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What is the surplus lines tax in CA?

Surplus lines tax/Stamping Fee: 3.0% payable by broker to the CDI; stamping fee of 0.25% (effective Jan. 1, 2020), payable by broker to The Surplus Line Association of California (SLA).

What is a sl2 form?

The person signing the Diligent Search Report (SL-2 form) must hold a California Property & Casualty (P&C) license. \u25ba The person signing the SL-2 form must have performed the diligent search or supervised an unlicensed person who conducted the search.

What are surplus lines?

Surplus lines insurance protects against a financial risk that is too high for a regular insurance company to take on. Surplus line insurance can be used by companies or purchased individually. Unlike normal insurance, this insurance can be bought from an insurer not licensed in the insured's state.

What is SL tax form?

A completed Confidential Report of Placement (SL-1 form) is required for all new business, renewal or extension endorsement extending the policy period past 90 days in the aggregate in a 12-month period.

What is a d1 form for insurance?

Prior to binding insurance coverage with a non-admitted carrier, you are required to sign the Disclosure Form (D-1 Form), formally making you aware of the insurance policy being issued by the non-admitted insurance company.

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