ID| Idaho SLA Bulletin, dated January 16, 2025, provides updates and reminders for surplus line brokers in Idaho. It includes a white list update with the addition of AzGuard Insurance Company, effective December 24, 2024. The bulletin also emphasizes the importance of submitting annual premium tax statements electronically by March 1st to avoid penalties. Here are key points summarized in three bullet points:
- White List Update: AzGuard Insurance Company has been added to the white list with an NAIC number of 16495, effective December 24, 2024.
- Annual Premium Tax Statements: Brokers must submit annual premium tax statements electronically through TriTech by March 1st. Failure to do so will result in penalties starting April 2nd.
- Late Fees and Penalties: Late fees include $25 per day for late tax reporting, $25 monthly for unpaid stamping fees, and $10 weekly for uncorrected flagged submissions. Additionally, there is a $20 fee for processing paper checks.