Yes, agents who have written Surplus Lines business in Mississippi and need to report their policy data must have a SLIP USER Name and Password in order to submit policy data electronically.
Yes, supporting documentation in the form of a Dec Page or an Endorsement must accompany the policy data that is submitted into SLIP.
The Declaration Page(s) must include the following: the name of the surplus lines insurance producer, the policy number, name of the insured, effective and expiration dates, premium, policy fees, the name of the insuring company and the Mississippi Notice Stamp. Endorsements should be inclusive of all of the above except for the surplus lines insurance producer’s name and the Mississippi Notice Stamp/Notice to Policyholder.
It is the responsibility of the licensee to obtain and stamp the Notice to Policyholder on the Dec Page. The language is as follows: “NOTE: This insurance policy is issued pursuant to Mississippi law covering surplus lines insurance. The company issuing the policy is not licensed by the State of Mississippi, but is authorized to do business in Mississippi as a nonadmitted company. The policy is not protected by the Mississippi Insurance Guaranty Association in the event of the insurer’s insolvency.”
Filings should be submitted on a monthly basis.
Our preferred method is for the documents to be uploaded into SLIP. To learn how to upload the documents into SLIP, please see the Electronic Document Submission Tutorial.
If at this time you are unable to upload the documents into SLIP please mail the physical copies and the first page of the MTR, to assist in identifying the agent, to:
MSLA 504 Keywood Circle
Flowood, MS 39232
In the event two or more insurers participated in writing a risk, the premium will need to be reported under the respective insurer and documentation such as the Declarations Page/Endorsement and/or the Schedule of Insurers will need to accompany the filing.
In the event a binder is submitted to MSLA, the member shall submit copies of the Declarations Page or Cover Note to the Association promptly upon receipt.
All policy data reported into SLIP during a given month must have the supporting documents uploaded (or mailed) within 15 day of the following month. This includes certification of your MTR.
The earliest the certification of the MTR is the 1st day of the following month in which policy data has been entered into SLIP. You cannot certify your report prior to this date.
MSLA requires an agency to report any acquisitions. To transfer policy data that has been reported in SLIP under one agent’s surplus lines license to another must be a written formal request. The letter should be on letterhead of the acquiring company, should include the details of the transference, such as which files to transfer, the name and surplus lines license number of the appointed agent, and the agent of record’s letter accepting your files.
A TIQ or Transaction in Question is a notification, either automatically
generated by the system or manually generated during the desk audit advising of
inaccuracies or missing information for a policy entered into SLIP. Manual TIQ’s are
generated by MSLA after your policy filings have been processed through a process known
as a desk audit. The system TIQ is generated when policy data fails to meet one of the
system parameters for filing policy data such as entering an Endorsement prior to
entering the new or renewal policy.
To respond to TIQ’s through SLIP, simply go to the Main Page and look at TIQ inform. Here you will see both System TIQ’s and Manual with a corresponding number which represents the number of TIQ under each TIQ type. Please note while you are able to view System TIQ’s you are unable to respond to these through SLIP. MSLA will attempt (where possible) to resolve these in house; however, when it is not possible MSLA will contact you via an email.
To respond to the Manual TIQ you will click on the corresponding number which will provide you with a TIQ Search Results. From here you will click on the Confirmation # which will then take you to the Transaction History Screen. Here you will see the transaction with a (?) under the status section of the transaction. Click on the (?) to display the reason for the Manual TIQ. To respond to the MSLA office with regard to the TIQ click inside comments box. Once you are finished click “Save”. MSLA will now be able to view your response. Close the window to exist.
The TIQ may be cleared by providing any missing information and/or providing corrected documents resolving discrepancies or correcting errors.
No, Mississippi does not require any annual reports. You are to file all Surplus Lines business written with the Mississippi Surplus Lines Association within 15 days following the end of the month in which a policy is procured.
The SLIP system will not allow zero reports. If no business was submitted during the month, no documentation is required to be turned in. Please note: It is not necessary to notify MSLA that you have zero business.