|WHEN DO I FILE AN ENDORSEMENT?
An amended report of coverage must be filed with the association for each cancellation and each endorsement which changes the named insured, the description or location of the subject of insurance, or the coverage, conditions, terms, premium or participating insurers. An endorsement must be filed within 30 days of receipt (of the policy change).
For policies effective on and after Jan 01, 2016, the fee for each endorsement filed is one-half of 1 percent (.0050) of the policy/endorsement premium.
If effective date of originating policy is Jan 01, 2007 to Dec 31, 2015, the endorsement fee is 1/4% (.0025)
or 1/2% (.005) of endorsement premium if effective date of originating policy is prior to Jan 01, 2007.
Stamping Fees are fully earned and NOT credited on returns. If it is a flat cancellation endorsement, the Stamping Fee is returned in full.
Fees are invoiced monthly.