Stamping Fee

Related Information

Stamping Fee FAQ

  1. When are stamping fees due and payable and by whom?
  2. What are the stamping fee amounts?
  3. Is it acceptable to prepay stamping fees?
  4. What is a stamping fee and how is it determined?
  5. I have stamping fees in my accounts payable why haven’t I been invoiced for them since I have submitted my 1620 monthly report?
  6. Why didn’t I receive a statement of account?
  7. Can I send one check for multiple customer ID’s?
  8. Do I have to send a copy of our statement of account with our check?
  9. What do I need to submit if I am not paying the statement in full?
  10. Can we send two separate checks, one for the stamping fee and the other for the late stamping fees?
  11. Why is a filing from the prior statement period still on our account?
  12. Did we pay for this filing or this statement of account?
  13. Who do we make the check payable to?
  14. What if we filed under the wrong customer ID#, can you fix it for us and will we get a stamping fee for both?

 

1.  When are stamping fees due and payable and by whom?

  • An email notification will be sent to the BL contact (individual responsible for the Monthly Statement of Account as designated in the PSLA Electronic Filing System) for each Surplus Lines Agency by Customer ID number.
  • The fee is due and payable in full no later than the 25th of the following month for the fees due on that statement.

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2.  What are the stamping fee amounts?

  • For insurance placements effective on or after January 1, 2017 the stamping fee for filings received within 45 days of the effective date of the placement will carry a stamping fee of $20.00 per filing.
  • For insurance placements effective on or after January 1, 2017 the stamping fee for filings received after 45 days of the effective date of the placement will carry a stamping fee of $45.00 per filing.
  • Refer to the 10/14/2016 Bulletin for the complete stamping fee schedule.

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3.  Is it acceptable to prepay stamping fees?

  • PSLA’s arrangement with PID is that we only earn a stamping fee when the record is entered into the Electronic Filing System database.  Therefore, DO NOT PREPAY stamping fees.

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4. What is a stamping fee and how is it determined?

  • The services performed by PSLA are funded by a processing fee (stamping fee) assessed for each filing submitted to PSLA.  The stamping fee is established by the Board of Governors of PSLA on a yearly basis and approved by PID.

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5. I have stamping fees in my accounts payable why haven’t I been invoiced for them since I have submitted my 1620 monthly report?

  • The 1620 monthly report is a signed verified report of all Pennsylvania surplus lines insurance premium activity transacted during the said month by Surplus Lines Licensee and it is just that a report. All filings and associated additional and return premium activity must be entered in the Electronic Filing System. Once the filing information is in the database, a statement of account will be generated.

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6. Why didn’t I receive a statement of account?

  • A statement of account is generated after filings are successfully entered in the database.

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7. Can I send one check for multiple customer ID’s?

  • One check must be sent for each customer ID.

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8. Do I have to send a copy of our statement of account with our check?

  • A copy of the PDF statement of account must be sent with each check.

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9. What do I need to submit if I am not paying the statement in full?

  • If you are not paying the statement of account in full, an explanation must be attached to the statement of account. This will be followed up with you, the Licensee as well as with our Data Services Department. Be advised, should a Licensee not remit the stamping fee without cause, the Licensee will be reported to the Pennsylvania Insurance Department as deemed by our contract with the Department.

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10. Can we send two separate checks, one for the stamping fee and the other for the late stamping fees?

  • A separate check can be sent for the stamping fees and the late stamping fees. Please state on the check what fee is being paid with that check.

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11. Why is a filing from the prior statement period still on our account?

  • PSLA is an open item statement. A filing may still be on the statement of account because the payment was not received or the payment was received after the month-end close date.

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12. Did we pay for this filing or this statement of account?

  • Please login to the Electronic Filing System. Select under Administration, “View Statement of Account”. Enter your customer ID # and the payment history is available for viewing.

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13. Who do we make the check payable to?

  • All checks are made payable to the “Pennsylvania Surplus Lines Association.”

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14. What if we filed under the wrong customer ID#, can you fix it for us and will we be charged a stamping fee for both?

  • The Licensee should Inactivate the filing under the incorrect Customer ID.
  • The Licensee should Submit a new filing under the correct Customer ID.
  • There is a stamping fee for the original incorrect filing and a stamping fee for the new filing.

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