It summarizes key provisions of each state's requirements based on the Annual Financial Reporting Model Regulation (MDL-205), commonly known as the Model Audit Rule. To follow the Market Analysis Procedures (D) Working Group and their discussions related to new MCAS lines of business, visit their webpage:/cmte_d_mapwg.htm. (212) 709-1562, Actuarial Opinion Summary should be sent electronically via e-mail to:[emailprotected], CD (See Note N): For information on how to complete the request form, please see the Frequently Asked Questions. New York, NY 10004. See the SVO website for a similar list of what was included in this report. Property Bureau 4th Floor Also shows estimated underwriting profits and operating profits, as well as estimated federal taxes. Arranged and organized by chapter and area of examination, regulated entities might find this summary useful in creating an outline for internal review templates. Also includes information on smart shopping strategies and steps to take in protecting homes. Requirements in the Valuation Manual are applicable to life insurance, accident and health insurance, and deposit-type contracts. By filing over the Internet with the NAIC, an insurer will have fulfilled its electronic filing requirement for national forms with New York and therefore should not file a CD with the Department. You are required to file ONLY ONE HARD COPY of the 2021 ANNUAL FILING. Please refer to the Departments guidance for electronic signatures, transactions and filings. New York, NY 10004 Do NOT mail to Albany. We are providing for your use the LIFE Annual Statement Checklist & Instructions. The Bank List publication is no longer produced, and was last published in August 2017. Revised in 2019. WebLearn about our NAICS and SIC Lists and Data Append Services. Derived from the NAIC Accident and Health Policy Experience Exhibit, the report includes aggregated data from the exhibit in the P&C, health, life and fraternal blanks; extensive breakouts of market share data; company index; and important statistics - such as loss ratios, number of policies and certificates, and number of covered lives. This includes all detail investment schedules and other supplements for which the Annual Statement Instructions exempt printed detail. As of August 2019, the contact information is current as provided to the NAIC by the state insurance departments. WebThe report shall be filed with the lead state commissioner of the insurance holding company system as determined by the procedures within the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners (NAIC). Individual Model LawsModel Law Development, 2022 Model Laws (with Spring National Meeting Updates), 2022 Model Laws (with Summer National Meeting Updates), 2022 Model Laws (with Fall National Meeting Updates). (212) 480-4669 input, See a list of licensed insurance companies, See what enforcement actions IDOI has taken, File financial information for my insurance company, Enroll for the Municipality Set-Aside Program, File a Patient's Compensation Fund Certificate of Insurance, Residential Real Estate Acquisition of Licensee Information and Numbers "RREAL IN" Database, Accounting Practices & Procedures Manual Update: May 2021, Accounting Practices & Procedures Manual Update: August 2021, Financial Regulation Standards and Accreditation Program Manual, Uniform Application for Individual Producer License/Registration, Uniform Application for Business Entity Adjuster License/Registration, Uniform Application for Individual Adjuster or Apprentice License/Registration, Uniform Application for Third Party Administrator License, Uniform Application for Business Entity License Renewal/Continuation, Purposes and Procedures Manual of the NAIC Investment Analysis Office, Spring 2021: E Committee Technical Updates, Summer 2021: E Committee Technical Updates, Report Form 1 focuses on the critical assumptions of morbidity and persistency while still presenting high-level loss ratio data. Find contact information for insurance departments and local insurance agents, or file a complaint. The If the domestic or foreign nonlife insurance company files Form 1120-PC electronically, do not attach the annual statement or pro forma annual statement to the electronically filed return. WebState NAIC State I. NAIC FINANCIAL STATEMENTS 1 Annual Statement (8 X14) 2 EO xxx 3/1 NAIC See Notes A,C,E,G,H,L 1.1 Printed Investment Schedule detail (Pages E01-E29) 2 2 xxx 3/1 NAIC 2 Quarterly Financial Statement (8 x 14) 2 2 xxx 5/15, 8/15, 11/15 NAIC II. Implement the MSA rate review process once adopted by the NAIC Executive (EX) Committee and Plenary. The XXX in this column might signify that the state has waived the paper filing of the annual statement and all