Foreign RRG State Requirements/Issues. STATE CATEGORY AMOUNT DESCRIPTION NOTES ALABAMA Registration - Initial Fee 200

Transcription

1 State /Issues Registration - Initial Fee 200 Fees increased from 150 to 200 Registration - Forms Required? Yes-NAIC 200 Fees increased from 150 to 200 Annual renewal invoice and fee payment Sales/Distribution Registration - Initial Fee 1,000 Registration - Forms Required? Yes - State and UCAA SOP Registration filing will be "rejected" if not submitted in state required format; State routinely issues statement that the RRG is prohibited from writing business until registration is confirmed 200 Annual registration renewal form with fee payment Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes -state forms Sales/Distribution AR Registration - Initial Fee 750 Fee increased from 250 AR Registration - Forms Required? Yes; NAIC AR AR 200 Included in tax filing; fee increased from 100 Included in tax filing AR 50 Annual statement filing fee AR AR AR AR AR Sales/Distribution Registration - Initial Fee 988 Fee increased from 898 Registration - Forms Required? Yes; NAIC + State SOP State employs review process that can entail several rounds of inquiries; can take 1-3 years before registration is "confirmed"; CA Code Section 132 prohbits RRG from writing business on less than 60 days written notice 300 Annual Registration renewal form; must be signed by President and Secretary; submit with fee; can involve 1-3 rounds of inquiries before registration "renewal" is confirmed State maintains Med mal RRGs must comply with any requests for annual claims report and attest to compliance on annual registration renewal insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state; UCAA SOP Provide balance sheet certified by CFO/Treasurer for new RRG Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC Producer licensing bulletin acknowledgment executed by RRG officer; State employs a review process - can take several months; other info requests have included copy of LOC, proof of capitalization, etc. State maintains RRGs are subject to quarterly closed claim reporting insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 100 Registration - Forms Required? Yes-NAIC 100 Included in tax filing Included in tax filing 50 Must file annual statement and related documents on CD Sales/Distribution DISTRICT OF COLUMBIA Registration - Initial Fee 250 DISTRICT OF COLUMBIA Registration - Forms Required? Yes-state DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA 250 DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA Submit renewal invoice with fee payment DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state; multiple forms; electronic application required

2 State /Issues Must include all state RRG registration forms and designate FL licensed agent who holds at least 1 insurer appointment in Florida or the registration filing will be returned as "rejected"; Most extensive of review processes employed by states - may involve multiple rounds of 4-7 page lists of inquiries with very short (7 days typically) response times mandated and threats of rejection for failure to timely respond; submit state specific projections; requires RRGs to register with Fla. Secretary of State; routinely issues statement that no business to be conducted until application is "approved" 150 Annual corporate list filing fee to Secretary of State Electronic reporting to Dept portal Requires med mal RRGs to comply with state reporting (F.S. s ) Sales/Distribution Must designate a FL licensed agent; must appoint and pay appointment fee via Florida E- appoint system Registration - Initial Fee 100 Registration - Forms Required? Yes-state State "check sheet" and "Citizenship Affidavit" Annual statement filing fee 200 Annual "check sheet" and "Citizenship Affidavit" update; must file quarterly statements Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 200 Registration - Forms Required? No; may file NAIC State maintains med mal RRGs must comply with quarterly claim reporting (215 ILCS 5/155.19; IL Admin Reg. Part 928) Sales/Distribution Registration - Initial Fee 110 Registration - Forms Required? Yes-NAIC RRG Information Sheet 100 (Retaliatory) Annual statement filing fee Annual state filing fee form Sales/Distribution Registration - Initial Fee 100 Registration - Forms Required? No; may file NAIC 100 Submit annual renewal invoice with fee payment; submit jurat page quarterly insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 250 Registration - Forms Required? Yes-state/NAIC-UCAA SOP certified balance sheet Submit "annual review form" with tax filing Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state Sec of State, not Ins. Comm'r, is designee for Service of Process 200 -statement filing fees; See notes 1.8% policy surcharge in addition to state prem tax of 2% + municipal tax ranges from 2-14% Sales/Distribution Registration - Initial Fee 1,000 State reinstated registration fee; maintains such action does not contravene NRRA v. Brown decision

