TN| The Tennessee Department of Commerce and Insurance issued Bulletin 25-01 to all non-admitted insurers doing business in Tennessee, outlining new reporting requirements for surplus lines insurance policies effective from 2024 onwards. The bulletin aims to reconcile premiums written by non-admitted insurers with those reported by surplus lines filers in Tennessee.
Key Points:
- Mandatory Data Submission: Non-admitted insurers must submit policy data through the Surplus Lines Information Portal (SLIP) for reconciliation, including details like policy number, insured name, agent name, premium amount, and transaction date.
- Reporting Deadlines: Foreign insurers must file quarterly reports starting March 31, 2025, while alien insurers must file annually by June 30 for the preceding year.
- Submission Methods: Insurers can report data manually or via XML batch processing, depending on the volume of policies.