supplements. For groups, it must be filed by the ultimate holding company for an Article 15 group and by the parent domestic insurer in an Article 16 group. Published semiannually. Reports available since 1990. The Property/Casualty reports include the top 10 company groups by state and the top 125 groups countrywide for each P/C annual statement line of business. Electronic filing is intended to include filing via the Internet or filing via diskette with the NAIC. We provide tools and resources to help regulators set standards and best practices, provide regulatory support functions, and educate on U.S. state-based insurance regulation. One State Street Select a state or jurisdiction for insurance department contact information. Discover tools and resources to help you understand different types of insurance, claims processes, and practical tips to help support you through every stage of your life. Access to every published model law, regulation, and guideline. Updated annually. Puerto Rico will begin collecting MCAS filings beginning with the 2022 data to be reported on the filing due dates in 2023. Have a question or request? We're here to help. File electronically through the Departments Cybersecurity Portal. The ORSA Guidance Manual provides guidance to an insurer and/or an insurance group of which the insurer is a member regarding the reporting of its Own Risk and Solvency Assessment (ORSA) as required by the domestic state's version of the Risk Management and Own Risk and Solvency Assessment Model Act (#505). The 2016 Workers' Compensation Large Deductible Study provides regulators, workers' compensation insurers and employers with valuable information about the appropriate use of large deductibles. (816) 783-8400, For questions about the database & electronic filing: Instructions for the 2021 MLR Reporting Year . Proper use helps identify system changes that can improve the method in which data is first collected and allows users to ascertain if their annual statement software vendor has complied with NAIC requirements. It is intended to serve as a resource to insurers, third party administrators, professional employer organizations, guaranty associations and regulators showing how large deductible policies work and special issues that can arise with their use. WebPlease contact [email protected] with questions regarding these accounts. This publication should be used to ensure that all financial filings conform to NAIC requirements. E-mail: [emailprotected] To be used with its companion products, this publication provides the appropriate format for filing annual statement data with the states and the NAIC. Many models also include a legislative history (Proceedings Citations) that explains why the model was adopted and why certain provisions were included. The Quarterly Statement Electronic Filing includes the complete quarterly statement data. The Quarterly Statement .PDF Filing is the .pdf file for quarterly statement data. Insurance Company and Fraternal Benefit Society Filings Portal. These are the filing instructions for the report to the Secretary required by section 2718 of the Public Health Service Act (PHSA), which NYS Department of Financial Services If your company only has hybrid-LTC business in a state, you will not see a RTF indicator. Purposes and Procedures Manual of the NAIC Investment Analysis Office. Have a question or request? Revisions are identified in bold font and summarized in a memo included within the publication, 2022 RBC Forecasting and Instructions-Health online subscription service, 2022 RBC Forecasting and Instructions-Life online subscription service, 2022 RBC Forecasting and Instructions-Property/Casualty online subscription service, State Insurance Regulation: Key Facts and Market Trends, Provides guidance and contains suggested best practices for state insurance departments in administering a producer-licensing program. With a focus on finding the right policy at a good value, the publication details important facts to discuss with insurance providers and addresses the implications associated with dropping a policy once it has been purchased. PLEASE DO NOT FILE ITEMS NOT SPECIFICALLY REQUIRED. No revisions have been made as of this date. For questions regarding cocodes please call us at: 816-783-8600. Appropriate notarization required on the actual document. It makes information that impacts the price of auto insurance in each state readily available to insurance regulators monitoring the market and to the public. Accessibility Issues, Insurance Regulatory Information System Ratios Manual, NAIC Uniform Life, Accident and Health, Annuity and Credit Product Coding Matrix, Own Risk Solvency Assessment Guidance Manual. Fully indexed and cross-referenced