An excess lines broker is an individual or business entity who can sell excess and surplus lines insurance, which allows consumers to buy property and casualty insurance through the state regulated market, where policyholders, agents, brokers, and insurance companies can design specific coverage and negotiate pricing based on the specific risks to be secured, for example a boxer insuring their hands.
Requirements and Qualifications
- Pre-licensing and taking an exam are not required.
- Residents and Non-Residents MUST be licensed as a Property/Casualty Broker.
- An entities sublicensees must be the same as listed on the Property/Casualty Broke license.
- If the Non-Resident's home state is California, a $50,000 bond is required.
Licensing Period
- If you are born in an even year, your license will expire on your date of birth every even year.
- If you were born in an Odd Year, your license will expire on your date of birth every odd year.
Fees
- Refer to the Department's Application Fee Schedule to determine the specific fee for any application being filed with the Department.
Licensing fees can be paid by credit card, electronic funds transfer (e-check), or paper check. If paying by paper check, the application will remain pending until the Department receives and processes the check. Checks can be mailed to The Department of Financial Services, Attn: Licensing Bureau, One Commerce Plaza, Floor 20, Albany NY 12257.
There is a $20 fee for any e-check or paper check returned by the bank for insufficient funds.
Apply Online
The Excess Lines application is available in NY LINX. You must already hold an active property and casualty broker license to apply. To get started, visit NY LINX:
Check Status/Print License
The Department does not mail paper licenses. Use the Producer/Licensee Search application to determine if a license has been issued and to view the license number. Print the license as soon as it is issued.
Excess Lines Premium Tax Statement Filing
As of January 1, 2025, excess line brokers may file "ZERO" premium tax statements online if they meet ALL of the following criteria:
- No surplus lines business was written in New York for year 2024;
- No transactions were reported to the Excess Line Association of New York (ELANY) for any endorsements/cancellations; and
- No premium taxes or credits are due for prior years.
Important: The above filing option is for ZERO filers only. NON-ZERO Filers may only start filing premium tax statements at the end of February 2025, after the ELANY members' report of 2024 is uploaded to the DFS Portal.
Filings are due annually on March 15th. If March 15th falls on a Saturday, Sunday, or legal holiday, the due date is the next business day.
DFS Portal
Excess Lines Premium Tax Statements are filed via the DFS Portal. If you do not have a DFS Portal account, you will need to create one. Your NY LINX username and password will not work to access the DFS Portal, and your DFS Portal account will not work to access NY LINX.
To log in or create a DFS Portal account visit the DFS Portal:
Access the Premium Tax Submission Application
Once you have a Portal account, sign in and use the Request Apps tab to request access to the Excess Line – Premium Tax Submission application.
You will receive a message stating that the request has been received and an email notification when the request is approved. Once access has been granted, you will see a link to the Excess Line Premium Tax Submission application in the My Apps tab.
File a Statement
To file a premium tax statement, log into the DFS Portal, select the My Apps tab, select Excess Line – Premium Tax Submission. Select View/Edit Draft Statement next to the corresponding tax year and start your online tax filing.
Supplemental or Amended Statements
Excess line brokers may file supplemental statements or amend a filing via the DFS Portal. A supplemental statement can only be filed after the original premium tax statement has been submitted and there is a need for an amendment, for example to correct an error on the original statement, to report additional transactions, or to claim a credit or a refund.
The link for the supplemental filing will not appear unless the original premium tax statement was submitted.
Questions?
Questions regarding excess line premium tax submissions can be sent to [email protected].