Mandatory Use of OPT ins Required for Surplus Lines Broker Submissions and Payments

Trinidad Navarro Commissioner Delaware Department of Insurance # SURPLUS LINES BULLETIN NO. 21 TO: ALL LICENSED SURPLUS LINES BROKERS AND ASSOCIATED COMPLIANCE STAFF RE: MANDATORY USE OF OPTins REQUIRED FOR SURPLUS LINES BROKER SUBMISSIONS AND PAYMENTS DATED: August 30, 2017 The Delaware Insurance Code at 18 Del.C. §1925 requires each surplus lines broker to file with the Delaware Department of Insurance premium tax filings in the form prescribed by the Commissioner. The purposes of this Bulletin are to: - Inform all surplus lines broker licensees who are subject to Section 1925 of the Delaware Insurance Code, that on and after January 1, 2018 policy transaction reports, premium tax reports and payments must be filed through the Online Premium Tax for Insurance portal, otherwise known as OPTins; no paper filings will be accepted on or after January 1, 2018; and - To withdraw Surplus Lines Bulletin No. 17, Changes to Form SL-1025-Q for Calendar Year 2014 Quarterly Tax Reporting and Surplus Lines Bulletin No. 20, Calendar Year 2016 Annual Premium Tax Fees Reports, because these bulletins are outdated. OPTins is an online application produced by the National Association of Insurance Commissioners (NAIC) that allows filers to securely transmit premium tax reports and payments and that allows the Department to receive those reports immediately. Users log in, upload forms available in OPTins, and submit payment online using either ACH credit or ACH debit. OPTins charges a minimal fee payable to the NAIC; however, no additional fees are charged for amending a tax report or submitting any additional information requested by the Department. The process to register with OPTins can take two weeks or more to complete. Accordingly, users are advised to register as soon as possible, but no later than at least 30 days prior to January 1, 2018. Detailed registration information is available on the OPTins website, www.optins.org, or through the OPTins Marketing Team at OPTinsMktg@naic.org, 816-783-8787. Additionally, the Department encourages all surplus lines brokers to begin using OPTins for upcoming quarterly filings. Early utilization of OPTins will allow users to become familiar with the system and ensure a smooth transition to the annual electronic submission due March 1, 2018. Note that all surplus lines broker licensees must submit the annual tax report, even if no business was transacted during the calendar year and no payment is due. Questions regarding this notice should be directed to the Surplus Lines Section at DOI-SLTax@state.de.us. This Bulletin shall be effective immediately and shall remain in effect unless withdrawn or superseded by subsequent law, regulation or bulletin. Trinidad Navarro Trinidad Navarro Delaware Insurance Commissioner NOTE: This Bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties, or privileges, nor is it intended to provide legal advice. Readers should consult applicable statutes and rules and contact the Delaware Department of Insurance if additional information is needed. 841 Silver Lake Blvd., Dover, DE 19904-2465 ♦ www.insurance.delaware.gov (302) 674-7300 Dover ♦ (302) 739-5280 fax ♦ (302) 577-5280 Wilmington