3 State /Issues Registration - Forms Required? yes-naic requests for additional information/inquiries Varies Annual municipal license tax payable to each municipality Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state Certificate of Compliance-copy OK Must make annual Fraud & Abuse Report filing this filing requirement has to Dept. website or risk registration been disputed; State Dept. "cancellation" maintains this filing requirement is not preempted by LRRA insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 75 Registration - Forms Required? Yes-state; UCAA SOP requests for additional information/inquiries before "confirmation" is issued Annual Statement filing fee required to "renew" 25 registration See notes In the past this state has imposed Anti-fraud fee on RRGs; at present, the state has removed the fee requirement (NRRA/others disputed) Annual renewal form required Sales/Distribution Registration - Initial Fee 125 Registration - Forms Required? Yes-NAIC State Supplement form for RRGs 125 Annual Registration renewal form with payment; state requests bio affidavits for new officers/directors Sales/Distribution Registration - Initial Fee 25 Registration - Forms Required? Yes-state; several forms required State employs a review process that typically involves at least 1 "review" letter; must name agent/broker holding surplus lines license Annual statement filing fee 25 Sales/Distribution must name agent/broker holding surplus lines license in the State Registration - Initial Fee - Registration - Forms Required? Yes-NAIC routinely refuses to "confirm" registration until an annual financial statement and exam report are filed; has outright rejected/refused to register RRGs based on state standards of financial hazard (regardless of approval standing in domicile); routinely issues statement that the RRG is not registered until notification is issued by the Dept Varies In the past, the Dept has issued invoices for tin the past, typically, desk audit fees charged every other year insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - In the past, this state assessed initial and annual renewal fees of 500; legislation removed this fee requirement (on basis of preemption by fed law) Registration - Forms Required? Yes-state Annual registration "renewal" required - form must be executed by President and Secretary; file jurat quarterly via online portal Sales/Distribution Registration - Initial Fee 100 Registration - Forms Required? Yes-state Annual statement 100 filing fee; invoiced by Dept. A RRG insuring vehicle service contract provider must meet min regulatory cap/surpl Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state

4 State /Issues Annual Prof Liability Experience report insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - Registration - Forms Required? No; may file NAIC Annual statement 200 filing fees Sales/Distribution Registration - Initial Fee Registration fee Ins. Administration Registration - Forms Required? yes-naic; UCAA-SOP List of registration states Invoiced by Dept. with AS filing fee and 250 Ins. Admin Fund fee 25 Annual Statement filing 275 fee Ins. Admin Fund fee - invoiced by Dept with 250 RRG registration renewal fee insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC 100 AS filing 105 fee; 5 compliance cert fee Sales/Distribution Registration - Initial Fee 100 Registration - Forms Required? Yes-state Must name agent licensed in the State Annual Statement filing fee (no fee due 100 if tax is paid in the State) Sales/Distribution Maintain agent licensed in the State Registration - Initial Fee 500 Registration - Forms Required? Yes-state typically requests certified Articles of Incorporation, certified bylaws, officer/director biograhical affidavits 200 Annual renewal invoice with fee payment + State contact processing form (if any changes) and original certificate of compliance Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC; State SOP additional requests for information/inquiries; can take several months until "confirmation" of registration is issued File jurat page quarterly State maintains med mal RRGs must comply with quarterly claim reporting Non--domestic RRGs are not "authorized" insurers for purposes of satisfying fin responsibility under NY vehicle/traffic statutory provisions Sales/Distribution Registration - Initial Fee 500 Registration - Forms Required? Yes-state 1,500 Submit state renewal form executed by President with annual renewal fee State maintains med mal RRGs must file annual prof liab claims report Sales/Distribution Persons/agents acting for RRGs must obtain separate "risk retention" license Registration - Initial Fee 60 Registration - Forms Required? Yes-state 10 Submit state annual "renewal" form with fee payment