to make research easy. ASIH-OSS-2022, ASIP-OSS-2022, ASIT-OSS-2022, ASIL-OSS-2022. Theguideaims to help consumers obtain a policy that provides them with a level of coverage that satisfies all their needs, but does so at the lowest possible cost. Further, extensions for the filing of audited financial statements are only provided upon written application by the insurer to the superintendent, and such extension is only granted if the superintendent finds that compliance would constitute a financial or organizational hardship, as provided in Section 307(b)(3) of the Insurance Law. Copyright 2022. Fall Release 2022- The publication is now available as a PDF via an online subscription service (OSS) through Account Manager. Supplement, Supplemental Investment Risk Interrogatories, Supplemental Schedule for Reinsurance Counterparty Copyright 2019. NOTE: Annual Statement Blanks are produced and sold separately from Quarterly Statement Blanks. SEE NOTE REGARDING COVID 19 PANDEMIC SPECIAL INSTRUCTIONS Page 1 of 6 (1) Check-list (2) Line # (3) (5) DUE DATE (6) APPLICABLE NOTES Domestic Foreign /Alien Subscription includes periodic e-mail alerts directly from the Capital Markets & Investment Analysis Office. The Supplemental Health Care Exhibit Report is based off the new Supplemental Health Care Exhibit, which was created as a tool to comply with new federal legislation. Also includes information about other types of licensing programs; e.g., adjusters, bail bond agents, etc. Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. The Quarterly Statement .PDF Filing is the .pdf file for quarterly statement data. Annual Statement Blanks Protected Cell, released yearly that provides appropriate format for filing annual statement data information from states and NAIC. Should the domiciliary state set forth accounting guidance that differs from the AP&P Manual, disclosures of such must be made. Market Regulation Handbook Examination Standards Summary, Market Share Reports for Groups and Companies. You still MUST file an MCAS regarding your hybrid-LTC business regardless of whether you have a RTF indicator on your filing matrix. IRIS Ratios Manual is also part of the Financial Analysis Solvency Tools (FAST). Financial Internet Filing Online User's Guide, For questions about statement filing: (MCAS Blanks Working Group Webpage), Authority ReferencesData Call LetterSignatures. ), CSV Assistant Instructions Guidance for using the CSV Assistance Files, CSV Assistant Files Templates to assist in the creation of CSV data files, Scorecard Ratio Formulas Listing of standard scorecard ratios calculated for each MCAS lines of business. This guide helps insurers comply with state regulatory requirements regarding annual audited financial reports and related correspondence. A Shopper's Guide to Long-Term Care Insurance. Reports on homeowners dwelling, fire and tenant insurance. For more information, please refer to Regulation 215 (11 NYCRR 90). Workers' Compensation Large Deductible Study. KANSAS CITY, Mo., Jan. 18, 2023 /PRNewswire/ -- The National Association of Insurance Commissioners (NAIC) has named its 2023 committee chairs and vice chairs. Property Bureau 4th Floor (816) 783-8600. Compendium of State Laws that pertain to one or more NAIC Model Laws are made available online through the NAIC's Account Manager with the purchase of the Model Laws product. Financial Statement Filing & Step Through Guide, System for Electronic Rates and Forms Filings, Market Regulation and Consumer Affairs (D), Financial Regulation Standards and Accreditation (F), Innovation, Cybersecurity, and Technology (H), Market Conduct Annual Statement Blanks (D), Risk-Based Capital Investment Risk and Evaluation (E), Purposes and Procedures Manual of the NAIC Investment Analysis Office, Capital Adequacy (E) Task Force (Risk-Based Capital), Statutory Accounting Principles (SAP) (E) Working Group, Updates to the Accounting Practices & Procedures (AP&P) Manual, Financial Internet Filing Online User's Guide, industry-financial-filing-individual-remittance-advice.pdf, industry-financial-filing-combined-remittance-advice.pdf, industry-financial-filing-group-remittance-advice.pdf, 2022Annual 2023Quarterly Financial Statement Filing Deadlines, Annual, Quarterly, and Risk-Based Capital Approved Software Vendors, Formulas for Life, Health & Annuity Guaranty Association Assessable Premium Exhibit Part 2, Purposes & Procedures Manual of the NAIC Investment Analysis Office, Guide to Compliance with State Audit Requirements, Retaliation: A Guide to State Retaliatory Taxes, Fees, Deposits and Other Requirements, Risk-Based Capital (RBC) Forecasting Products, Statutory Accounting Principles (SAP) Self-Study Program, States' Prescribed Differences from NAIC