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SOP for Filing and Reporting SL Policies in Oklahoma

Reporting of premiums and taxes in OK, ensuring compliance with state regulations. Effective Date: 1/1/2024

Updated over 7 months ago

Here is a link to a visual aid of the new process

Transition Overview:

  1. As of January 1, 2024, all new, renewal, and endorsement

    transactions for surplus lines policies with policy effective dates from

    January 1, 2024, onwards must be submitted through the

    Clearinghouse SLIP site.

  2. Transactions with policy effective dates before January 1, 2024, will

    continue to be filed in OPTins.

Filing Policies in InsCipher:

  1. The InsCipher portal is hard-coded to recognize policy-effective dates

    and allocate transactions to the correct department for reporting

    individual filings outside of the quarterly and annual reporting

    requirements.

  2. Transactions with policy effective dates before January 1, 2024, will

    display OPTins credentials for filing.

  3. Transactions with policy effective dates from January 1, 2024,

    onwards will display Clearinghouse credentials.

  4. Minimal manipulation of these processes is needed

OPTins State Reporting Tasks (SRTs)

Previous Requirements:

  1. Business could be filed under an agency or producer license.

  2. Annual Zero reports were required for all licenses that did not write

    business.

  3. Premium was filed under the licenses that wrote the business.

Updated Requirements:

  1. For Policy Effective Dates Before January 1, 2024

    1. Quarterly reporting is still required for these policies in OPTins.

    2. Annual Zeros are needed for an agency license.

    3. Annual Premium Bearing Reports are necessary for OPTins and

      Clearinghouse.

  2. For Policy Effective Dates on or after January 1, 2024

    1. Quarterly reporting is required for these policies in Clearinghouse SLIP.

    2. Annual Zeros are required producer licenses.

    3. Annual Premium Bearing Reports are required for Optins and

      Clearinghouse.

Manual Manipulation of SRTs

  1. OPTins Quarterly SRTs:

    1. Agency license with premium—keep the SRT. There should not be

      any premium-bearing transactions after 1/1/2024. Agency

      licenses can only be reported in OPTins.

    2. Producer Licenses with premium - Sort the transactions and bulk

      remove filings with a policy effective dates after 1/1/2024.

  2. Clearinghouse Quarterly Reports

    1. Agency licenses archive or void SRT, as these cannot be filed in SLAS.

    2. Producer licenses with premium- Sort and bulk remove any

      transactions with policy effective dates before 1/1/2024

Annual Reporting

  1. OPTins Annual Premium Summary and SL Tax Payment (All Licenses)

    1. Agency licenses with premium or a zero – keep the SRT. There

      should not be any premium transactions after 1/1/2024. Agency

      licenses can only be reported in OPTins.

    2. Producer licenses with premium – Sort and bulk remove

      transactions with policy effective dates after 1/1/2024.

    3. Producer licenses with zero premium – archive or void, as these will

      be reported in the Clearinghouse Slip.

  2. Clearinghouse Annual based on Date Filed (All Licenses)

    1. Agency licenses zero – Archive or void as these are reported in

      OPTins.

    2. Producer licenses with premium – Sort and bulk remove

      transactions with policy effective dates before 1/1/2024.

    3. Producer licenses with zero premium – keep SRT; all licenses with

      zero premium must be reported in the Clearinghouse Slip.

FAQs

  1. Why did the SLAS SL Tax Q1 SRT not generate as expected?

    1. The SLAS SL Tax Q1 SRT was not generated as expected due to different reporting requirements for OPTins, which are used for policies effective before January 1, 2024. You'll need to manually assign/unassign filings until automatic assignment logic is implemented. (updated 4/9/2025)

  2. Do I need to update the filings each time manually?

    1. Manual updates are required until the system can automatically assign filings correctly. (updated 4/9/2025)

  3. Why is the OPTins Q1 SL Tax needed?

    1. Due to different reporting requirements, OPTins Q1 SL Tax must report premiums on policies effective before January 1, 2024. (updated 4/9/2025)

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