TDI Commissioner Approves SLTX Stamping Fee Decrease

On October 31, 2023, Texas Department of Insurance Commissioner Cassie Brown signed an Order decreasing the stamping fee from the current rate of .075% to .04%. The fee reduction aligns with the recommendation submitted to the Commissioner by the SLTX Board in March 2023. The new fee will become effective January 1, 2024.

By close of business, November 2, 2023, SLTX will accept filings with an effective date of 01/01/2024 or later. SLTX will resume acceptance of transactions with the standard lead time of 90 days. SLTX does not expect any late filings to be generated given the January 1st timing of the fee change and the standard 90-day lead-time.

The new stamping fee rate will apply to new or renewal surplus lines policies with an effective date on or after January 1, 2024. It will also apply to policy date extensions on or after this date. Policies effective on or before December 31, 2023, will run to expiration, cancellation, or next annual anniversary date (for multi-year policies) at the existing rate of 0.075%. This includes any subsequent endorsements, audits, cancellations, reinstatements, installments, and monthly or quarterly reports.