Latest News from the InsCipher team
Update

California - 2024 Tax Form Filing Information - New Premium Tax Processing System (PTPS)

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Shared by Compliance • February 01, 2025

The California Department of Insurance has issued an important Notice regarding the new Premium Tax Processing System (PTPS). This application applies to the 2024 Annual Tax Return and future tax years.

To file, you will need to establish a login by clicking on the unique link sent to you by premiumtaxfiling@insurance.ca.gov. This link will be sent to the email address you provided on your 2023 tax report.

If you did not receive a link, please reach out to premiumtaxfiling@insurance.ca.gov. If you have any further questions, please feel free to reach out to the CDI team as outlined in their bulletin.

Update

New York - ELANY Bulletin 2025-04 New Coverage Codes

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Shared by Compliance • January 30, 2025

ELANY has issued Bulletin 2025-04, announcing the addition of Business Interruption and Parametric Insurance excess line coverage codes. Our portal has been updated to include these new codes. If you have any questions or need further assistance, please reach out to elanyinfo@elany.org.

Update

Colorado - 2024 Annual Reports Reminder

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Shared by Compliance • January 24, 2025

Please note the below reminder from the Colorado Division of Insurance regarding 2024 Annual Reports:

The 2024 monthly and Annual Statement Reports are due by March 1, 2025, in the Colorado Surplus Lines Tax System, even for zero business.

The total tax on all policy placements with a 2024 effective date is to be received by March 1, 2025, to avoid a penalty.

Should the license be canceled or non-renewed, or should the licensee exit the business or retire, reports are required in the Colorado Surplus Lines Tax System through the license inactive month listed in the SIRCON Licensing Record through tax year 2024.

Instructions:

1. File at https://www.dora.state.co.us/pls/real/slt.process_logon

  • Verify all the policies are filed into the policy effective month and year.
  • Verify all the monthly reports are filed by clicking on Monthly Premiums to ensure all monthly reports and affidavits are filed to include any zero business.

2. You are now ready to file the Annual Statement Report.

  • From the bottom of the SLT Broker Home Page, click on the Reporting Year.
  • Follow the prompts through each screen, and click on Finished on the final page.

3. Verify that the Annual Statement Report reads Submitted at the bottom of the SLT Broker Home page.

  • If it does not read Submitted then the Annual Statement Report did not file.
  • Verify the Monthly Reports are filed, then try again.
  • Please do not mail the Annual Statement Coupon unless including a check.

4. If after filing the Annual Statement there are additional policies to report send an email to DORA_Coloradoinsurancesurpluslinestax@state.co.us and request a year reset.

Password Finder:

1. Go to https://www.dora.state.co.us/pls/real/slt.process_Logon

2. In the upper left corner click on Password Finder.

3. Under the -or- enter the Broker License Number, and the email address listed on the account.

4. You will immediately receive an email with the login ID and Password. If the Contact Info has changed: From the Broker Home Page, click My Account > Update Personal Info. Enter the updates and Save.

Update

New York - ELANY Bulletin 2025-03 - 2024 Premium Tax Statement Filing Reminder

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Shared by Compliance • January 23, 2025

The Excess Line Association of New York (ELANY) has issued Bulletin 2025-03, providing a reminder regarding the filing of your 2024 premium tax statement. If you have any questions or require assistance, please contact Theresa Hetherington at thetherington@elany.org or 646-292-5561. Alternatively, you can reach out to ELANY via email at elanyinfo@elany.org.

Update

Louisiana - Advisory Letter 2025-01 - Clarifying Policy Fees

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Shared by Compliance • January 23, 2025

The Louisiana Department of Insurance has issued Advisory Letter 2025-01, providing clarification regarding policy fees. Should you have any questions or concerns, please contact the Louisiana Office of Management and Finance at 225-342-1012 or via email at public@ldi.la.gov.

