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(a) The original and one copy of the monthly premium report summary required of a surplus lines broker by AS 21.34.170 must be submitted to the division at its Juneau office, and must be postmarked on or before the last working day of each month. The report must include all surplus lines insurance transactions of the previous calendar month for each nonadmitted insurer with which surplus lines coverage was placed. If no transactions took place during the month, the report must be completed with a statement that no transactions occurred during the month being reported, signed as required, and filed on or before the due date.
(b) The monthly premium report summary must include, for each nonadmitted insurer with which surplus lines coverage was placed,
(1) the name of the surplus lines broker;
(2) the surplus lines broker's license number;
(3) the total gross premiums charged, less any return premium, and resulting taxes and fees, by policy type code;
(4) the month's total gross premiums charged, less any return premium, and the month's total resulting taxes and fees; and
(5) the notarized signature of the surplus lines broker.
(c) The monthly premium report summary for each nonadmitted insurer must include each transaction of the previous calendar month. A report must include the initial placement of coverage as well as changes in coverage during that month which result in an increase or decrease of premiums, taxes, or fees.
History: Eff. 8/28/91, Register 119; am 3/11/98, Register 145
Authority: AS 21.06.090
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Last modified 7/05/2006