Welcome to Compliance Dos & Don’ts, where experts share their licensing and compliance knowledge. Today, ILSA’s Surplus Lines Tax Filings Supervisor Sherry Groves shares her dos and don’ts for managing accounts for surplus lines policy reporting and tax payment portals like OPTins. Her secret for success: Apply for your account (or add the state to an existing account) as soon as the insurance department approves your surplus lines license. Compliance obligations, such as zero reports, can begin as soon as your license issues.
This episode is brought to you by:
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.
And if you only learn one thing from this podcast, let it be this: States are cracking down on account security. Don’t share account logins among employees or leave accounts for former employees active!