SLTX Outreach Positively Impacts Late Filings
Data from the Surplus Lines Stamping Office of Texas (SLTX) shows that the number of surplus lines policies filed with SLTX after the filing deadline has decreased since the start of the SLTX late filers outreach program.
In 2017, 993 brokers filed 489,540 total policies with SLTX. Of that total, 6,270 were filed late, resulting in only 1.28% of policies filed after the filing deadline, down from 1.92% in 2016.
Through the outreach program, which began in June, the SLTX Tech Support team provides educational resources and best practices to brokers who file surplus lines policies. In the first six (6) months of the program, there were 23% fewer late filed policies and 14% fewer brokers filed late. This resulted in 25% fewer fee dollars imposed in 2017, 35% fewer enforcement policy referrals, and 23% fewer brokers referred to enforcement.