Statutory Accounting Principles (SAP), Assistance with Annual and Quarterly Statement Completion, If your company does not have an NAIC Company code (sometimes called "NAIC Number" or "cocode"), obtain one by completing the. Exclusive, industry-focused manuals, data, and more. Delivers basic information toguideconsumers through the assessment, selection and purchase of home insurance. The UCAA Instructions are designed to assist companies in filing a primary application, an expansion application or corporate amendment to the certificate of authority. Line # refers to a standard filing number used for easy reference. This guide presents current and potential users of long-term care insurance with valuable information. MCAS provides market regulators with market conduct information not otherwise available for their market analysis initiatives. Access technology tools and resources for U.S. insurance regulators. Capital Markets Bureau 7th Floor Designed to serve as a compilation of the market conduct examination standards found in Chapters 20 - 32 of the Market Regulation Handbook. Explore future meetings and access past event documents. Its use will help insurance regulators provide speed-to-market for insurers, while continuing to maintain a high level of protection for consumers. The insurer also must file a hard copy of the signed jurat page in Oregon as proof of filing. Thisguidebriefly discuses key questions regarding cancer insurance and advises on the variation in cost and coverage of policies sold. (b) (1) Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, written by the company's appointed actuary. This column contains one of three words: NAIC, State, or Company, If this column contains NAIC, the company must obtain the forms from the appropriate vendor. Updated bi-annually. We provide tools and resources to help regulators set standards and best practices, provide regulatory support functions, and educate on U.S. state-based insurance regulation. WebThe NAIC provides expertise, data, and analysis for insurance commissioners to effectively regulate the insurance industry and protect consumers. (816) 783-8600or[emailprotected], For questions about filing fees or accounts receivable: It provides an overview of the entire examination process and then offers specific instructions and suggestions for carrying out each individual phase of examination. The NCCI Examination Report is a comprehensive examination of the data collection and rate-making activities of the National Council on Compensation Insurance. (816) 783-8089or[emailprotected], For questions about NAIC Numbers or cocodes call: A detailed chart includes statutory citations, filing deadlines, workpaper requirements, audit committee requirements and much more. Derivatives (where applicable), Qualifications of CPA Section 89.5(e)(2) of DFS Insurance Regulation 118, Cybersecurity Certification of Compliance. This report contains the latest available data drawn from Medicare Supplement Insurance Expense Exhibits filed with the NAIC. ****A Form F filing is required to be filed annually by a New York domestic insurer that is not part of a group and meets a specified premium threshold. Learn more about the Robert Dineen award. The publication provides demographic and insurer/syndicate contact information. Visit our Library to access archived publications. Learn more about the Robert Dineen award. Modifications to the handbook will be uploaded to the OSS platform as they become available following each interim and national meeting of the Market Regulation and Consumer Affairs (D) Committee. Only accepted in accordance with the Property Bureau 6th Floor Discover our framework to drive change and promote accountability in our workplace. Internet Filing will be available starting February 6, 2023 for submission of the 2022 Annual Financial Statement Filings and conclude on January 31, 2024. Instructions provide guidance for completing the various pages of the statements when the line descriptions are not self-explanatory. Indicates the date on which the company must file the form. See Regulation 118, Section 89.4(c) for additional reporting requirements if the CPA is dismissed or resigns. Discover tools and resources to help you understand different types of insurance, claims processes, and practical tips to help support you through every stage of your life. 1991-2023 National Association of Insurance Commissioners. Updated annually. Provides advice for consumers faced with the decision of whether to purchase Medicare supplement insurance. