The Maryland Insurance Articles regarding the method by which certain documents can be filed regarding placement of surplus lines insurance by a surplus lines broker were recently amended to permit the filing of a report, affidavit or return electronically, effective for the month ending January 31, 2007, according to a recent bulletin issued by the state.
To assist with this change, the Surplus Lines Affidavits, the related Premium Reports and Semi-Annual Surplus Lines Broker Gross Premiums Receipt Tax Report may be downloaded from the Administrations website, under "Download forms" in the Producer Services section.
Surplus lines brokers may also submit information in an alternative format, as long as the same information is provided. Reports can be emailed in either PDF, Word, or Excel format, to the Administration at email@example.com.
Additionally, the administration amended state codes on Surplus Lines Affidavits to eliminate the requirement that a copy of the policy, cover note, certificate of insurance, memorandum of coverage, endorsement, cancellation, binder, or other initial confirmation and documentation of the coverage be filed with the Affidavit.
The Affidavit has been revised and now will require surplus lines brokers to attest that the requirements contained in Section 3- 306 of the Insurance Article have been met for all coverages placed with surplus lines carriers during the monthly reporting period. Additionally, a summary report of the coverages placed and the related premiums must be filed with the Affidavit.