New Utah Surplus Line Tax Filing System Implemented
Salt Lake City, Utah—The Surplus Line Association of Utah (SLAUT) has partnered with the Utah-based company, InsCipher—the leader in surplus line tax filing automation technology—to revolutionize how insurance producers file surplus line tax filings in Utah, launching a Utah surplus lines tax filing system.
“SLAUT was looking for a way to make filing surplus line business in Utah easier than any other state,” said SLAUT Executive Manager, Sylvia Bruno. “After considering several different options, it was clear that InsCipher’s filing system would provide the greatest benefit to both the producers and the department of insurance.”
InsCipher’s automated system provides a wealth of benefits to the, SLAUT, Department of Insurance, and to producers, including:
- Real-time data, including premium, volume, and carrier information
- Increased state efficiency in reviewing & managing tax filing
- Electronic invoicing & payment processing
- Automated compliance, review, & checking
- Instant tax reconciliation
- Status notifications
“With more than 15 years in the insurance industry, we understand the unique challenges faced by producers who file surplus line taxes. We are excited to partner with the Surplus Line Association of Utah to offer producers and brokerages an innovative approach to surplus line tax filing.”Daniel Steadman, Vice President of InsCipher
Once agencies register online, they will have:
- Step-by-step submission guidance
- An automated surplus line tax calculator
- Comprehensive compliance & error notifications
- Instant document batch uploads & downloads
- Online electronic payment portal
About The Surplus Line Association of Utah
Under Utah law, every insurance agent who writes surplus line policies in Utah must have each transaction examined to ensure compliance.The purpose of the Surplus Line Association of Utah is to assist the State of Utah’s Insurance Commissioner in the collection of premium tax, and to supervise surplus line producers with respect to the writing of non-admitted surplus lines insurance business in Utah. Visit www.slaut.org.
InsCipher is the industry leader for insurance surplus line tax filings. With more than 15 years of experience in the insurance industry, InsCipher’s team understands how to navigate state laws and regulations to provide producers with a convenient and easy way to calculate and file their surplus line taxes.