The goal of the Association is to help the State of Utah Insurance Commissioner in the collection of premium tax and to supervise surplus line producers with respect to the writing of non-admitted surplus lines insurance business in Utah. Endorsements and Submissions are all in one place! We are providing a three 3 hour CE class at no cost to surplus line producers.
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Persons seeking insurance may obtain the insurance from an unauthorized insurer if no agent or broker resident doing business in Utah is involved and if negotiations occur primarily outside Utah. Utah law requires that premium tax be paid for insurance written on all risks located in Utah. A stamping fee (processing fee) is also due.
No, Utah does not require any annual or quarterly reports. You are to file all business written with the Surplus Line Association of Utah within 60 days of the effective date of the policy. Monthly statements will be emailed and payments must be received by the 25th of each month. With built-in technology to automate compliance reviews, the InsCipher Program will also increase staff efficiencies and provide the immediate status of your submission along with a detailed invoice.There are two major divisions of the property and casualty insurance marketplace.
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