Update

Pennsylvania - Exempt Commercial Purchaser Minimum Qualifying Amounts Adjustment Effective January 1, 2025

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Shared by Compliance • January 21, 2025

Please review the important Bulletin released by the Pennsylvania Surplus Lines Association. This notice outlines a change to the minimum qualifying amounts required to be classified as an exempt commercial purchaser.

Update

Oklahoma - Bulletin 2025-01 - Clarifying Anti-Rebating Statute

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Shared by Compliance • January 21, 2025

The Oklahoma Insurance Department has issued Bulletin 2025-01, providing clarification on the state's anti-rebating statute. If you have any questions or need further information, please contact the Oklahoma Insurance Department's Legal Division at 405-521-2746 or via email at tyler.trammell@oid.ok.gov.

Update

New York - ELANY Bulletin 2025-02 - Complimentary Cybersecurity Training

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Shared by Compliance • January 21, 2025

ELANY has released Bulletin 2025-02 extending its free cybersecurity awareness training offer through December 31, 2025. If you have any questions please reach out to elanyinfo@elany.org.

Update

Alaska - Bulletin R 25-01 Surplus Lines Placement List Update

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Shared by Compliance • January 20, 2025

The Alaska Division of Insurance has issued Order R 25-01, updating the Surplus Lines Placement List. This update includes the addition of two new lines of business. Our portal has been updated accordingly to reflect these changes.

Update

Oklahoma- SLAS Notice - Optins Credits and 2024 Annual Reporting Information

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Shared by Compliance • January 20, 2025

Please review the important information below from the SLAS regarding Oklahoma Optins Credits and 2024 Annual Reporting:

Oklahoma OPTins Credits

For customers who are awaiting a refund check for 2024 filings submitted in OPTins for Oklahoma, you may have the option to apply the refund to your Oklahoma tax balance in SLIP. To qualify, you must meet the following requirements:

  • You currently have an outstanding invoice due in SLIP for Oklahoma taxes.
  • You currently have a credit balance in OPTins and are awaiting a refund from Oklahoma for one or more 2024 quarterly filings.
  • The Oklahoma tax refund amount in OPTins exceeds the Oklahoma tax SLIP invoice amount.

To apply the outstanding OPTins credits to your SLIP Oklahoma tax invoice, please contact the OID Surplus Lines Department at OKSurplusLines@oid.ok.gov to confirm your refund has not been processed and request it to be applied to the Oklahoma tax SLIP invoice.

Please provide the SLIP invoice(s) and the tracking numbers from any applicable OPTins filing. The OID will review the request and if approved, the credit will be applied to the Oklahoma tax SLIP invoice. Credit requests must be received prior to the tax invoice due date of 1/31/2025 to avoid delinquent notices.

If a credit remains in OPTins after the SLIP tax invoice is offset, the OID will process a refund for the difference. Please contact the SLAS accounting team at accounting@slasclearinghouse.com if you have any questions.

Oklahoma Annual Report Filings for 2024 Business

The 2024 annual report for Oklahoma is now available in SLIP under Reports > Annual Reports. Users will then select the appropriate state and reporting period, enter the electronic signature and submit. Please note that the Annual Report must be submitted under the agent’s primary SLIP account. Users associated with the agent’s account cannot submit the Annual Report.

All active surplus lines license holders are required to file an annual report, regardless if business is written or not. Surplus lines agents will need to file an annual report in SLIP for all 2024 business. Individual brokers may also need to file an annual statement in OPTins if 2023 business or prior was reported in OPTins in 2024. Business entities (agencies) will continue to file their annual report in OPTins, including zero-business reports.

Please ensure you only report OPTins policies in OPTins and SLIP policies in SLIP to avoid duplicate reporting. If you are unsure where to file, please email the SLAS team at info@slasclearinghouse.com or OID at OKSurplusLines@oid.ok.gov.

For more information, please visit the Oklahoma Insurance Department Frequently Asked Questions.