Texas Surplus Line Stamping Fee Rate to Increase Jan. 1

The surplus lines stamping fee rate in Texas will increase next year to 0.15 percent of the gross premium amount of surplus lines insurance policies, the Surplus Lines Stamping Office of Texas (SLSOT) reported.

The increased stamping fee rate will apply to each new or renewal surplus lines policy with an effective date on or after Jan. 1, 2016.

The new rate will also apply too policy date extensions if effective on or after this date. Policies effective on or before Dec. 31, 2015, will run to expiration, cancellation, or next annual anniversary date (for multi-year policies) at the old rate of .06 percent.

This includes any subsequent endorsements, audits, cancellations, reinstatements, installments, and monthly or quarterly reports.

The stamping fee rate is determined by the Texas Department of Insurance.

Source: SLSOT