5 State /Issues insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC Sales/Distribution Registration - Initial Fee Registration - Forms Required? Yes-state SOP State checklist; state employs review process that can take several weeks to several months before "confirmation" is issued See Notes In past, the State has required RRGs to pay Anti- Fraud fee -- the State has changed its position several times - currently N/A to RRGs insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 350 Registration - Forms Required? Yes-state feasibility study, COA & Articles of Inc. certified by domicile; State employs a review process that can take several months 350 Included in tax filing Sales/Distribution Registration - Initial Fee 300 Registration - Forms Required? Yes-NAIC To be deemed "approved" as insurer for health care provider under MCARE (Act 13 of 2002), RRG must meet minimum cap/surplus of domestic insurer (750k/375k) Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC Informational Questionnaire 100 Submit state renewal invoice with annual fee Sales/Distribution Registration - Initial Fee 1,200 Registration - Forms Required? Yes-State Capital/Surplus certification by domicile 1,200 Biennial fees; included in tax filing Varies Annual municipal license taxes to Municipal Association of SC Annual report to Municipal Association of SC for municipal license tax payment Sales/Distribution Registration - Initial Fee - Registration - Forms Required? No; may file NAIC Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-state Sales/Distribution TEXAS Registration - Initial Fee 250 TEXAS Registration - Forms Required? Yes-state TEXAS Submit 3 yr TX prem projections; state employs a review process that can take several weeks and entail 1-3 rounds of requests for additional information/inquiries; routinely issues statement that RRG may not solicit business pending Dept issuance of registration confirmation TEXAS 250 Included in tax filing

6 State /Issues TEXAS Varies TX Med Liab Ins Underwriting Assn (JUA) Membership fee/assessment applies to all liability insurers; Auto Theft Prevention Assessment; various fees assessed with tax reporting TEXAS Annual registration "renewal"; Dept requests submission of bios for new officers/directors; RRG agents must submit annual premium report TEXAS TEXAS TEXAS insurers of vehicle service contract providers TEXAS Sales/Distribution RRG agents must file annual premium report to Ins. Dept. Registration - Initial Fee 300 Registration - Forms Required? Yes-state Utah Disclosure Statement; NAIC Risk Retention Reporting Form Invoiced by the Dept. 450 Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC State requests foreign RRGs to file copy of Actuarial Opinion Summary insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC; State-SOP State employs a review process that can take several months and include requests for additional information/inquiries Annual maintenance fee 300 Included in tax filing Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-NAIC multiple requests for information/inquiries State maintains med mal RRGs subject to claims reporting under RCW Chapter if RRG fails to report, responsibility falls to insured insurers of vehicle service contract providers Sales/Distribution Registration - Initial Fee 200 Registration - Forms Required? Yes-NAIC Capital/Surplus certification form certified by domicile; NAIC RRG Report Form Annual statement filing fee 100 Included in tax filing Sales/Distribution Registration - Initial Fee - Registration - Forms Required? Yes-State SOP OMIC decision - RRGs not recognized as "authorized" insurers Sales/Distribution Must be licensed SL WYOMING Registration - Initial Fee 200 OMIC v. Musser: OMIC sued the Insurance Commissioner in federal court over a law that required doctors to prove financial responsibility through insurance coverage from an admitted carrier. The district court granted summary judgment in favor of the I.C. finding that the law neither regulated or discriminated against RRGs and was proper under 3905(d) of the LRRA. OMIC appealed and the 7th Circuit upheld the district court's opinion based on propriety under 3095(d) of the LRRA. The issue of discrimination was not raised on appeal. OMIC attempted to raise this issue again in 2006 through the state ophtalmic society and via direct communications with the DOI. Ultimately the DOI did not change its position.