Surplus Lines Tax Filing Services
From initial policy reporting to excess and surplus lines insurance tax filings, we understand your surplus lines compliance needs.
Elevate Global utilizes the latest cloud software along with the best in insurance compliance practices so that our clients experience the easiest, most seamless, and accurate E&S compliance reporting.
Elevate Global gives you the ability to sell more excess and surplus lines policies without the added stress of maintaining insurance compliance. And we save you time over our competitors - unlike with them, you don't need to waste your time uploading any forms - we automatically download the policies direct from your system for you!
Never stress about regulatory compliance requirements, ever-changing tax rates, or missed deadlines again!
Surplus lines compliance is complicated, with each state and territory having their own deadlines, fees, forms, and filing processes. The cost of not paying attention to surplus lines compliance is high and can result in steep penalties and fees, and even the loss of surplus lines licenses if not properly addressed.
Use our experienced and highly-trained staff at Elevate Global to make sure you meet your compliance obligations, save your business millions of dollars in penalties and fines, and free up your time so that you can focus on what you do best: growing your business.
Learn how you can keep your E&S business compliant with local insurance laws.
Let us manage surplus line compliance, so you can grow your business.
After an E&S policy has been written, it must be filed in the state where the policy is written. Since there is no federal regulation for excess and surplus lines policies, each state creates its own specific rules for surplus lines filing and reporting.
Once a policy is filed, taxes and stamping fees must be paid to the appropriate state offices. Surplus lines payments can be due either monthly, quarterly, or annually, with reporting submission methods varying by the state as well. It can get more complicated in states such as Kentucky, where surplus lines tax rates are assessed based on individual municipalities where the risk is located.
Once you’ve filed the surplus lines policy and paid the appropriate surplus lines taxes, in most states you must also file a separate report summarizing all the policies you’ve submitted in a given period. This reporting period will vary by state and can either be monthly, quarterly, semi-annually, or annually.
Elevate Global tracks all your E&S reporting requirements across all states and territories so you don’t have to. We take care of the surplus lines filings, reporting, and payments for you. Let our surplus lines filing team, using the latest cloud-based surplus lines software, manage your policy and reporting deadlines for you.
Contact us today to learn how you can keep your E&S business compliant.