2013 Annual Late Filing Report

By now, you will have received the last of the monthly late filing reports for 2013. It is very important that you review all of these reports carefully for any transactions you believe are appearing in error. If you file using the Electronic Filing System (EFS), you should use the “Correction Re-Entry tieback” option for any necessary corrections. If you file by paper, you will need to provide us with appropriate documentation to confirm the item in question is not late so it can be adjusted before the annual report is run. If you delay too long before resolving these “false-positive” transactions, it will be too late to have them resolved. They must be resolved prior to the running of the annual late filers report. The annual late filers report will be run March 7, 2014.

Effective May 28, 2011, Texas Insurance Code Section 981.105 specifies the regulatory remedies the Commissioner may take for late-filed surplus lines policies. Section 981.105 provides two authorized remedies for surplus lines agents who file policies late: fees and enforcement actions. These will be determined from the 2013 annual late filing report.