Stamping Fee Change Effective July 1, 2011
The Board of Directors voted to reduce the stamping fee from 0.25% (.0025) to 0.10% (.0010) effective July 1, 2011.
All endorsements on policies which were effective prior to July 1, 2011 will retain the original 0.25% fee, regardless of when the endorsement is issued.
The new 0.10% stamping fee will apply to all policies having an effective date of July 1, 2011, as will endorsements on those policies. The effective date of the original policy determines the stamping fee on the endorsement.
True courtesy filings (where no Washington licensed surplus line broker is actually involved in the procurement of coverage and a filing is being made after the fact) will no longer be allowed as of July 1, 2014. Courtesy filings will still be allowed (meaning the filing of policies for another licensed person) as long as coverage was procured by a Washington licensed surplus line broker. It will be the responsibility of the filing broker to have documentation showing a Washington licensed surplus line broker was involved in the procurement of coverage.