An Act amending the act of May 17, 1921 (P.L.682, No.284), known as The Insurance Company Law of 1921, in surplus lines, providing for surplus lines fees and further providing for monthly reports.

This bill amends Pennsylvania's Insurance Company Law to update how fees are handled for surplus lines insurance, which covers risks that standard insurers cannot or will not accept. It allows licensed brokers to charge a service fee of up to $150 or 4% of the premium, whichever is higher, and permits them to pass on the actual cost of required property inspections to the buyer. To ensure transparency, the law mandates that brokers clearly disclose all fees, taxes, and any potential conflicts of interest before placing a policy. Additionally, the bill requires these brokers to submit monthly reports to the state insurance department detailing all policies issued and the service fees collected.