Excess and Surplus Lines Insurance
- Procedure to be added to the "Recognized List"
- The Surplus Lines Market
- Frequently Asked Questions
- Statutes and Regulatory Rules Applicable to Surplus Lines
- Submission Procedures
- Utah "Recognized List" of Surplus Lines Insurers
- Utah "Export List" of coverages and classes eligible for export to the E&S market
- 2006 Surplus Lines Utah Premium
The Excess and Surplus Lines Market
The excess and surplus lines market, hereafter referred to as surplus lines, is a supplemental market of insurance companies that do not have a certificate of authority to write insurance in Utah. These insurers do not "do business" in Utah. Laws and regulations provide a mechanism to control the surplus lines brokers' "export" of business to recognized non-admitted insurers. Though specifics may differ, there is a consistency in the basic framework of surplus lines laws throughout the various states. The prohibition against soliciting business on behalf of non-admitted insurers is universal, as well as the requirement that there be a diligent, good faith effort to place the insurance with an admitted insurer. Documentation and justification of the surplus lines placement is always required. Restrictions on using surplus lines for the purpose of price advantage and restrictions on exporting different layers or segments of a risk are common. Several states use an export list of insurance coverages and classes. Some states have exemptions for larger insureds. Utah surplus lines rules and procedures are consistent with most other states in these areas.
Frequently Asked Questions
What is your surplus lines tax rate?
4.25% of gross premiums less return premiums due to cancellations or premium reductions. Gross premiums include all policy fees. Gross premiums do not include separately negotiated broker fees that are not listed on the policy.
Is there a stamping fee?
Yes. The stamping fee is .0015 of the gross premiums less return premiums due to cancellations or premium reductions. Gross premiums include all policy fees. Gross premiums do not include separately negotiated broker fees that are not listed on the policy.Do you have a stamping office?
The Surplus Line Association of Utah acts as the stamping office for the Utah Insurance Commissioner. All submissions of surplus lines policies should be sent to the Surplus Line Association of Utah within 60 days of the effective date of the coverage. The broker will then be billed. Contact the Surplus Line Association for further instructions.
The Surplus Line Association of Utah
6711 South 1300 East
Salt Lake City, UT 84121
Ph. (801) 944-0114
Fax (801) 944-0116
Web Site: http://www.slaut.org
Can non-residents obtain a surplus lines brokers license?
Yes, Utah has a non-resident surplus lines broker's license. Contact our Producer Licensing Division.
Statutes and Regulatory Rules Applicable to Surplus Lines
Current statutes and regulations are as follows:
Statutory Provisions
- Title 31A Chapter 15, Utah Code
Regulatory Rules
Procedures for Surplus Lines Placement Rule R590-171 Surplus Lines Insurance Premiums Tax and Stamping Fee Rule R590-157
Submission Procedures
All surplus lines transactions on risks with Utah exposures must be submitted to the Surplus Line Association of Utah for examination for compliance with Utah laws and rules and for collection of the Utah surplus lines premium tax.
The Surplus Line Association of Utah
6711 South 1300 East
Salt Lake City, UT 84121
Ph (801) 944-0114
Fax (801) 944-0116
Web Site: http://www.slaut.org
Submissions must include the applicable submission form(s) and a complete copy of the policy, certificate or endorsement(s). Submissions must be made within 60 days of the effective date of the transaction. If submissions are not made within this time-frame, a penalty will be assessed. (If the policy is not available within 60 days a binder with full specifics of the coverage must be submitted.)
Surplus Lines submission forms may be obtained by clicking on the following link to the Surplus Line Association http://www.slaut.org/forms/form_indx.htm.
