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ISSUED 3/3/2009 FOR IMMEDIATE RELEASE

EXCESS LINE BROKERS CAN FILE ONLINE WITH DEPARTMENT’S EXCESS LINE PREMIUM TAX PROGRAM

Excess line brokers have an online tool to help simplify their lives this tax filing season: an interactive online excess line premium tax program provided by the New York State Insurance Department. This simpler, faster, and more accurate method of filing returns is available free to producers at the Department’s website, www.ins.state.ny.us.

The online system for excess premium line tax filing should help producers save time and increase accuracy. Excess line brokers using the system will actually need to enter less information than they would were they filling in the forms manually. The system will then automatically calculate the tax due. In addition, the online premium tax statement will be available to brokers for future reference on the Department’s portal.

Excess line brokers who do not already have access to the Department’s web portal will need to obtain a Brokersite user ID from the department. Visit the Department’s website at www.ins.state.ny.us for more information.

The deadline for filing the excess premium line tax statement is March 16, 2009.

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Department of Financial Services

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