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Montana Insurance Department Takes Back
Surplus Lines Stamping Office Operations
Many of you are aware
of the fact that the Montana Surplus Lines Agent’s Association has been
responsible for the operation of the Surplus Lines Stamping Office. In fact, MSLAA has served as the
designated Surplus Lines Advisory Authority for the last 19 years.
The Department of Insurance has made the
decision to take over the operations of the Stamping Office on July 1,
2009. See
letter sent to all surplus lines producers by the DOI.
The Department
notified MSLAA as to their intention to bring the Stamping Office
Operations in house in April 2009 and since that time the MSLAA Board,
Public Risk Insurance Management (PRIM) representatives and legal counsel
have been in negotiations with the Department regarding this
transition. Attempts were made to
reach an agreement that would allow for a transition that would run through
the end of the year; however, in spite of our mutual efforts we could not
reach an acceptable agreement.
As you may be aware,
MSLAA contracted with PRIM to provide the Stamping Office services. As a result of this action by the
Department of Insurance, the contract for services between MSLAA and PRIM will
be terminated. It is important to
note that MSLAA will continue as a non-profit organization with the mission
to serve surplus lines producers.
MSLAA remains a resource to surplus lines producers in regards to
the surplus lines segment of the insurance industry; however, we simply
will not be handling the Stamping Office operations for the State of
Montana. As of July 1, 2009 all questions and inquiries regarding surplus
lines submissions should be directed to the Insurance Department
406-444-2040.
If you have any
questions, please feel free to contact Bob
Biskupiak or Jacalyn
Grenfell at the association office. We wish the Insurance Department the best
of luck in this endeavor.
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