Surplus Lines Utah Premium
| Company Name (107) | 2002 Utah Premium | 2003 Utah Premium |
|---|---|---|
| Admiral Ins Co | $1,540,813.90 | $2,567,334.43 |
| Alea London | $29,284.00 | $88,486.00 |
| Allianz | - | $5,594.00 |
| Allied World | $1,48,440.04 | $470,269.85 |
| American Empire Surplus Lines Ins | $250,428.83 | $2,509,328.92 |
| American Equity Ins | $363,573.28 | $1,331.00 |
| American Health Care | $1,601.00 | - |
| American International | $3,284,311.00 | $4,608,411.64 |
| American Safety International | $53,493.00 | $483,913.00 |
| ARCH Excess & Surplus Ins. | $145,587.00 | $285,379.52 |
| ARCH Specialty Ins. | $400,000.00 | $775,554.29 |
| Associated Electric & Gas | $267,325.59 | $1,963,901.65 |
| Associated International | $145,299.00 | - |
| Atlantic Casualty | $352,665.00 | $431,718.52 |
| AXA Corp. | $408,860.00 | $202,048.50 |
| AXA Global | $6,650.00 | $3,475.00 |
| AXIS Specialty | - | $1,526,217.98 |
| AXIS Surplus Ins. Co. | $75,100.00 | $1,849,464.99 |
| British Aviation | $1,478.00 | - |
| Burlington Ins Co | $,418.00 | $1,468,096.00 |
| Canal Indemnity Co. | $83,937.63 | $345,101.00 |
| Century Surety Co. | $56,765.00 | $53,163.00 |
| CGU International Ins. PLC | - | 657,392.00 |
| Chubb Custom Ins | 673,109.52 | 1,118,139.50 |
| Clarendon America Ins | 955,076.88 | 764,259.63 |
| CNA Reinsurance Co | 12,426.00 | 4,496.00 |
| Colony Ins | 1,369,508.17 | 1,908,905.50 |
| Colony National | 5,924.00 | (623.00) |
| Columbia Casualty Co | 1,649,237.89 | 26,035,556.10 |
| Commonwealth Ins Co | 607,267.95 | 760,684.79 |
| Crum & Forster Specialty Ins. Co. | - | 103,892.05 |
| Dakota Specialty | 32,430.00 | 30,318.00 |
| Discover Ins. | 19,223.00 | 26,735.53 |
| Empire Indemnity Ins Co | 105,346.00 | |
| Essex Ins Co | 2,569,833.29 | 2,324,338.08 |
| Evanston Ins Co | 5,055,267.04 | 7993,171.74 |
| Everest Indemnity Ins | 97,931.00 | 714,286.00 |
| Executive Risk Specialty | 491,892.85 | 984,004.37 |
| First Specialty Ins. Group | 852,492.00 | 591,801.54 |
| Gemini Ins Co | 372,645.00 | 208,222.39 |
| General Agents Ins Co | 29,281.00 | - |
| Generali-France Assurance | 9,873.29 | (54.91) |
| General Security Indemnity | 55,641.65 | 22,397.01 |
| General Security Indemnity Co. of AZ | 239,728.50 | 18,678.23 |
| General Star Indemnity Co | 84,055.00 | 390,783.42 |
| Genesis Indemnity | 706,412.68 | - |
| Glencoe | 3,164.00 | 8,422.29 |
| Gotham Ins Co | 5,500.00 | - |
| Great American E & S | 1,470,608.83 | 1,692,190.67 |
| Great Lakes Reinsurance | 196,707.27 | 36,488.80 |
| Guilford Ins. Co. | - | 500.00 |
| Gulf Ins | 166,580.94 | 120,253.00 |
| Heddington | - | (17.00) |
| Houston Casualty Co | 1,071,099.00 | 733,738.47 |
| INEX Ins Exchange | 763,033.08 | 910,419.81 |
| Illinois Emcasco | 52,500.00 | 29,376.00 |
| Illinois Union Ins Co | 1,795,813.95 | 1,801,995.79 |
| Indemnity Marine Ass. Co., Ltd. The | - | 6,515.26 |
