Changes to Reporting of Underwriters at Lloyd's Policies

Department of Commerce, Community, and Economic Development DIVISION OF INSURANCE 550 W. 7th Avenue, Suite 1560 Anchorage, Alaska 99501-3567 Main: 907.269.7900 TDD: 907.465.5437 Fax: 907.269.7910 Bulletin B 13-10 TO: SURPLUS LINES BROKERS AND OTHER INTERESTED PARTIES RE: CHANGES TO REPORTING OF UNDERWRITERS AT LLOYD’S POLICIES The Division of Insurance has modified the reporting requirements for all Underwriters at Lloyd’s surplus lines transactions. Due to the NRRA requirements, the Quarterly Listing of Alien Insurers will be used to check if an alien company is an eligible nonadmitted insurance carrier. This includes Lloyd’s syndicates. Beginning with all transactions occurring in the 4th quarter of 2013, we are requiring a list of the syndicates associated with any Lloyd’s placement. If the policy has only one syndicate, use the syndicate name and alien co-code from the Quarterly Listing of Alien Insurers. If more than one syndicate is involved, you have two options for reporting, either: 1. Report the entire premium under co-code AA-1122000 and provide a list of the individual syndicates’ numbers and the alien co-code for each syndicate or 2. Provide each syndicate name and alien co-code used with their correct percentages and premium. All syndicates used must be on the Quarterly Listing or on our Alaska listing of eligible surplus lines insurers. If you have any questions regarding this bulletin, contact Jeff Bodine at (907) 465-4609 or jeff.bodine@alaska.gov or Rebecca Nesheim at (907) 465-2584 or rebecca.nesheim@alaska.gov. Dated this ___ day of November 2013 at Anchorage, Alaska. _____________________________ Bret S. Kolb Director