SLIP - The New Agent Reporting System
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Why a new system?
We have put in place a new agent reporting system in order to accommodate the processing of the new Mississippi Windstorm Underwriting Association (MWUA) nonadmitted policy fees which are assessed on specific coverages. Our old system could not break down the policies by coverages.
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I know nothing about how to use SLIP. Who will train me?
MSLA will host Webinars for SLIP beginning in January. An invitation will be sent out in next week’s e-alert and posted on several sites. The new MSLA website will also have tutorials for SLIP.
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Who can sign up for the SLIP Webinar Training?
All licensed MS surplus lines agents and any staff who are responsible for filing their policies.
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How do I access SLIP? Will I need a new username and password?
You will access SLIP through MSLA’s new website beginning January 22, 2008. No, you will not need a new username and password. YOU CAN USE THE SAME USERNAME AND PASSWORD USED IN THE OLD SYSTEM.
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When can I begin using SLIP?
January 22, 2008.
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Why January 22nd and not January 1st?
We are keeping our old system in place in order to allow agents to file their December 2007 Monthly Transaction reports which are due by January 15th. ALL DECEMBER 2007 REPORTS NEED TO BE FILED BY JANUARY 15TH. If you have policies effective in 2008, please wait and report them after January 22, 2008.
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As usual, in order to file a policy, I will need to have the dec sheet and the accompanying original affidavit mailed to MSLA with the monthly transaction report. What if I have a policy (with real property/contents coverage) written and effective in 2007 and I do not get the dec sheet until late January or maybe even February 2008. When I file this on a 2008 monthly transaction report in the SLIP, will it be subject to the new MWUA fee even though it was a 2007 policy?
No, the MWUA nonadmitted policy fee is not assessed on 2007 policies. SLIP will have business rules in place to only assess new and renewed policies applicable to the fee effective January 1, 2008 and thereafter. This issue will be covered during the training through the Webinars.
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What if I have an endorsement effective in 2008 for an original 2007 policy? Will that endorsement be subject to the MWUA fee?
No, the MWUA nonadmitted policy fee is assessed on new and renewed policies effective 2008 and thereafter. Endorsements to policies originating before 2008 will not be assessed the MWUA fee. This issue will be covered during the training through the Webinars.
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