Ep. 50: 5+Years Post NRRA - A Look at Surplus Lines Filings Today
Spot On Insurance
English - March 06, 2018 06:00 - 26 minutes - 21.3 MB - ★★★★★ - 56 ratingsBusiness Education Self-Improvement corporatecompliance insurance insuranceregulation insuretech licensing spotoninsurancepodcast surpluslinestaxfilings Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Brian Allen has been in management positions at Insurance Licensing Services of America, Inc. (ILSA) for over five years. He has collaborated with clients and developers to create and implement ILSA’s SLIC Portal and a new and expansive Tax Calculator.
In this episode, Brian shares his knowledge concerning the different penalties and standards in multiple states with regards to surplus lines filings. He shares many stories and his personal experience around the subject, particularly those that lead to penalties or fines. He also provides good advice on how to avoid penalties especially, when it comes to creating year-end reports.
“It's not only important to get everything in on time but it also has to be exactly right.” – Brian Allen
Today on Spot On Insurance:
His assessment of surplus lines filings. Are the states' internal concerns overriding the desire for standardization? The technological adaptability of different states. Why many agents and brokers suffer from penalties and fines. Differences between big and small companies with regards to systems processing surplus lines. Tips to avoid penalties when creating reports. Why states require "Zero" reports.Key Takeaway:
At the end of the year, every single state will want some kind of a report. Each state being different makes creating uniformity more daunting. Standardized processes may help one state, but may hurt another state.Connect with Brian Allen
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Spot On Insurance is brought to you by Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
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