What are the SL-1 and SL-2 forms filing and record keeping requirements under Regulation 2190?
A. Effective 9/28/98 and after, filings received at the SLA should only include copies of the SL-1 Confidential Report of Placement and SL-2 Diligent Search Report forms. The surplus line broker who signs the SL-1 must retain the original for at least five years. The agent, broker or surplus line broker who signs the SL-2 form must maintain the original (also for five years) and send copies to all other agents, brokers or surplus line brokers involved in the transaction. Refer to SLA Bulletin #831 for additional information. [Note: From discussions with the DOI, we understand that the requirement to “send copies” of the SL-2 to all other agents, brokers or surplus line brokers will be considered satisfied if the surplus line broker obtains and maintains a copy of the signed SL-2.] “The SL-2 form is not required if the type of coverage or risk meets the Export List requirements”.
