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Insurance Industry News from ProgramBusiness.com
Online California Broker ComplianceDataFlow Information Systems (DFIS), an emerging leader in the field of interactive, online software applications for the insurance industry, has announced the release of SLAexpress, the first automated system to help track placements and prepare California surplus lines filings and tax payments.
The California Department of Insurance recently issued a notice regarding AB 1639 stating that as of January 1, 2008, all individuals currently transacting on behalf of surplus line broker organizations will be required to be individually licensed as a surplus line broker and file monthly zero dollar coupons and annual tax returns. SLAexpress is a valuable adjunct for brokerages seeking compliance with this pending change.
SLAexpress tracks placements and reports policies not yet filed. The system also tracks taxable fees to assist in making timely payments that help eliminate late filing fees and reduce the risk of duplication or fee liability. The SLAexpress system allows users to generate a number of required forms, such as SL-1, SL-2, and monthly plus annual batch reports. Signature-ready surplus lines monthly tax vouchers and annual tax returns are produced with a push of a button- a significant improvement over current agency management systems. In addition, monthly premiums are reconciled, including return premiums and complex Lloyd’s syndicate reporting. SLAexpress also has the capability to interface with agency management systems, and users have the ability to input summary data for previous months to be ready for their annual 2007 tax returns.
DFIS president, Jerry McLaughlin, stated “The SLAexpress online system eliminates the days, even weeks, that brokers spend preparing surplus lines filings, monthly tax payments and annual tax returns. In addition, to maintain compliance with pending California state law, the system can generate zero dollar monthly vouchers and annual tax returns for those agencies having individual transactors with their own surplus lines licenses.”
SLAexpress is now available through a number of volume-related subscription plans. DFIS is offering a no risk 30 day free trial for a limited period of time. For more information visit DFIS at For more information, visit their storefront at www.dfis.com.
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