WA STATE SURPLUS LINES NEW FILING LAW EFFECTIVE 7.1.14 – FOR WA FILINGS ONLY

FOR WA STATE FILINGS ONLY ~

Attention Agents, Brokers and Program Administrators

As you are aware from prior bulletins, true courtesy filings (where no Washington licensed surplus line broker is actually involved in the procurement of coverage and a filing is being made after the fact) will no longer be allowed as of July 1, 2014.

Courtesy filings will still be allowed (meaning the filing of policies for another licensed person) as long as coverage was procured by a Washington licensed resident or non-resident surplus line broker. It will be the responsibility of the filing broker to have documentation showing a Washington licensed resident or non-resident surplus line broker was involved in the procurement of coverage.

This rule change is effective July 1, 2014. This allows time for persons writing surplus lines coverage’s in Washington to obtain either their resident or nonresident surplus line licenses. Nonresident licensing of surplus line brokers is a simple process and a test is required for residents.

Please let me know if you have any further questions.

Best regards,

Gary Galeotti

President ~ Island Financial Insurance Associates Inc.

www.ifia-inc.com