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. Currently, the 2022 Financial Condition Examiners Handbook is available as a PDF via an online subscription service (OSS). This publication provides information regarding each state's prescribed differences from NAIC statutory accounting principles, including a citation to the respective state statute and/or regulation. A password-protected Web site allows access to updates to the Manual prior to the next publication. Accessibility This handbook provides a guide to assist state insurance departments in establishing an effective examination system. WebAnnual Statement Instructions. Appendix C of the Risk Retention and Purchasing Group Handbook has been updated. If there is nothing to report, you may complete the NAIC Annual Statement page entitled "Supplemental Exhibits and Schedules Interrogatories" INSTEAD OF filing reports marked "None". This includes all detail The Manual includes all statutory accounting guidance that has been adopted by the NAIC as of March. If the due date falls on a weekend or a legal holiday, then the filing must be received by the Department by the end of the next business day. This publication offers practical considerations about implementing a loss-cost system in workers' compensation. InsData. 2020 National Association of Insurance Commissioners 1 Life . Membership lists, services and education to serve you and your mission. This handbook is updated annually. 2021 NAIC QUARTERLY STATEMENT INSTRUCTIONS TITLE. *****An ORSA Summary Report is required to be filed annually by a New York domestic insurer that meets a specified premium threshold and/or where the New York domestic insurer is a member of a group that meets a specified premium threshold. Copyright 2023 State of Indiana - All rights reserved. It provides useful insight into the types of policies available and helps you estimate how much insurance will provide adequate coverage, depending on your individual need. Buyers Guide to Fixed Deferred Annuities, Understanding Life Settlements: Selling Your Life Insurance Policy. Updated annually. Companies should copy the checklist and place an x in this column when submitting information to the state. For each line and each state, this publication presents aggregate statistics on premiums, losses, expenses, investment income and estimated profits for the preceding calendar year. ***The Corporate Governance Annual Disclosure is required to be filed annually by authorized insurers. AUDIT/INTERNAL CONTROL RELATED REPORTS, Audited Financial Reports Exemption Affidavit, Communication of Internal Control Related Matters Noted in This waiver could include supplemental annual statement filings. Developments and trends in financial markets and insurer investments. (Located at the top of the page under the MCAS header). View actions considered by committees, task forces, and subgroups, as well as charges, schedules, and staff links. This publication is the primary source for insurers to comply with the NAIC's reporting requirements. A listing of the top 10 companies by state by direct premiums earned is also included in this report. While focusing on deferred annuity contracts, the publication covers the annuity purchasing process from start to finish and includes questions customers should ask their agent or company along the way. Updated annually. This subscription service provides access to the published version of the handbook, and updates to the publication will be available in Account Manager. XXX appears in the Number of Copies Foreign column for the appropriate schedules and exhibits. Included in the report are averages based on written premiums and exposures for the combined voluntary and residual market business. The ORSA Summary Report is a state filing only and should not be submitted by the company to the NAIC. WebDEPARTMENT OF INSURANCE Annual Statement Filing Checklists & Instructions All Annual Statement filings submitted to the Kentucky Department of Insurance shall be completed in accordance with the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual, as amended, pursuant to KRS 304.3-240. For more information, please refer to Regulation 203 (11 NYCRR 82) on the NYCRR. Published following each national meeting. Includes non-U.S. insurers and Lloyd's syndicates that have met and continue to comply with the requirements set forth within the International Insurers Department Plan of Operation. Contact us today [email protected] a quote! The filings identified in items # 4, 15, 81, 83, 84, 86, 88, 89, 90, 91, 92, 93 and 111. If N/A appears in this column, the filing is required with the domiciliary state. The Blanks (E) Task Force modified the 1999 Annual Statement Instructions to waive paper filings of certain NAIC supplements and certain investment schedule detail, if such investment schedule data is available to the states via the NAIC database. View actions considered by committees, task