February 15, 2023 Deadline for Late-Filed Policy Corrections

Feb 3, 2023 | eNews

SLTX will accept corrections or adjustment forms for late-filed policies included on November or December 2022 monthly late filers reports until Wednesday, February 15, 2023. After this date, no additional modifications can be made to the annual late filers report.

Under Texas statute, SLTX is required to file an annual late filers report with the Texas Department of Insurance (TDI) no later than the first business day of April. The report lists all surplus lines insurance policies that were filed after the filing deadline during the previous calendar year. A policy appears late if it is filed more than 60 days after the effective date or issue date of the policy, whichever is later.

The Texas Administrative Code rule requires surplus lines agents to notify SLTX within 90 days or by February 15th of the following year, whichever is earlier, if a policy that they believe to be timely filed appears on a monthly late filers report. After that time has passed, the agent waives the right to later dispute timeliness of the filing. Due to this timeline, only policies included on the November or December 2022 monthly late filers report may be disputed.

For information on retrieving monthly reports through the online filing system, please view the SLTX Obtaining Late Filing Reports – How to Guide. Then, make corrections or complete and submit the Monthly Late Filing – Request for Adjustment form.

Texas Insurance Code Sec. 981.105 also details regulatory remedies that the Commissioner of Insurance may accept for late-filed surplus lines policies. Fees and/or enforcement actions imposed will take into consideration how many days elapsed after the filing deadline before the policy was reported and the broker’s late filing record over the previous year.

Please contact the Tech Support team with any questions regarding the annual late filers report.