Please note: Our new mailing address and contact information below, effective 10/01/2018:
Island Financial Insurance Associates, Inc.
(P) (215) 219-8600
Mailing Address:
PO Box 498
Solebury, PA 18963
FedEx Address:
512 Ridge Road
Telford, PA 18969
***NOTICE TO BROKERS: GEORGIA DEPARTMENT OF INSURANCE, PER BULLETIN 17-EX-1 DOES NOT ALLOW ANY INSPECTION AND/OR POLICY FEES UNLESS THEY ARE ADDED TO THE DEC PAGE BY THE INSURER.
Currently in Minnesota, stamping fees are assessed on the policy premium only. For policies effective on or after 1/1/2018, stamping fees shall be assessed on both policy premium and fees. This change does not apply to premium bearing transactions (endorsements, cancellations, audits) on policies effective prior to 1/1/2018.
UTAH – Any new or renewal policies with the effective date of 01-01-2018 and thereafter will be assessed the new stamping fee rate of .18. All endorsements will be assessed the same rate that the original policy was filed under.
| Policy Effective Date | Stamping Fee Rate* |
| 01/01/2018 & Thereafter | 0.125% or (.00125) |
| 01/01/2015 – 12/31/2017 | 0.2% or (.002) |
| 07/01/2006 – 12/31/2014 | 0.1% or (.001) |
| 01/01/1995 – 06/30/2006 | 0.3% or (.003) |
| 01/01/1988 – 12/31/1994 | 0.1% or (.001) |
| 08/01/1986 – 12/31/1987 | 0.2% or (.002) |
| 07/01/1985 – 07/31/1986 | 0.5% or (.005) |
| Prior to 07/01/1985 | No Stamping Fee Assessed |
Please note our new mailing address below, effective 4/21/2017:
Island Financial Insurance Associates, Inc.
16818 139th Ave E.,
Puyallup, WA 98374
STAMPING FEE RATE REDUCTION
The stamping fee rate for Minnesota will be reduced from .06% to .04% effective October 1, 2016. For ALL transactions effective on or after 10/1/2016, the rate of .04% of the policy premium will apply. This applies to all transaction types regardless of the original policy effective date.
For example, if a new policy was effective 6/1/2016, the .06% rate would apply to the premium generated at inception. If that policy was endorsed or cancelled with an effective date on or after 10/1/2016, the reduced rate of .04% would apply to the premium generated from the endorsement or cancellation. This applies to additional and/or return premium.
Please note: All policies with effective dates on or after October 1, 2016, and any subsequent endorsements, will be charged a Clearinghouse transactions fee of 0.175% of gross premium.
Effective October 1, 2015, Louisiana has withdrawn from the Non-Admitted insurance Multistate Agreement (NIMA). Please see Bulletin 2015-06. Surplus lines producers will no longer file multistate policies with the NIMA Clearinghouse for policies effective after September 30, 2015. Louisiana will tax all surplus line policies where Louisiana is the home state at the new rate of 4.85 percent.
The stamping fee for Idaho policies is scheduled to increase from .25% to .50%. All policies with an effective date on or after January 1, 2016 will be subject to the new rate. Endorsements and audits will be subject to stamping fee based on inception date of policy.
*** Please note – When reporting endorsements please make sure to put the effective date of the original policy, not the endorsement effective date on the transmittal page so the tax amount reflects the correct tax amount.