Illinois announces increase in stamping fee

On Wednesday, the Surplus Line Association of Illinois announced the stamping fee will increase from .1% to .2% for all policies effective January 1, 2015 and thereafter. If an endorsement is issued after January 1, 2015, the stamping fee should be calculated at the rate in effect at the inception of the policy. Therefore, for endorsements on policies issued prior to January 1, 2015, the stamping fee should be calculated at .1% but endorsements on policies issued on or after January 1, 2015, the fee should be calculated at .2%.

For additional information or questions, contact the Surplus Line Association of Illinois.