Commissioner of Insurance to Review Recommendation to Reduce Stamping Fee for SLTX
The Texas Department of Insurance has provided a notice of recommendation by the Surplus Lines Stamping Office of Texas Board of Directors regarding a decrease in the stamping fee from the current rate of 0.15% of gross premium to 0.075%. Surplus lines agents provide stamping fee payments to the stamping office which in return funds operations within the organization. The final decision will belong to the Commissioner of Insurance to approve any changes made to the stamping fee.
TDI will be accepting public comments regarding the stamping fee decrease as well as the date for which the decrease will go into effect.
A copy of the recommendation and associated documents can be found here.
The Texas Department of Insurance will also accept written comments regarding the decrease of the stamping fee, but they must be submitted before 5 PM, Central Time, on August 27, 2020. Comments can be sent via mail (Office of the Chief Clerk, MC 112-2A, Texas Department of Insurance, P.O. Box 149104, Austin, Texas 78714-9104) or email (ChiefClerk@tdi.texas.gov)