Local Government Premium Tax Electronic Annual Reconciliation

Local Government Premium Tax Electronic Annual Reconciliation COMMONWEALTH OF KENTUCKY DEPARTMENT OF INSURANCE Frankfort, Kentucky BULLETIN 2009-03 The following Bulletin is to advise the reader of the current position of the Kentucky Department of Insurance (the “Department”) on the specified issue. The Bulletin is for informational purposes only and is not legally binding on either the Department or the reader. TO: All Insurance Companies Transacting Insurance in Kentucky All Surplus Lines Brokers Transacting Insurance in Kentucky FROM: Sharon P. Clark, Commissioner RE: Local Government Premium Tax Electronic Annual Reconciliation KRS 91A.080 DATE: October 1, 2009 ************************************************************************ MANDATORY ELECTRONIC ANNUAL RECONCILIATION Beginning with the 2009 Local Government Premium Tax Annual Reconciliation (which is to be submitted on or before March 31, 2010), the Department of Insurance will mandate that the annual reconciliation required pursuant to KRS 91A.080(8) be submitted electronically to the Department. Users may choose from two electronic options: • File Transfer Protocol (“FTP”) • E-Services Portal Documentation on how to submit electronically is on the Department of Insurance website, at http://insurance.ky.gov/kentucky/ALSearch/Rateform/Docs.aspx?DivID=10 under the heading “Annual Reconciliation Electronic Submission.” FILING OPTIONS AND INSTRUCTIONS File Transfer Protocol (“FTP”) If choosing the FTP method, users must request access to the system by contacting the Kentucky Department of Insurance at DOI.ISHelpDesk@ky.gov or by calling: (502) 564-6154 X4359. E-Services Portal Surplus Lines Brokers Access to electronically submit the annual reconciliation pursuant to KRS 91A.080 will automatically be added to any existing E-services account. Insurance Companies Insurance companies will need to establish an E-services account. The process to establish an account is outlined in the “User Documentation for Companies” section at: http://insurance.ky.gov/kentucky/ALSearch/Rateform/Docs.aspx?DivID=10. Local governments Local governments that wish to view their data online may do so through E-Services. Local governments must request access to view the annual reconciliation data through an email sent to DOI.ISHelpDesk@ky.gov or by calling: (502) 564-6154 X4359. IMPORTANT NOTE While the Department of Insurance is requiring that the annual reconciliation be submitted electronically to the Department, insurance companies and surplus lines brokers must continue to send hard copies of their annual reconciliations to the local governments. ___/s/ Sharon P. Clark________ Sharon P. Clark, Commissioner Kentucky Department of Insurance On this __1st__ day of October, 2009