Special Notice to Surplus Lines Carriers

PURPOSE OF THIS NOTICE

The Oklahoma Insurance Department is requesting that all surplus lines carriers who write business in Oklahoma submit policy and premium information regarding the non-admitted insurance that was written in Oklahoma for the year 2024 and going forward.  This data is necessary to reconcile the premiums written by non-admitted insurance companies with the premiums reported by Oklahoma non-admitted filers (surplus lines licensees/brokers, self-procuring insureds, and risk purchasing groups).

Insurers will submit surplus lines policy and premium data to the Oklahoma Insurance Department via the SLIP system.  SLIP is accessible through the OID website at https://www.oid.ok.gov/regulated-entities/financial/premium-tax/.  Insurers can register for a SLIP account on the SLAS SLIP login page.  All surplus lines insurers will receive an email when their company’s SLIP account has been created.

Insurers have the following options for data submissions via SLIP: (1) manual data entry or (2) multiple policy submissions through an XML batch process.  Insurers reporting a relatively small number of policies are ideal candidates for manual data entry in SLIP, while insurers reporting numerous policies may prefer to submit data in XML batch format. Please contact the SLAS staff at batchfiling@slasclearinghouse.com to request more information on the batch filing process.

The SLAS Clearinghouse staff, on behalf of the Oklahoma Insurance Department, will reconcile the non-admitted insurance company data with non-admitted licensees/brokers, self-procuring insureds, and risk purchasing groups data that is submitted.  Please report the data as it appears on the declarations page. The following data elements are required for each policy submitted by insurers:

• Policy number;
• Insured;
• Name of the surplus lines licensees/broker or self-procuring insureds;
• Premium (100% of the premium for Oklahoma “Home State” policies); and
• Transaction effective date.

Surplus Lines Insurers writing business in Oklahoma will have until December 31, 2024, to report transactions effective January 1, 2024 – September 30, 2024. All transactions effective October 1, 2024, and after should be reported using the schedule below.

To summarize, all domestic and foreign insurer transactions, effective January 1, 2024 – September 30, 2024, should be reported in SLIP on or before December 31, 2024. Domestic and foreign insurer transactions effective October 1, 2024, and after should be reported quarterly using the reporting deadline schedule listed above. Alien insurer transactions, effective January 1, 2024 – December 31, 2024, should be reported annually on or before June 30, 2025.

For more information on insurer reporting or premium reconciliation, please contact the SLAS team at insurerservices@slasclearinghouse.com, or by phone at 877.267.9855.  You may also contact the Oklahoma Insurance Department at OKsurpluslines@oid.ok.gov.