Stamping Fee
The services performed by the SLA are funded by a stamping fee assessed for each declaration page, covernote, or other documents bearing premium submitted to the SLA. The fee is based on a percentage of the premium charged. The stamping fee percentage is determined by the Stamping Office and Contact Committee, and approved by the Executive Committee. The stamping fee rate has varied from 1/10 of 1% (or .1%) to 5/10 of 1% (or .5%) over the last 20 years. See below for a schedule of stamping fee rates.
Payment of Fee
Each month, all surplus line brokers receive a monthly invoice that must be signed and returned to the SLA. For the filing broker, the invoice shows the outstanding stamping fee(s) and is accompanied by a detailed policy activity report listing all the documents that were processed for the proceeding month. The filing broker must return the invoice with a check for fees due immediately.
If the monthly stamping fee is a negative amount (as a result of return premiums, cancellation of policies, adjustments and/or corrections to filings), it will be credited to the broker’s account or refunded upon request.
Should there be a discrepancy and/or adjustment on an item billed, the broker should pay the billed amount and clearly document where the discrepancy occurred on the policy detailed activity report. The adjustment will appear on the month the correction was made.
If any surplus line broker is more than 60 days delinquent in the payment of such fees, a series of follow up letters will be sent for continued outsanding fees before the matter is referred to the California Dept. of Insurance.
Schedule of Stamping Fee
Policy Effective Date Stamping Fee Rate
January 01, 2009 .225%
January 01, 2008 to December 31, 2008 .125%
January 01, 2007 to December 31, 2007 .125%
January 01, 2006 to December 31, 2006 .175%
January 01, 2004 to December 31, 2005 .225%
January 01, 2003 to December 31, 2003 .125%
January 01, 2001 to December 31, 2002 .25%
January 01, 1996 to December 31, 2000 .35%
January 01, 1994 to December 31, 1995 .5%
April 01, 1993 to December 31, 1993 .35%
January 01, 1991 to March 31, 1993 .2%
January 01, 1987 to December 31, 1990 .1%
March 01, 1986 to December 31, 1986 .2%
January 01, 1984 to February 28, 1986 .3%
January 01, 1977 to December 31, 1983 .2%