IN | The Indiana Commissioner of Insurance has received a request to consider eliminating the requirement of monthly surplus lines reports when no business has been placed. After reviewing the request with the Department’s General Counsel, it has been concluded that there was no statutory requirement for this filing. In addition, the Chief Financial Examiner advised that this report added no value to the Financial Services Division’s regulation of surplus lines premium tax. The Commissioner has agreed to eliminate this inefficient regulatory requirement; therefore this change is effective immediately. Annual surplus lines tax reports with no placed business will still be required.
For questions, contact Janet Scott at email@example.com or (317) 233-9998.