Compliance Engine
Surplus lines filings, tax calculations, diligent search documentation, and regulatory deadline tracking — automated across every jurisdiction so you never miss a filing again.
Insurance compliance is not optional, and the penalties for getting it wrong are severe. A missed surplus lines filing in New York can result in fines up to $500 per policy. In Florida, late FSLSO submissions trigger automatic penalties and can jeopardize your surplus lines license. Across the country, state insurance departments are increasing enforcement activity, auditing brokers more frequently, and demanding more detailed documentation of diligent search procedures.
For agencies that place surplus lines business — and especially those operating across multiple states — compliance is a full-time job. Each state has its own surplus lines tax rate, filing deadline, stamping office requirements, and diligent search standards. New York requires filings through ELANY within 120 days of binding. Florida mandates FSLSO reporting within 45 days. Some states require three declinations from admitted carriers before surplus lines placement is permitted; others require none. Keeping track of these variations manually is a recipe for violations.
PrizMova's insurance compliance software embeds regulatory intelligence directly into your policy workflow. When you bind a surplus lines policy, PrizMova automatically identifies the applicable state requirements, calculates taxes and fees, generates diligent search documentation, and queues the filing — all before you close the policy record.
PrizMova handles Excess Line Association of New York filings end to end. When a surplus lines policy is bound for a New York risk, the system automatically populates the ELANY affidavit with the insured's information, policy details, premium breakdown, and surplus lines tax calculation. The diligent search documentation — including the three required declinations from admitted carriers — is attached automatically from records captured during the quoting workflow. Filing status is tracked from submission through acceptance, and any ELANY rejections generate an immediate task for your compliance team with the specific deficiency identified.
Florida's Surplus Lines Service Office requires detailed reporting within 45 days of binding. PrizMova generates FSLSO-compliant filings automatically, including the FL-specific tax rate (currently 5% surplus lines premium tax plus the 0.3% Fire Marshal assessment), the insurer eligibility verification against the FSLSO eligible insurer list, and the required policy-level data fields. Batch filing support lets your compliance team submit dozens of policies in a single session instead of keying them one at a time.
For multi-state risks, the Nonadmitted and Reinsurance Reform Act determines which state collects the surplus lines tax. PrizMova applies NRRA allocation rules automatically, identifying the home state of the insured, calculating each state's proportional tax share for multi-state policies, and generating the required reporting. No more manually splitting premiums across state lines or debating which jurisdiction's tax rate applies to a policy covering operations in twelve states.
Every filing obligation in PrizMova carries a deadline, and deadlines are enforced with a multi-tier alert system. At 30 days before a filing is due, the assigned compliance team member receives a notification. At 14 days, the notification escalates to the compliance manager. At 7 days, the agency principal is alerted. Overdue filings are flagged in red on the compliance dashboard with the potential penalty amount displayed. Deadline calculations account for state-specific rules, weekends, and state holidays automatically.
Most states require evidence that the broker attempted to place coverage with admitted carriers before resorting to the surplus lines market. PrizMova's diligent search workflow captures declinations as they happen during the quoting process. Each declination is timestamped, linked to the specific carrier, and includes the reason for declination — whether it was an outright decline, an exclusion, or a premium that was materially higher than the surplus lines quote. This documentation is stored with the policy record permanently and can be produced instantly for any audit.
New York's Department of Financial Services cybersecurity regulation (23 NYCRR 500) applies to all licensed insurance entities operating in the state. PrizMova helps agencies maintain compliance with technical controls including multi-factor authentication, access logging, encryption of nonpublic information at rest and in transit, and annual penetration testing documentation. The compliance dashboard tracks your agency's adherence to each NYDFS requirement and flags any gaps before your annual certification is due.
When a state examiner arrives for an audit, the last thing you want is to scramble through filing cabinets and email archives. PrizMova maintains an immutable audit trail for every compliance-relevant action: who created the filing, when it was submitted, what data was included, whether it was accepted or rejected, and what corrective actions were taken. Audit trails cannot be edited or deleted — they are append-only by design. Export a complete compliance history for any date range in seconds, not days.
Surplus lines tax rates change. Stamping fees change. State-specific assessments are added and removed. PrizMova maintains a continuously updated tax table for all 50 states, the District of Columbia, and US territories. When you bind a surplus lines policy, the tax calculation uses the rate in effect on the binding date — not a stale rate from last year's compliance manual. Tax breakdowns appear on every invoice and policy document, so your clients see exactly what they are paying and why. For agencies that self-report and remit surplus lines taxes, PrizMova generates quarterly and annual tax reports organized by state, ready to attach to your remittance.
Related Features
Compliance obligations are triggered automatically when surplus lines policies are bound. No separate data entry, no forgotten filings.
Commercial surplus lines placements flow directly into compliance workflows with carrier eligibility checks and multi-state tax allocation.
ARIA monitors upcoming compliance deadlines and flags potential issues before they become violations. Proactive compliance, not reactive firefighting.