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| The following comments are
by Phil Ballinger, CPCU, ASLI, General Manager of the Surplus Lines Stamping
Office of Texas Texas
Legislature |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
The Stamping Office Has Moved!
| We are pleased to announce our relocation to Las Cimas
Office Park. Please make note of these changes to avoid correspondence and
filing delays. 805 Las Cimas Parkway Suite 150 Austin, TX 78746 Send policy filings to: P.O. Box 160170 Austin, TX 78716-0170 The following information will remain the same. Phone: (512) 346-3274 Fax: (512) 346-3422 General E-mail: info@slsot.org SLSOT Website: www.slsot.org |
 |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
2003
Evidence Filing Requirements Set for
Texas Surplus Lines Insurers
|
The annual “Evidence Filing Requirements for 2003” letter
has been released by the Texas Department of Insurance (TDI) and distributed
via bulletin #SO-2003-01 by the Stamping Office. These filing requirements
are in accordance with the Texas Insurance Code, Article 1.14-2 and related
provisions of the Texas Administrative Code (28 TAC Section 15.8).
Subsection 15.8 (j) requires the Texas Department of Insurance to maintain
the “Surplus Lines Insurers List” compiled from the information submitted to
meet the eligibility requirements. The minimum capital and surplus
requirement remains at $15 million. All surplus lines insurers wishing to
retain or gain Texas surplus lines eligibility must file complete and
legible evidence by the due dates contained in the TDI letter. The first
filing deadline for foreign (US) insurers is March 31, 2003. |
| Additional information and links to tax
forms can be located on our website at www.slsot.org under Agent Information. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
SLSOT Employee News
| Elaine White, Director of Data Services, recently recognized Veronica Valdez and JoAnn Rodriguez for their performance in the management of the Data Services Department by naming Ms. Valdez Document Processing Supervisor and Ms. Rodriguez Data Entry Supervisor. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
Commissioner Appoints New Directors for SLSOT
|
In January, Commissioner Montemayor announced three
appointments to SLSOT's Board of Directors. As an industry member - Daniel
E. Whitt, Executive Vice President, Rigg Insurance Managers, Inc., Dallas.
As public members - Alan W. Smith, CPCU, Risk Manager, Garland Independent
School District, Garland and Colleen E. Cummings, ARM, Risk Manager, The
Hanover Company, Houston. They will serve three year terms, until December
31, 2005. The new directors will replace Simon Bancroft of Dallas, Dean
Frigo of Amarillo, and Cynthia Kirk of Bryan, whose terms expired at the end
of 2002. The Stamping Office extends its appreciation to Simon, Dean, and
Cindy for their dedication and commitment while serving on the Board. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
Surplus Lines Premium Tax Filing Deadline Approaching
|
All surplus lines premium taxes from 2002 business are due
to the Texas Comptroller of Public Accounts by March 1, 2003. If you held a
surplus lines agent's license at any point during 2002, you are required to
file a tax report, even if no tax is due. Tax forms will be mailed to each
surplus lines agent by the Comptroller's Office during the month of January.
If you do not receive a form, please call the Comptroller at (512) 463-4074.
Also, please remember you are now required to file taxes electronically if
your tax liability last year exceeded $100,000. (Refer to SLSOT Bulletin
2001-13.) |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
Kantor Honored as 2002 Employee of the Year
|
|
Janet Kantor was recently honored as the 2002 SLSOT Employee of the Year. This award recognizes the drive and dependability she demonstrates daily that makes her such a valued employee. Ms. Kantor began her employment with the Stamping Office in 1990 as a Microfilm Clerk. In 1994 she made the move from Document Processing to the Data Entry Department as a Data Entry Examiner I. After two promotions, Janet now holds the position of Data Entry Examiner III. We appreciate the level of commitment Janet has shown throughout the years and congratulate her on this award. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
E-Filing System Update
|
Development of the electronic filing system continues to move forward. A presentation of the functionality of the system was made to the Texas Surplus Lines Association at their annual meeting in November. Unit testing of individual components is being conducted, prior to integral system testing. We are also preparing for agent testing. Technical information, including specifications for file format, data elements, coverage and classification tables and transaction type codes will be available in the near future to those agents who will participate in the testing process. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
| Policies replacing binders should
be submitted on a non-premium Transmittal. Reporting the premium again
results in duplication of the premium, tax and stamping fee. When responding to a tag memo, an explanation should be given if the tag is to be removed with no other action. If an item is submitted for processing as the result of a tag, it must be submitted along with a new Transmittal and Verification Slip. When preparing your Transmittal and Verification Slip for submission, please be sure your license number is correct, just as it's shown on your license. Also verify that each item listed on the Transmittal is actually included in the batch. When submitting Renewal Certificates for processing, be sure to include the expiring policy number if the number has changed in any way, such as adding -1 or R2, etc. |
From the Lone Star Lines -
January - March Issue 2003
Surplus Lines Stamping Office of Texas
Comparison of SLSOT Premium Processed
by Line of Business
|
Annual Statement Line of Business |
Premium through 12/31/2002 |
Premium through 12/31/2001 |
Percent Change |
| 1 Fire (incl. allied lines) | $725,013,513 | $391,448,609 | 85.2% |
| 2 Allied lines | $42,654,781 | $21,559,773 | 97.8% |
| 3 Farmowners multiple peril | $1,225,199 | $1,510,535 | -18.9% |
| 4 Homeowners multiple peril | $94,666,493 | $46,121,332 | 105.3% |
| 5 Commercial multiple peril | $43,115,934 | $21,200,406 | 103.4% |
| 8 Ocean marine | $12,131,234 | $6,616,414 | 83.4% |
| 9 Inland marine | $54,549,413 | $39,804,385 | 37.0% |
| 11 Medical malpractice | $58,083,094 | $28,364,313 | 104.8% |
| 12 Earthquake | $54,588 | $183,215 | -70.2% |
| 13 Group accident & health | $109,396,625 | $85,575,670 | 27.8% |
| 15 All other A&H | $100,788 | $82,096 | 22.8% |
| 17 Other liability | $1,106,635,320 | $681,083,754 | 62.5% |
| 18 Products liability | $37,770,302 | $21,112,970 | 78.9% |
| 19.2 Other priv pass auto lia | $13,411 | $19,688 | -31.9% |
| 19.4 Other comm. auto liab | $82,206,092 | $47,227,050 | 74.1% |
| 21.1 Priv pass auto physical | $1,203,816 | $1,029,092 | 17.0% |
| 21.2 Comm auto phys.damage | $69,101,823 | $56,593,738 | 22.1% |
| 22 Aircraft (all perils) | $3,807,978 | $2,098,677 | 81.5% |
| 23 Fidelity | $1,095,888 | $1,116,301 | -1.8% |
| 24 Surety | $619,202 | $571,903 | 8.3% |
| 26 Burglary & theft | $3,434,957 | $2,251,757 | 52.6% |
| 27 Boiler & machinery | $67,415 | $29,982 | 124.9% |
| 28 Credit | $57,844,715 | $51,491,862 | 12.3% |
| 31 Aggregate/other business | $1,404,567 | $1,285,776 | 9.2% |
| TOTAL | $2,506,197,148 | $1,508,379,298 | 66.2% |
| Note: Due to rounding figures may not total | |||
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