Reconciliation of non-admitted premium

Mark Gordon Govemor THE STATE OF WYOMING D epartment of Ins urance 106 E. 6th Ave. . Cheyenne, Wyoming 82002 Jeffrey P. Rude Commissioner September 76, 2024 Attn: All Surplus Lines lnsurers doing business in Wyoming RE: RECONCILIATION OF NON-ADMITTED PREMIUM The Wyoming Department of lnsurance (Department) is requestinB certain information regarding the nonadmitted insurance that was written in Wyoming for the year 2024 and going forward. This data is necessary to reconcile the premiums written by non-admitted insurance companies with the premiums reported by the Wyoming non-admitted filers (surplus lines agents/brokers, direct procurement filers, and risk purchasing grou ps). Wyoming follows the "Home State" taxation and regulatory requirements that are outlined in the Non- Admitted and Reinsurance Reform Act (NRRA) as required under W.S. 26-77-178. Surplus Lines Brokers that transact business with non-admitted insurers where Wyoming is the home state are required to file tax reports with the Wyoming Department of lnsurance and remit taxes and fees on all WyominB non-admitted insurance business through the Surplus Lines lnformation Portal (SLIP). As a surplus lines insurer doing business in Wyoming, you currently file your business written report to the Wyoming Department of lnsurance via a paper filing. The Department is modernizing this filing to be an electronic filing via the SLIP system, which will no longer require the paper filing. lnsurers will submit policy data to the Wyoming Department of lnsurance via the SLIP system. SLIP website can be accessed via https://www.slasclearinghouse.com or https://slip.slasclearinghouse.com/Common/login.aspx?ReturnUrl=%2f. All surplus lines insurers will be sent an emailwhen their company's SLIP account is created register for a SLIP account on the SLAS SLIP login page. However, if you do not receive an email, insurers can lnsurers have the following options for data submissions via SLIP: (1) manual data entry or (2) multiple policy submission through an XML batch process. lnsurers reporting a relatively small number of policies are ideal candidates for the manual data entry in SLIP, while insurers reporting numerous policies may prefer to submit data in XML batch format. Please contact the SLAS staff at batchfilins@slasclearinehouse.com to request more information on the batch filing process. Administration (307) 777-7401 . Fax (307) 717-2416 ' httpr//doi.wlo.gov/ . t.icensing (307) 777-7319. Consumer Affans Q01) 717-7402 THE STATE OF WYOMING Deparlment of Ins uronce RECONCILIATION OF NON-ADMITTED PREMIUM (Concluded) The Wyoming Department of lnsurance reconciles the non-admitted insurance company data with nonadmitted filer/broker data that is submitted into SLIP. Please report the data as it appears on the declarations page. The following data elements are required for each policy submitted by insurers: 0 Policy number E lnsured D Name of the surplus lines agent or direct procurement filer E Premium (100% of the premium for Wyoming "Home State" policies) E Transaction effective date Surplus Lines lnsurers writing business in Wyoming will have until December 3L,2024 to report transactions effective January 1, 2024 - September 30, 2024. All transactions effective October 1, 2024 and after should be reported using the schedule below. To summarize, all foreign insurer transactions effective January 1, 2024 - September 30, 2024 should be reported in SLIP on or before December 31, 2024. Foreign insurer transactions effective October 1,2024 and after should be reported quarterly using the reporting deadline schedule listed above. Alien insurer transactions effective January 1,2024 - December 37,2024 should be reported annually on or before June 30, 2025. Lela Ladd lnsu rance Standards Manager WyominB Department of lnsu rance 2 Transactions Effective Reporting Deadline I " Quarter January I -March31 June 30 2" Quarter April - June 30 September 30 3* Quarter July 1-September30 December 3 I 4" Quarter October I - December 3l March 3 I of the following year Foreign Insurers - Quarterly Filings For more information on insurer reportinB or premium reconciliation, please contact the SLAS team at lnsu rerServices@slasclearinghouse.com, or by phone at877.267.9855. You may also contact the Wyoming Department of lnsurance al 3O7.777.2448 or lela.ladd(owvo.sov. Respectfully, @/,t/uq Reporting Period