SLIP+ Bulletin - Transaction Fee Enhancement Update

Please take a moment to review the below SLIP+ for States Bulletin outlining an upcoming enhancement currently in development. This enhancement will provide flexibility in how the SLIP+ Transaction Fee is managed.

COMING SOON – Pay SLIP+ Transaction Fees by State

We heard your feedback, and we're happy to announce this upcoming enhancement. SLIP+ for States customers will soon be able to pay SLIP+ transactions fees by state rather than as a lump sum total. Customers will still have the option to pay all SLIP+ transaction fees with a single click or will have the ability to pay transaction fees by state. All SLIP+ transaction fees will be due on the following schedule:

Listing the Producing Agent on the Policy

In accordance with state statutes, all policies and endorsements must be reported under the surplus lines agent that wrote the policy. Each producer in

your agency must be licensed, and the corresponding business must be reported under the producer who bound the coverage. The surplus lines

licensee who bound the coverage should also be listed on the policy’s declarations page.

Reporting under a single agent will result in non-compliance with state statutes and increase the number of premium reconciliation inquiries. Agencies

reporting for multiple agents should create an agency account on the SLIP+ for States registration page. For more information on agency accounts or for any questions, please contact info@slipplus.com for assistance.

Annual Report FAQ

One of the questions we receive most frequently is “Why don't all transactions effective in 2025 appear on my 2025 annual filing report?"

The SLIP+ for States platform organizes filings based on the date they were filed in SLIP+, not the policy effective date. Because of this, policies with effective dates in 2025 that were filed in SLIP+ during Q1 of 2026 will appear on the 2026 annual filing, not the 2025 annual filing. Likewise, transactions effective in 2025 that are submitted in 1Q2026 invoiced will be invoiced following the end of the first quarter on

the first business day in April.

Tips to Avoid Data Accuracy Requests

• Policy Numbers
  Always report the policy number exactly as it appears on the declarations page. Do not add or remove prefixes or suffixes.
• Transaction Effective Dates
  Use only the transaction effective date for each submission. Keep in mind that endorsements typically have different effective dates than the original policy.
• Premium Reporting
  For quota-share policies, report only the insurer’s share of the premium—not the full amount.
• Home State
  Submit premium only for the insured’s home state. Exclude premium associated with non-U.S. risk locations; only U.S. premium should be reported.

Understanding Home State Determination

Correctly identifying the home state of an insurance policy is essential for compliance, but it can also be confusing! A frequent mistake is using the producer’s location or the insured’s mailing address. Instead, remember that the home state must be determined using the Non-Admitted and Reinsurance Reform Act (NRRA) definition:

1. The state where the insured maintains its principal place of business, or for an individual, their primary residence, OR

2. If 100% of the insured risk is located outside that state, the home state is the state where the greatest percentage of the insured’s taxable premium is allocated.

Master Policies and Affiliated Groups

For policies covering multiple named insureds within an affiliated group, the home state is the home state of the affiliated group member with the largest

percentage of premium under the contract, as outlined in NRRA Section 527(6)(A).

Accurate home state determination supports regulatory compliance, helps prevent reporting discrepancies, and reduces the number of premium

reconciliation requests. To learn more about the NRRA, visit the NRRA Legislation page.

If you have any questions, please contact SLIP+ staff at 877.267.9855 or by email at info@slipplus.com.