled, submit the policy to SLTX and provide the cancellation document.

Policy corrections can be made prior to submission to SLTX for audit.

Submitting Items

As part of the audit, the agency should provide complete copies of the requested transactions to SLTX, which includes the following:

  • Coverage parts
  • Schedules
  • Required notices (Complaint Notice, Non-Participation in the Guaranty Fund)
  • Endorsements
  • Zip code of the risk location (must be a physical address)
  • Binder (if used) and policy

In addition, the name and address of the surplus lines license holder must be shown on all items. Please refer to the Policy Audit Checklist.

For expedited processing, brokers are encouraged to submit the requested items through email or other secure electronic methods. The items must be received by SLTX by the due date indicated on the policy audit request.

If you are unable to return the policies by the date specified in the letter, please contact SLTX to request an extension of the due date.

When communicating with SLTX regarding a policy audit, always refer to the policy audit number (included within the audit request letter), agency name, and surplus lines license number. Please contact Tech Support if you need assistance.

Making Corrections

When the review is complete, SLTX will communicate the results to the agency’s primary and secondary contacts via email. The results will include all errors found during the audit, which must be corrected by the due date specified.

For more information on making corrections, please refer to the Policy Audit Corrections How To Guide.

Any items that require a correction are highlighted in yellow. Errors that require the transaction to be reversed and re-entered will be noted within your result. These may include, but are not limited to:

  • Premium or premium split errors

  • Coverage or class code errors

  • Incorrect policy numbers

  • Incorrect insurers and/or syndicates

Errors that may require additional paperwork (i.e. correcting endorsements, schedules or forms not previously submitted, etc.) to be sent to SLTX include, but are not limited to:

  • Policy fee discrepancies

  • Breakdown of States forms missing or entered incorrectly

  • Zip code of risk location not included within the policy

  • Premium discrepancies due to inaccurate paperwork

Please email Tech Support once all applicable errors have been corrected. Be sure to include your agency/broker name and license number, along with the validation number from your policy audit results.