NIMA Surplus Lines Clearinghouse Begins Phase II Release of Filing Platform
Sep 24, 2012
The Non-Admitted Insurance Multi-State Agreement (NIMA) Surplus Lines Clearinghouse announced today, September 24, 2012, that it is beginning the Phase II release of its filing platform, which includes customer invoicing, additional reporting tools and an electronic payment portal for tax payments to be released at the end of the quarter.
On October 1, 2012, customers who reported business to the Clearinghouse between July 1, 2012 and September 30, 2012 will receive invoices and corresponding billing reports for the transactions submitted in the third quarter. Customers will have the ability to pay the invoices electronically via ACH transaction using the “Pay Invoices” tab in the Surplus Lines Information Portal (“SLIP”). Additionally, customers will be able to generate reports in SLIP to review and reconcile the transactions reported to the Clearinghouse. The complete press release regarding the Phase II implementation and the Clearinghouse platform is attached to this email.
To assist customers in navigating the changes in invoices, payments and reporting in SLIP, the Clearinghouse is hosting a Webinar titled Surplus Lines Clearinghouse Payments and Reports on Thursday, September 27th at 3:00 p.m. (ET). Customers may register for the Webinar by visiting https://www2.gotomeeting.com/register/948812986.
The Clearinghouse staff is also working diligently to update website FAQs, tutorials, videos, and user manuals in preparation for the Phase II release. Those changes will be posted this week to the Clearinghouse Website, www.slclearinghouse.com.
To contact the Clearinghouse office call (877) 267-9855 or email at info@slclearinghouse.com.
The Clearinghouse news release is reprinted below.
Should you have any questions or comments, please contact Colodny Fass& Webb.
Surplus Lines Clearinghouse Delivers with SLAS Technology at the Helm
The Surplus Lines Clearinghouse (Clearinghouse) is proud to announce the Phase II release of the Clearinghouse filing platform, which includes customer invoicing, additional reporting tools, and an electronic payment portal for tax payments to be released in the coming month. The Clearinghouse, which officially launched its operations on July 1, 2012, received its first multi-state policy filing on July 3 and has continued to receive both registered filers and policy submissions on a consistent basis.
“As we approach the end of our first quarter of data collection, we remain committed in our pursuit to provide a simplified reporting process through the proven technology utilized by the Surplus Lines Clearinghouse,” said Clearinghouse manager Tiffany Maruniak. “It is our belief that our system provides a user-friendly approach to policy filings while creating the first standardization for uniform filing nationwide.”
The implementation of the Clearinghouse was the first step in achieving a singular approach in the reporting of surplus lines policy data as six states (Florida, Louisiana, Puerto Rico, South Dakota, Utah, and Wyoming) now collect multi-state policy data using uniform data elements and solitary filing platform. With more than 300 SLIP users, the Clearinghouse has processed more than $17.9 million in reported premium through 230 policies as of September 11, 2012.
Powered by the Surplus Lines Automation Suite, or SLAS, the Clearinghouse provides surplus lines brokers and independently procured coverage filers with the ability to file surplus lines policy information utilizing standardized data elements and in accordance with the requirements of the Non-Admitted and Reinsurance Requirement Act (NRRA) passed by Congress in 2010.
The Surplus Lines Clearinghouse uses two main components of SLAS: Surplus Lines Information Portal (SLIP), which allows brokers to report policy data, and the Regulatory Administration Platform of Insurance Data (RAPID), which allows the Clearinghouse and state regulators to view the policy data filed through SLIP.
In conjunction with the Clearinghouse, SLAS serves as the premier filing and regulatory platform for five stand-alone states including Florida, California, Mississippi, Nevada and Washington, which use its technology to process surplus lines policy filings. Through these five states and the Clearinghouse, the SLAS system currently processes more than 35% of the nation’s total surplus lines premium volume.
With SLAS at the helm, the Clearinghouse filing portal provides users with the ability to submit policy information 24 hours a day, seven days a week. As a convenience, the system offers the option of entering each transaction individually or uploading a large quantity of transactions via the XML-based batch upload function.
Brokers and independently procured coverage filers are reminded to register as a Clearinghouse user in order to file transactions. This simple online process takes less than five minutes to complete. To register, visit www.slclearinghouse.com and click on the large SLIP icon. Then click on the “Register” option and complete the name and address fields. Brokers and agents must also provide a National Producer Number in order to begin policy filing.
The Clearinghouse website also includes multi-state tax calculator to help users quickly and accurately understand the tax liability on any transaction scenario where the Home State is a NIMA participating state without actually submitting the transaction. The Clearinghouse website also features video tutorials that guide system users through every aspect of filing, automated tax calculation, and the e-payment function. For more information, please visit www.slclearinghouse.com.
About the Surplus Lines Clearinghouse
The Surplus Lines Clearinghouse (Clearinghouse) is a service of the Florida Surplus Lines Service Office. The Clearinghouse’s mission is to provide surplus lines brokers and agents with an easy-to-use method of reporting data with uniform filing requirements across all states that use its system, and to provide state regulators with a reliable source of filing information, verifiable accounting, and automated tax collections. Please contact our office at (877) 267-9855 or email us at info@slclearinghouse.com if you need assistance or have any questions.
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