Insurance Licensing Services of America planned to unveil CATT, our new Surplus Lines Calculator and Tax Tool in April. But in the midst of the massive business disruption caused by the COVID-19 pandemic, launching a new product seemed a little tone-deaf. Still, after careful consideration and based on the positive feedback we’ve already received from our surplus lines clients (who’ve been using CATT since October 2019), we’ve decided to make this first-of-its-kind, comprehensive surplus lines compliance tool available to everyone for 60 days … at no cost. We hope that CATT will help brokers struggling to work remotely access the resources they need to stay compliant.
Unlike other tax calculators, CATT brings together all the resources brokers and producers need for all fifty states, the District of Columbia and Puerto Rico in one place. Insurance professionals can enter basic policy information and immediately receive a detailed breakdown of taxes and fees owed to state regulators. The CATT Premium Edition offers additional features including access to state-specific forms, filing instructions, state stamp/notice language and formatting instructions, and filing and tax due dates. Users can also see state export lists, lists of eligible insurers and state tax and fee payment instructions, where applicable.
CATT is the end product of over 15 years of experience handling surplus lines compliance. ILSA was one of the first to offer full-service surplus lines filing and tax reporting as a third-party vendor. We continue to work with state regulators and surplus lines associations, such as ELANY, to provide innovative tools and information resources for the insurance industry.
Surplus lines brokers and producers can sign up for a free 60-day trial of CATT starting on April 1, 2020. CATT Premium will also be available on a subscription basis. Additionally, ILSA’s surplus lines tax experts are available to consult with users who find they need further assistance with surplus lines filings and tax reports.
Click here to learn more about CATT and CATT Premium.