Procedural Updates
2013 Annual Late Filing Report
By now, you will have received the last of the monthly late filing reports for 2013. It is very important that you review all of these reports carefully for any transactions you believe are appearing in error. If you file using the Electronic Filing System (EFS), you should use the “Correction Re-Entry tieback” option for any necessary corrections. If you file by paper, you will need to provide us with appropriate documentation to confirm the item in question is not late so it can be adjusted before the annual report is run. If you delay too long before resolving these “false-positive” transactions, it will be too late to have them resolved. They must be resolved prior to the running of the annual late filers report. The annual late filers report will be run March 7, 2014.
Effective May 28, 2011, Texas Insurance Code Section 981.105 specifies the regulatory remedies the Commissioner may take for late-filed surplus lines policies. Section 981.105 provides two authorized remedies for surplus lines agents who file policies late: fees and enforcement actions. These will be determined from the 2013 annual late filing report.
Texas Mandatory Data Call Includes Surplus Lines Insurers
Texas has issued a data call requiring each insurer to report the “current average credit for excluding windstorm and hail coverage in the catastrophe area.” This requirement includes surplus lines carriers. The deadline for submitting completed data is December 31, 2013. Instructions and other details from the Commissioner’s Bulletin can be found here.
Mandatory Zip Code 01-01-2014
All policies, binders, cover notes, and date extensions filed with the Stamping Office on or after January 1, 2014 must include the zip code of the risk location, if the effective date of the policy is post NRRA (on or after 07/21/11). This requirement now applies to all lines of business, not just property. If the policy is covering multiple locations, you should enter the single Texas zip code that reflects the highest limit or greatest Texas exposure. It is not necessary to provide the zip code on endorsements, unless the risk location/exposure is changing. All zip codes must be valid Texas zip codes.
For questions, please call SLTX at (512) 531-1880.
Lone Star Lines – Volume 19, October – December
Lone Star Lines – Volume 19, July – September
Lone Star Lines – Volume 19, April – June
Directions for Accessing Surplus Lines Eligibility List
This bulletin contains directions for accessing Surplus Lines Eligibility List from the Texas Department of Insurance:
SURPLUS LINES ELIGIBILITY LIST
In an effort to keep surplus lines agents up to date on eligible surplus lines insurers in Texas, the department has created an Excel Comma Separated Values (CSV) report that is updated daily directly from the department’s database.
With the addition of this report, the Quarterly List of Eligible Insurers will no longer be forwarded to the stamping office each quarter as this list supersedes the quarterly list. This live list of eligible insurers is updated daily and can be accessed on the department’s website at: https://appscenter.tdi.texas.gov/tdireports/p/externalReports
Please visit this webpage and click the hyperlink titled: “Various lists are available for download”, note the disclaimer regarding surplus lines insurers on this webpage. On the next page click to expand the “Regulated Companies” tab, and select “Surplus Lines”or “Active Syndicates” from the menu. Select the grey bar “Download Search Results in Comma Separated Values (CSV) Format” and at the bottom of the screen a dialogue box will appear where the report has been populated in Excel, click to view.
The information found in this report includes: TDI No., Company Name, Eligibility Date, Statutory Home Office City and State/Country and Contact Mailing Address for surplus lines insurers and Lloyd’s Syndicates by TDI No. and Eligibility Date. To view information contained in the spreadsheet, click on the title headings to expand or collapse each column with the cross bar that appears when hovering over the column dividing lines by double-clicking. The report may be saved and information searched by CTRL “F” to find a particular company. Please use an internet search engine as a resource for other Excel related questions when manipulating this report.
An additional supplemental report will continue to be published monthly to inform agents of additions, deletions, name, home office and mailing address changes that occurred in the prior month. This supplemental report will be available on the stamping office website as a bulletin when received from the department and will also appear in excel format.
Any questions regarding this bulletin or eligibility list should be directed to TDI.
Lone Star Lines – Volume 19, January – March
Lone Star Lines – Volume 18, October – December
TDI Reminder to Surplus Lines Agents Filing Policies with SLSOT
The Texas Department of Insurance (TDI) has requested that we distribute the attached notice to all surplus lines agents. For any questions concerning this bulletin, please contact Teresa Hudson, TDI, at 512-322-3535.
REMINDER TO ALL SURPLUS LINES AGENTS FILING POLICIES WITH THE SURPLUS LINES STAMPING OFFICE OF TEXAS (SLSOT)
Pursuant to Texas Insurance Code Section 981.105, a surplus lines agent must file a new or renewal policy with the SLSOT not later than the 60th day after the later of the effective date or issue date. Effective May 28, 2011, Section 981.105 specifies the regulatory remedies the commissioner may take for late-filed surplus lines policies. Section 981.105 provides two authorized remedies for surplus lines agents who file policies late: fees and enforcement actions. The authorized remedies the commissioner may take vary according to the date filed and the percentage of policies you filed late during the preceding calendar year. The following table summarizes the authorized remedies: