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Surplus lines insurance is booming, with double-digit direct premium growth for the last five years. Industry analysts predict this trend will continue with premiums reaching nearly $126 billion by 2027. Consequently, there’s never been a greater need for a robust compliance solution to manage increasing number of policies and higher premium amounts.
Step-by-Step Support for Surplus Lines Compliance
By bringing forms and procedures for all U.S. jurisdictions together in one place, our best-in-class tools provide a single, definitive source for information, empowering brokers to manage their policies efficiently.
And our concierge service means you have a dedicated team of E&S experts available to answer your questions about the non-admitted market and to process a wide range of compliance tasks on your behalf, including:
New Compliance Needs
Placing risks in the non-admitted market brings a host of additional compliance needs, which can be intimidating for industry newcomers. Some of these requirements begin as soon as regulators issue your E&S license, and they continue until you surrender that license appropriately. ReSource Pro Compliance’s experts are with you every step of the way, helping you navigate the complexities of this market with confidence.
Benefits of Delegating Surplus Lines Compliance Tasks
Brokers work faster and more accurately, driving greater profits and improving the customer experience.
Reduces Processing Delays and Regulatory Penalties
ReSource Pro Compliance ensures that policy information is complete and that premium tax calculations follow state rules. Then we submit filings and reports at the proper time, in the approved manner.
Careful vetting avoids over and underpayment of premium taxes and frees E&S brokers to focus on writing new business.
Maintains Data Integrity
ReSource Pro provides secure storage and 24/7 access to policy, filing, and report information, as well as audit support, if needed.