forces, and subgroups, as well as charges, schedules, and staff links. Posted semiannually. Hard copy filings of the signed notarized New York Supplement jurat page should be directed to: All parts of the Annual Statement except those schedules identified as N/A on the checklist and all parts of the New York Supplement must be accounted for. Includes quantitative and qualitative procedures. DEC 2020. It also includes summaries of interim meetings, task force updates, progress reports, issue debates and new business discussions. EO (electronic only filing). FAQ (Frequently Asked Questions) - Contains both technical and definitional information not located in the other Help documents (Located just under the MCAS "Log In" icon) You will find answers to questions regarding: Market Conduct Contact, MCAS Administrator, and MCAS Contact, Participating Jurisdictions Contacts and Scorecards Provides state MCAS contact information and links to scorecard reports produced each year to show jurisdiction-wide ratio calculations and the distribution of ratios for all companies filing an MCAS in a given jurisdiction. The Synopsis is a brief, handy overview of the activity at each NAIC national meeting. For existing subscribers, please utilize Pricing Per User, 2022 Accounting Practices and Procedures Manual Online Subscription, ASBH-OSS-2022, ASBL-OSS-2022, ASBP-OSS-2022, ASBT-OSS-2022, ASBS-OSS-2022. Some states have chosen to waive printed quarterly and annual statements from their foreign insurers and to rely upon the NAIC database for these filings. This handbook's objective is to provide a framework that, while not preempting a state's authority, promotes consistent decisions while reviewing the standardized Uniform Certificate of Authority Application (UCAA) and helps improve the efficiency of the review process. The company may file through the Departments Filings Portal described in Note T or email a copy to Health Bureau mailbox at [email protected] if the company has no access to the portal. Please Note: This states instructions for companies to file with the NAIC are included in this Checklist. If you are unable to find the answer to your insurance question here, check our FAQs.If you have a question or need assistance, call (800) 342-3736 (M-F, 8:30 AM to 4:30 PM). Accident and Health Policy Experience Report 2021, Accounting Practices and Procedures Manual. 2023 Annual Statement Instructions Revisions. LIFE, ACCIDENT AND HEALTH/FRATERNAL INSURERS 1.1 Printed Investment Schedule detail (Pages E01-E29) 1+CD EO xxx 3/1 NAIC 2 Quarterly Financial Statement (8 x 14) 1+CD EO xxx 5/15, 8/15, 11/15 NAIC L, V NOTES AND INSTRUCTIONS (A-K The white paper describes common exclusions found in homeowners and dwelling policies and outlines the coverage options for home-sharing hosts and guests. 1991-2023 National Association of Insurance Commissioners. The Statistical Compilation provides aggregate annual statement data for property/casualty, life/health insurance companies, all HMOs and companies that write accident and health insurance and file annual statements with the NAIC. Publication explains situations in which having homeowners' insurance may be mandatory, details the basic coverage options available to consumers and answers the most common questions associated with this offering. Browse our timeline to learn how we support insurance regulators in their mission to protect consumers and ensure fair and healthy insurance markets. Independent CPA, Relief from the Requirements for Audit Committees, Request to File Consolidated Audited Annual Statements, Request for Exemption to File Managements Report of Internal WebLIFE, ACCIDENT AND HEALTH/FRATERNAL INSURERS COMPANY NAME: NAIC Company Code: Contact: Telephone: REQUIRED FILINGS IN THE STATE OF:IllinoisFilings Made During the Year 2021 Page 3 of 6 (1) Check- list (2) Line # (3) REQUIRED FILINGS FOR THE ABOVE STATE (4) NUMBER OF COPIES* (5) DUE DATE (6) APPLICABLE Companies report their data to each jurisdiction through the NAIC's on-line MCAS application. Foreign property and casualty insurance companies are required to file the New York Supplement electronically with the NAIC and file an electronic copy of the signed notarized New York Supplement jurat page through the Departments Insurance Company and Fraternal Benefit Society Filings Portal. 12/31/2021 . The Bank List meets credit standards specified for a variety of NAIC-approved purposes. Health and Welfare Plans Under the Employee Retirement Income Security Act: Guidelines for State and Federal Regulation, This handbook provides state insurance regulators with a resource guide to help them through the labyrinth of ERISA preemption analysis.
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