| Indian Harbor Ins. Co. | 1,188,843.21 | 363,828.59 |
| International Ins. Co. | 2,500.00 | 3,809.64 |
| Interstate Fire & Casualty | 762,010.00 | 1,062,916.69 |
| James River Ins. | - | 76,338.70 |
| Kemper Indemnity | 701,707.37 | (312,591.08) |
| Landmark American Ins Co | 38,183.00 | 967,787.73 |
| Landmark Ins Co | 4,429.00 | 2,229.88 |
| Lantana Ins. Ltd. | - | 169.00 |
| Lexington Ins Co | 14,307,366.54 | 14,626,899.76 |
| Liberty Mutual | 128,372.00 | <507,269.15/td> |
| Liberty Surplus Ins co | 184,647.86 | 294,733.00 |
| Lloyds of London | 19,972,851.37 | 33,544,339.15 |
| Maxum Ind. | 482,047.31 | 9,980.00 |
| Monticello Ins Co | 9,572.00 | (492.00) |
| Mt Hawley Ins Co | 791,010.00 | 649,553.06 |
| Mount Vernon Fire Ins Co | 934,164.44 | 1,046,082.28 |
| National Fire & Marine | 1,226,393.29 | 1,102,266.00 |
| Nautilus Ins Co | 451,785.94 | 546,264.76 |
| NIC Ins. Co. | 4,500.00 | 17,820.93 |
| Noetic Ins. | - | 220,712.99 |
| North American Capacity | 111,596.50 | 98,770.00 |
| Northfield Ins Co | 310,157.00 | 45,647.07 |
| Nutmeg Ins Co | 726,673.07 | 610,846.89 |
| Pacific Ins Co (CA) | 175,335.00 | 16,495.61 |
| Pacific Ins Co Ltd | 176,186.17 | 521,976.28 |
| Penn Star Ins Co | 189,120.00 | 797,336.84 |
| Philadelphia Ins Co | 10,585.00 | - |
| Preferred National Ins Co | 7,760.00 | - |
| Preferred Professional Ins Co | - | 5,761.63 |
| QBE International Ins | 130,953.00 | - |
| Royal Surplus Lines Ins Co | 1,925,775.85 | 969,329.30 |
| Savers Property & Casualty | 17,353.41 | 2,431.98 |
| Scottsdale Ins Co | 3,673,245.97 | 4,827,664.48 |
| Select Ins Co | 1,081,457.00 | 1,054,204.50 |
| Sirius International Ins Corp | 6,745.50 | (613.00) |
| Specialty Surplus Ins | 23,820.75 | - |
| SR International Business Ins Co Ltd | 91,707.06 | 59,263.76 |
| Steadfast Ins Co | 5,791,440.77 | 6,010,780.15 |
| Starr Excess Liability Ltd | 12,900.00 | 364,099.85 |
| St. Paul Reinsurance | 4,099.00 | - |
| St. Paul Surplus Line Ins | 4,051,231.32 | 2,433,230.93 |
| Terra Nova Ins Co Ltd | 45,144.00 | 46,571.00 |
| TIG Ins Co of Michigan | - | 43,950.00 |
| TIG Specialty ins | 223,486.00 | 47,139.00 |
| Travelers Excess | - | 632,060.95 |
| Tudor Ins Co | 205,861.75 | 296,660.50 |
| Underwriters for the Professions Ins. Co. | - | 3,775.00 |
| United Coastal Ins Co | 121,080.00 | 600.00 |
| United National Ins | 1,154,440.63 | 904,449.24 |
| USF Ins Co | 1,028,060.00 | 840,783.68 |
| USF&G Specialty | - | 29,971.29 |
| WASA International | 15,500.00 | - |
| Westchester Surplus Lines | 1,664,211.41 | 2,286,521.51 |
| Western Heritage Ins Co | 2,573,029.41 | 3,461,990.69 |
| Western World Ins Co | 125,330.49 | 2,213,509.00 |
| XL Select Ins. Col. | 1,026.40 | 109.32 |
| ZC Specialty Ins Co | 630,990.00 | - |
| Zurich International Ltd | 120,236.00 | 9,059.63 |
| Zurich Specialties London | 407,273.06 | 49,209.40 |
| TOTAL | $153,122,982.73 | $97,757,834.90 |