Section 3.25.100. Quarterly report.

	(a)  The quarterly report required of a surplus lines broker by AS 21.34.170 may be filed electronically. Filing of the quarterly report must occur, or a paper filing must be postmarked, on or before the corresponding due date under AS 21.34.170. 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.  
	(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 penalty 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 penalty in (e) of this section does not apply to the filing of amended reports under 3 AAC 25.105, except for the filing of a new transaction not previously reported.  

Authorities

21.06.090;21.34.080;21.34.170;21.34.180;21.34.190;21.34.250

Notes

Reference

3 AAC 25.090

Authority

AS 21.06.090 AS 21.34.080 AS 21.34.170 AS 21.34.180 AS 21.34.190 AS 21.34.250

History

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 9/4/2014, Register 211