Insurance Licensing Services of America, Inc. (“ILSA”) Gets Latest Ruling on Third-Party Surplus Lines Policy Filing in Texas
Groesbeck, TX (PRWEB) July 10, 2013 -- Earlier this year, ILSA’s Chief Executive Officer, Arleen Taveras and Chief Operating Officer, Ted Taveras, along with other key individuals of ILSA’s management staff, met with various personnel of the Texas Department of Insurance and the Texas Comptroller’s Office, to communicate the common concerns expressed by Texas Surplus Lines (SL) Agents with regards to filing and reporting Surplus Lines policies. ILSA executives were asked to provide a comprehensive outline of the administrative functions that would be performed on behalf of TX Surplus Lines Agents. Throughout the months following, ILSA continued to follow up with matters concerning the final ruling on Third-Party Policy Filing.
ILSA is now thrilled to announce that it has finally received the green light from TDI to report Surplus Lines policies to the Stamping Office on behalf of TX Surplus Lines Agents. Bulletin number SO-2013-08 of June 28, 2013 states that, an agent is not prohibited from entering into an agreement whereby another entity provides the routine administrative services necessary for required filings with the Stamping Office. This momentous change in Texas regulation will finally permit ILSA to provide the assistance that many TX Surplus Lines licensees have been waiting for. ILSA has assisted Surplus Lines agents/brokers with the filing, tracking and reporting of Surplus Lines policies in all states with the exception of Texas and Mississippi, since 2004.
This successful conclusion is attributed to many attempts made by ILSA over the years, to pursue the support of the TDI and other regulatory offices; to allow third parties to assist TX licensed SL agents with the administrative burdens of filing and reporting SL policies. Moreover, by providing these unique services, it will undoubtedly strengthen the revenue stream to each regulating body.
About ILSA:
Insurance Licensing Services of America, Inc., is a complete insurance licensing and compliance provider offering over 50 services including: licensing, license renewals, CE tracking, surplus lines reporting & tax filings, and Secretary of State filings. ILSA was founded in 1997 by Ted & Arleen Taveras who saw a clear need for a centralized licensing and compliance solution for agents and agencies struggling to navigate the complex regulatory environment. Videos highlighting ILSA’s many services are available on their corporate website: http://www.ilsainc.com.
Lisa Miklojachak, Insurance Licensing Services of America, Inc., http://www.ilsainc.com, (254) 729-8002 6143, [email protected]
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