Stamping Office Overview
On January 1, 2017, the NCSLA will begin the operation of the North Carolina Surplus Lines Stamping Office. All North Carolina surplus lines licensees (resident and non-resident) must join the NCSLA to retain a surplus lines license and allow access to the SLIP filing system. In cases where there are multiple North Carolina surplus lines licensees in one office, all licensees will be required to be members of the NCSLA before the office is granted access to SLIP.
- Any licensee who does not comply with the requirements of the statute will have their North Carolina surplus lines license cancelled and will be denied access to SLIP.
- The registration process will allow the licensee, or their designated representative, to register for SLIP. The NCSLA will assign the licensee, or their representative, a login and password as soon as their license and membership in the NCSLA have been verified.
- Beginning on January 1, 2017, all new and renewal policies with an effective date beginning on 01/01/2017 and endorsements on these policies, must be filed through SLIP. The only exceptions are “Purchasing Groups” and “Independent Procurement policies” which will be processed by the NCDOI as they have been processed in the past.
- The NCSLA will charge a 0.4% Stamping Fee on all new policies and renewals with an effective date following 01/01/2017, and endorsements on these filings.
- The current filing fees charged by the NCSLA for the policies processed prior to 01/01/2017 will not apply to the new and renewal business with effective dates on or after 01/01/2017 and endorsements on these policies.
- All new filings and renewal policies with an effective date prior to 01/01/2017 and endorsements on such filings, processed by the NCSLA, will be subject to the filing fees of $110 for new, and $50.00 for any A/P endorsements. The 0.4% Stamping Fee will not apply to these filings.
Multiple Year Policies
- Any renewal of a multiple year policy that was written prior to 01/01/2017 (and for which taxes have been paid annually), will be treated as a new policy and filed as such in SLIP in 2017.
- Any multiple year policy that has an effective date prior to 01/01/2017 (and for which the entire premium was paid in advance), will be handled under the old filing procedures and will not be processed through SLIP until the policy is renewed.