Surplus Lines Stamping Fee Rate Changes for Policies Effective on or After Jan. 1, 2012

COMMISSIONER OF SECURITIES & INSURANCE MONICA J. LINDEEN COMMISSIONER  OFFICE OF THE MONTANA STATE AUDITOR # ADVISORY MEMORANDUM TO: All Surplus Lines Agents/Agencies FROM: MONICA J. LINDEEN Commissioner of Securities and Insurance Montana State Auditor DATE: December 6, 2011 Monica J. Lindeen # SURPLUS LINES STAMPING FEE RATE CHANGES FOR POLICIES EFFECTIVE ON OR AFTER JANUARY 1, 2012 Effective January 1, 2012, the surplus lines stamping fee for electronically filed submissions and submissions mailed to the Office of the Commissioner of Securities and Insurance, Montana State Auditor (CSI), with a policy effective date on or after January 1, 2012, will be reduced as follows: | Filing Method | Stamping fee for policy submission with an effective date prior to 1-1-2012 | Stamping fee for policy submission with an effective date on or after to 1-1-2012 | | --- | --- | --- | | Policy is filed electronically by agent/agency | Stamping fee is 0.5% | Stamping fee is reduced to zero percent (0%) | | Policy is mailed by agent to the CSI to be entered in the agent's surplus lines tax statement | Stamping fee is 1.0% | Stamping fee is reduced to 0.25% | The CSI surplus lines filing system will automatically calculate the correct stamping fee based on the effective date of the policy. The data entry of surplus lines submissions will not change. The CSI will have two set of forms on its website for 2012. One set of forms will be for submissions that have an effective date prior to January 1, 2012, and the other for submissions with an effective date on or after January 1, 2012. Please contact Kim Benjamin at 406-444-3897 or kbenjamin@mt.gov or Tim Morris at 406-444-4489 or tmorris@mt.gov if you have any questions. Phone: 1-800-332-6148 / (406) 444-2040 / Main Fax: (406) 444-3497 Securities Fax: (406) 444-5558 / PHS Fax: (406) 444-1980 / Legal Fax: (406) 444-3499 840 Helena Ave., Helena MT 59601 Website: www.csi.mt.gov E-Mail: csi@mt.gov