Insurance Companies Company Admissions, Add / Delete Lines, and Corporate Record Changes Annual, Quarterly Statements and Other Financial Filing Requirements Annual Statement and Related Filings (NAIC Check-List) Enclosed are the instructions for the annual statement and related financial reporting filings due in 2021. Mr. Floyd’s killing “shined the … Back to Top. NAIC Actuarial Guideline 49 (AG 49) is related to the Model and applies to certain life insurance policies that are subject to the Model and that provide interest credits linked to … for the purpose of procuring health insurance and operates as an exception to existing false group or fictitious group law s. HG-30 - Health Insurance Purchasing Alliances I-85 . Texas Department of Insurance 333 Guadalupe, Austin TX 78701 | P.O. References are made within each Model Law to particular states that have adopted the model law with corresponding citations to the … Please see NAIC codes in SERFF filing guidelines. Market Regulation The current model, Advertisements of Life Insurance and Annuities: The Advertisements of Life Insurance and Annuities Model Regulation (NAIC 570-1) provides rules for life insurance and annuity advertising. The provisions were enhanced in 1998. NAIC has been developing Model State Laws for over 100 years to encourage uniformity in the regulation of insurance products. If a question does not apply, The McCarran-Ferguson Act, passed in 1945, gave states the power to regulate the insurance industry, exempting the industry from … It is the only independent, non-profit organization dedicated exclusively to these unique products. NAIC’s Compendium of State Laws on Insurance Topics VIATICAL SETTLEMENTS NAIC MODEL ACT AND REGULATION Citation NAIC Model Laws, Regulations and Guidelines, pages 697-1, 698-1 Based on NAIC model The NAIC adopted the first model act, with basic protections, in 1993. Basically, if you’re hyping up your annuity and life products, you’re advertising. This Application will be reviewed by the chief insurance regulatory official in this state to determine whether the Applicant should be given written consent to engage in the business of insurance or participate in the business pursuant to 18 U.S.C. Investment Guidelines – Insurance Companies Investments made for total assets and for tied assets of insurance companies Reference: FINMA circ. Continuing Education Reciprocity Course Approval Guidelines Whereas, the undersigned Insurance Commissioners of the National Association of Insurance Commissioners, hereafter the Commissioners, have determined that it is unnecessary for each State to perform a substantive review of continuing education courses or individual instructors that have … The Code provides certain guidelines and model legislation to help ensure the insurance industry maintains a … Box 12030, Austin, TX 78711 | 512-676-6000 | 800-578-4677 Comprehensive collection of NAIC model laws, regulations and guidelines; state laws on insurance topics; and other regulatory guidance on antifraud and consumer privacy. The NAIC AI Working Group began work on the AI principles in June 2019, using the Organization for Economic Cooperation and Development’s (OECD) AI principles as a model. Market Regulation Regulatory and industry guidance on market-related issues, including antifraud, product fi ling requirements, producer licensing and market analysis. ** a. You must answer every question on the Application. New York Regulation 187 (Reg 187) took effect for annuity sales in August 2019, and for life insurance sales February 1, 2020. The guidelines are intended to assist regulators and NAIC committees when addressing the level of regulatory oversight they should give to insurance-specific AI applications. In an attempt to assist states in regulating misleading insurance advertising and direct mail solicitations, the NAIC developed an "Advertising Code" that most states follow. Introduction The National Association of Insurance Commissioners (NAIC) is a voluntary organization of the U.S. state and territorial insurance commissioners. NAIC Coding Guidelines apply H04 to Blanket Group and H22 as Blanket issued to individuals. Insurance in the United States is regulated primarily by the individual states, rather than by the federal government. and guidelines; state laws on insurance topics; and other regulatory guidance on antifraud and consumer privacy. Western Insurance Agents Association (WIAA Group) 11190 Sun Center Drive, #100, Rancho Cordova, CA 95670 Phone: 800-553-4221 Website: www.wiaagroup.org Workers Compensation Insurance Rating Bureau (WCIRB) 1221 Broadway, Suite 900, Oakland, CA 94612 Phone: 888-229-2472 Ombudsman 415-778-7159 Website: www.wcirb.com. The guidelines are intended to assist regulators and NAIC committees when addressing the level of regulatory oversight they should give to insurance-specific AI applications. Reg 187 added a consumer best interest standard to its previous non-NAIC interpretation of annuity suitability, and added the sale of life insurance policies. National Insurance Convention, National Convention of Insurance Commissioners: The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories On December 13, the National Association of Insurance Commissioners (NAIC) Executive (EX) Committee and Plenary adopted revisions to Actuarial Guideline 49 (AG 49) with an effective date of … Capital Markets & Investment Analysis Information regarding portfolio values and procedures for complying with NAIC reporting requirements. Among other things, these rules require a system of control over the content, form … NAIC Insurance Regulator Professional Designation Program Policies and Requirements 9 PIR Requirements 1. