Section 3 AAC 25.100 - Quarterly report(a) The quarterly report required of a surplus lines broker by AS 21.34.170 shall be filed electronically in the location required by the director. Filing of the quarterly report must occur on or before the corresponding due date under AS 21.34.170. The quarterly report must be signed by the surplus lines broker. The signature may be an electronic signature. If no transactions took place during the period, a report is not required for that period. The quarterly report must be signed by the surplus lines broker. If no transactions took place during the period, a report is not required for that period.
(b) The quarterly report must include (1) the name of the surplus lines broker; (2) the surplus lines broker's license number; and (3) the quarterly period's total gross premiums written, less any return premium or any exempt premium, and the quarterly period's total resulting taxes and fees for all coverage where this state is the home state of the insured. (c) The quarterly report must include the initial placement of coverage as well as changes in coverage during that period that result in an increase or decrease of premiums, taxes, or fees. The surplus lines broker shall use the effective date for the initial placement of coverage. Initial placement of coverage includes new and renewal transactions(d) A surplus lines broker shall use the date the endorsement is invoiced as the transaction date for an endorsement that generates an increase or decrease in premium. (e) A surplus lines broker shall pay a pena ty to the division for the late filing of a quarterly report according to the following rate schedule for filing after the due date requirement in AS 21.34.170 and (a) of this section: (1) one through 30 days late, $ 100; (2) 31 through 60 days late, $200; (3) more than 60 days late, $300.(f) The penally in (e) of this section does not apply to the filing of amended reports under 3 AAC 25.105, except for the filing or a new transaction not previously reported.Eff. 8/28/91, Register 119; am 3/11/98, Register 145; am 6/11/2006, Register 178; am 7/25/2008, Register 187; am 12/28/2008, Register 188; am 12/20/2020, Register 211, October 2014; am 12/20/2020, Register 236, January 2021 ; am 12/23/2021, Register 240, January 2022Authority:AS 21.06.090
AS 21.34.080
AS 21.34.170
AS 21.34.180
AS 21.34.190
AS 21.34.250