Stamping Office Overview
On January 1, 2017, the Surplus Lines Association will begin the operation of the NC Surplus Lines Stamping Office. North Carolina Insurance Statute §58-21-40 requires all NC Surplus Lines Licensees (resident & non-resident) to be a member of the NC Surplus Lines Association to retain your license and to allow your office to access the new NC Surplus Lines Information Portal, or SLIP, filing system. In cases where there are multiple NC Surplus Lines licensees in one office, all licensees will be required to be a member of the NCSLA before the office is granted access to the SLIP system.
- Any licensee who does not comply with the requirements of the statute will be subject to having their NC license cancelled and will be denied access to the tax filing system.
- The NCSLA is scheduled to turn on the SLIP registration process during the first week of December 2016. All licensees will be notified by email (using the email address the licensee provided to the NCDOI) that the registration process has been activated. The registration process will allow the licensee, or their designated representative, to register for the SLIP system. The NCSLA will notify the licensee, or their representative, of their log-in 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 using the NCSLA SLIP system. Only exceptions are “Purchasing Groups” and “Independent Procurement policies” which will be handled by the NC Department of Insurance as they have been 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 that they process will not apply to the new and renewal business with effective dates beginning on 01/01/2017, and endorsements on these policies.
- All new filings and renewal policies with an effective date leading up to 12/31/2016, and endorsements on the filings processed by the NCSLA will be subject to the current 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 2017, and the taxes have been paid annually, will be treated as a new policy and filed as such in the SLIP system in 2017.
- Any Multiple Year policy that has an effective date leading up to 12/31/2016, and the entire premium was paid in advance, will be handled under the current filing procedures and will not be subject to the SLIP system until the policy is renewed.