Alaska Filing Guide

Filing Methods

• Electronic filing through OPTins (Required per R17-08)

Filing Steps

1. 1ALL filings must be submitted through OPTins electronic system
2. 2Policy must include: "This is evidence of insurance procured and developed under the Alaska Surplus Lines Law, AS 21.34. It is not covered by the Alaska Insurance Guaranty Association Act, AS 21.80."
3. 3Prohibition on automatic renewal without remarketing
4. 4Broker name must be visible and unobscured on all documents
5. 5Cover notes must reach insured within 30 days of binding
6. 6Wet marine and transportation insurance taxed at 0.75% (no filing fee) - must file separate Form 08-1240
7. 7Independent procurement: 3.7% when Alaska is home state
8. 8CRITICAL: Payment MUST be made by ACH - 25% penalty if not (min $100, max $2,000)
9. 9Payment must be RECEIVED in state bank account by due date (not just sent)
10. 10Each transaction requires separate report - do not combine multiple policies or transactions
11. 11Endorsements filed based on INVOICE date (not effective date) - all endorsements invoiced 1/1/2013+ must be filed
12. 12Subscription policies: Each insurer reported separately - filing fee on ALL premium, tax only on non-admitted premium
13. 13Lloyd's syndicates: Use co-code AA-1122000 for multiple syndicates or report each separately
14. 14Broker fees per Bulletin B 04-14 must be included in premium calculation
15. 15Exempt premiums: State/political subdivisions, aircraft in interstate/foreign commerce (use Statement of Exempt Premiums form)

Required Forms

• Quarterly surplus lines report (via OPTins)
• Report of Surplus Lines Transaction (separate form for EACH transaction)
• Form 08-1240 (Unauthorized Insurer's Premium Tax Report for wet marine/transportation)
• Statement of Exempt Premiums (when applicable)
• Form 08-253 (Power of Attorney)
• Form 08-254 (Designation of Service of Process)

Common Issues to Avoid

• Missing diligent search documentation
• Incorrect tax rate applied (forgetting 1% filing fee)
• Missing required Alaska notice on policy
• Late filing past quarterly deadline
• Not using OPTins system for filing
• Not paying by ACH (triggers 25% penalty)
• Combining multiple transactions on one report
• Filing endorsements in wrong quarter (use invoice date, not effective date)
• Incorrect subscription policy reporting (forgetting to include admitted premium in filing fee calculation)
• Not filing separate Form 08-1240 for marine/transportation coverage

Helpful Tips

• Total tax is 3.7% for standard lines (2.7% tax + 1% filing fee)
• Marine and transportation coverages only pay 0.75% with no filing fee BUT require separate Form 08-1240
• Keep diligent search documentation for 5 years
• OPTins system allows batch uploads for multiple policies
• Set up automatic reminders for quarterly due dates
• MUST set up ACH payment in advance - payment must be RECEIVED by due date
• For subscription policies with admitted carriers, filing fee applies to ALL premium, tax only to non-admitted
• Endorsement quarter determined by invoice date, not policy effective date
• Each transaction needs its own separate report form
• State government and political subdivision insurance is exempt from tax/fees

Frequently Asked Questions