Surplus Lines Brokers Filing Requirements

BULLETIN #07-_12_ DATE: August 6, 2007 TO: Surplus Lines Brokers in Maryland RE: Filing Requirements Chapter 54, Laws of Maryland 2007 (Senate Bill 875) amended Section 3-307 of the Insurance Article regarding the date by which a certain affidavit for surplus lines insurance must be filed with the Administration relating to the placement of surplus lines insurance by a surplus lines broker. Specifically, Section 3-307 was amended to permit the filing of a report, on or before the 45th day after the last day of the calendar quarter in which the surplus lines insurance is placed. Surplus Lines Affidavits, related Premium Reports and Semi-Annual Surplus Lines Broker Gross Premiums Receipt Tax Report may be downloaded from the Administration’s website at www.mdinsurance.state.md.us, click on “Producer Services”, then “Download Forms”, and scroll down to “Surplus Lines Affidavits and Tax Report”. Surplus lines brokers may submit information in an alternative format to Form SLB-1, which is attached to this Bulletin, as long as the same information is provided. For uniformity in the completion of the SLB-1, a recommended listing of abbreviations for insurance coverages is also attached. Once completed, the reports can be emailed in either PDF, Word, or Excel format, to the Administration at the following address: surpluslinefiling@mdinsurance.state.md.us. If you elect to use this option for filing the semi-annual tax report, payment must still be mailed to the Administration by the due dates specified in Section 3-325 of the Insurance Article. PEGGY J. WATSON Interim Commissioner JAMES V. MCMAHAN, III Deputy Commissioner LESTER C. SCHOTT Associate Commissioner Examination and Auditing MARTIN O’MALLEY Governor ANTHONY G. BROWN Lt. Governor 525 St. Paul Place, Baltimore, Maryland 21202-2272 Direct Dial: 410-468-2119 Fax: 410-468-2101 Email: lschott@mdinsurance.state.md.us 1-800-492-6116 TTY: 1-800-735-2258 www.mdinsurance.state.md.us If you elect not to file the forms electronically, please mail completed forms and check made payable to the Maryland Insurance Administration to: Margie Conrad Maryland Insurance Administration 525 St. Paul Place Baltimore, MD 21202 The Affidavit still requires surplus lines brokers to attest that the requirements contained in Section 3-306 of the Insurance Article have been met for all coverages placed with surplus lines carriers during the quarterly reporting period. Additionally, a summary report of the coverages placed and the related premiums must be filed with the Affidavit. The new filing requirements and forms are effective for the calendar quarter ending December 31, 2007. Any questions regarding this Bulletin or the new filing requirements may be directed to Lester C. Schott, Associate Commissioner, at 410-468-2119. Peggy J. Watson Interim Insurance Commissioner By: Signature on file with original document_ Lester C. Schott Associate Commissioner