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed by statutory law enacted by the state legislatures. NAIC Uniform Declaration Regarding . Glossary Supplementary Products Accountants, educators, financial analysts, insurers, lawyers and statisticians will find guidelines, handbooks, surveys and NAIC positions on a wide variety of issues. Regulating for Solvency b. Risk-Based Capital c. Surplus Lines d. Risk-Focused IT Review e. insurance, and life insurance policies with no illustrated death benefits on any individual exceeding $10,000. That doesn’t mean you aren’t advertising or marketing your insurance products. The following information relates to the definitions and requirements outlined in the most recent NAIC Model. Every state has enacted regulations for insurance advertising. Filings shall be made utilizing the 2021 Annual Statement Instructions and blanks adopted by the National Association of Insurance Commissioners (NAIC). The NAIC Model Laws, Regulations, and Guidelines (available in the library) contains documents promulgated by the National Association of Insurance Commissioners as proposed statements of insurance laws that should be adopted by the 50 states. Satisfactorily complete five of the qualifying NAIC courses listed below and achieve a passing score of 70% or better on the exam for each course. NAIC Company Code Company Name Contact Person_____Phone: _____Email: _____ STATE OF INDIANA DEPARTMENT OF INSURANCE CERTIFICATE OF ADVERTISING COMPLIANCE (Form to certify compliance with Statute or Administrative Code governing advertising of accident and sickness insurance.) This summary is meant to help place insurers, nonprofit health service plans, health maintenance organizations, dental plan organizations, pharmacy benefits managers, producers and other "regulated entities" authorized to do business in Maryland on notice of certain reporting requirements that are enforced by the Maryland Insurance Administration (MIA). 16/5 Investment Guidelines - Insurance Companies Issued: 3 December 2015 Entry into force: 1 January 2016 Concordance: previously FINMA circ. Insurance industry data directed at regulators, educators, financial analysts, insurance industry members, lawyers and statisticians. The national association crafts proposed legislation and guidelines for adoption on a state-by-state basis. § 1033(e)(2). Most are based upon the NAIC’s model law which both provides general principles for advertising and NAFA was created to promote the awareness and understanding of fixed annuities. The National Association of Insurance Commissioners (NAIC) held its 2019 Spring National Meeting from April 5 through 9 in Orlando, Florida. Model Health Plan for Uninsurable Individuals Act . This model act establishes guidelines for … All Advertising/Sales Material/Brochures All Reports (see below) ... * Blanket health insurance coverage. The NAIC was formed in 1871, making it the nation’s oldest association of state officials. “Everything about race and insurance is on the table,” said Mr. Farmer, who also is director of South Carolina’s insurance department. Guidelines for State Insurance Regulators to the Violent Crime Control and Law Enforcement Act of 1994: United States Code §§ 1033 – 1034 2011 NAIC Antifraud Task Force Adopted 1998 1st Amended 2000 2nd Amended 2002 3rd Amended 2010 NAIC Activities NAIC member directories, in-depth reporting of state OK, so you may not have a billboard, and you might not be running television commercials. Understanding NAIC Model Replacement ... should also be knowledgeable of Athene’s Position and Guidelines on Replacements. To ensure that state regulators have the necessary state authority to monitor and enforce health insurers’ compliance with the Patient Protection and Affordable Care Act (ACA), the NAIC … NAIC #: 27553: California Company ID #: 2143-6: Date Authorized in California: 1973-11-14: License Status: UNLIMITED-NORMAL: Company Type: Property & Casualty 760 IAC 1-18-20(2) The National Association of Insurance Commissioners ("NAIC"), a standards-setting organization comprised of insurance regulators from across all U.S. jurisdictions, has recently adopted twelve Principles for Effective Cybersecurity Insurance Regulatory Guidance (the "Principles"). Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. NAIC Close to Adopting Guideline for IUL Illustrations Frederick Bellamy , Lorna MacLeod , Stephen Roth , Mary Jane Wilson-Bilik Eversheds Sutherland (US) LLP