Description

Updated: This item removes Pet Insurance from the Inland Marine line of business and adds a new line of business to the Appendix – P&C Lines of Business. It adds a Pet Insurance line within the existing Property blank to the Underwriting and Investment Exhibits, Exhibit of Premiums and Losses and Insurance Expense Exhibit. Schedule P will be updated to include Part 1U through 4U, specific to Pet Insurance. This adoption is effective January 1, 2024.

Effective 1st Quarter 2024

References: 2023-01BWG Modified

Updated: The reference to Identity Theft Insurance has been removed from the General Instructions. The interrogatory questions from Part 1 that pertain to Identiy Theft Insurance and tail policies were removed and the Identity Theft Insurance column has been removed from Parts 2 and 3. Claims-made and occurrence breakdowns, as well as first-party and third-party breakdowns have been removed from data collection. A new Part 5 – Cybersecurity Coverage by State (with a format similar to Schedule T) has been added to create state level transparance regarding how entities are selling cybersecurity insurance coverage.

Effective Annual 2024

References: 2023-05BWG Modified

Updated: This items adds new instructions and illustrations under Note 21 – Other Items for Net Negative (Disallowed) Interest Maintenance Reserve (IMR) through the addition of Note 21.J and a new General Interrogatory in Part 2 for Life/Fraternal filers (#9) for a company attestation regarding admittance of the asset. Subsequent interrogatories will be renumbered. This item coincides with the SAPWG’s disclosure on Net Negative (Disallowed) IMR (INT 23-01).

Effective Annual 2024

References: 2023-13BWG Modified, INT 23-01

Updated: This item revises the Health Test Language in the General Instructions and General Interrogatories, Part 2 to clarify and create better transparency in the calculation of the premium and reserve ratios within the health test.

Effective Annual 2024

References: 2023-14BWG Modified

New: This item adds a new General Interrogatory to capture the data needed to complete the C-2 mortality risk in the Life Risk-Based Capital (RBC). The new general interrogatory will provide the net amounts at risk in some of the categories used in the Life/Fraternal RBC C-2 mortality risk. The amounts for the reporting categories used are not available elsewhere in the Annual Statement. The addition will allow for direct pulls of information from the Annual Statement to the RBC formula. All subsequent interrogatories within General Interrogatories, Part 2 will be renumbered.

Effective Annual 2024

References: 2023-15BWG Modified

Updated: This item changes Schedule P to show 10 years of data and a “prior” row for all lines of business beginning in 2024. This modifies requirements for seven lines of business that previously only showed 2 years of data and a “prior” row (the short-tail lines: I, J, K, L, S, T and U).

Effective Annual 2024

References: 2023-16BWG Modified

Updated: This item updates the Investment Schedules General Instructions to identify that common and preferred stock residual interests should be reported on Schedule BA. This item is associated with the SAPWG Ref #2023-23.

Effective Annual 2024

References: 2024-01BWG, AP&P Ref #2023-23

Updated: This item adds clarification on what should be reported in interrogatory question 35 for private letter rating securities. There was inconsistent reporting for this interrogatory and with the new instructions it should help identify what needs to be reported.

Effective Annual 2024

References: 2024-03BWG Modified

Updated: This item adds clarifying language to the Annual Statement instructions for the VM-20 Supplement to include Separate Accounts, where applicable.

Effective Annual 2024

References: 2024-04BWG

Updated: This item adds language to General Interrogatories, Part 1 question 29.05 (Annual) and 17.5 (Quarterly) to clarify that all investment advisors with discretion to make investment decisions, including sub-advisors, should be disclosed through the interrogatory.

Effective Annual 2024

References: 2024-05BWG

Updated: For Property insurers, this modification limits the requirement to send qualification documentation to the Board of Directors and regulators only at the initial appointment and not annually thereafter. For Title insurers, this item updates the Title instructions so they are similar to the Property instructions.

Effective Annual 2024

References: 2024-06BWG

Updated: This item updates the illustration under the new Note 21.J – Investments for Net Negative (Disallowed) Interest Maintenance Reserve (IMR) to add a Separate Account breakout. It also adds a new general interrogatory for a company attestation for separate accounts net negative (disallowed) IMR. This item is associated with 2023-13BWG Modified adopted earlier in 2024.

Effective Annual 2024

References: 2024-07BWG, 2023-13BWG Modified

Updated: This item updates the instructions for Interest Maintenance Reserve and Asset Valuation Reserve to include specific guidance for NAIC Designation changes for debt securities (excluding LBSS), mortgage loans and perpetual preferred stocks. This item is associated with the SAWPG revisions in Ref #2023-15 and Ref #2023-29.

Effective Annual 2024

References: 2024-08BWG, AP&P Ref #2023-15, AP&P Ref #2023-29

Updated: This item updates the Life/Fraternal crosscheck for Column 1 to Exhibit 1, Part 1, Column 6. The previous validation was checking for collected premiums instead of written premiums.

Effective Annual 2024

References: NAIC Editorial Revisions to the Blanks and Instructions

Updated: This item adds clarifying instructions for pages that are all NO responses to not be included in the filing: A schedule must be prepared and submitted for each jurisdiction in which the company answered “Yes” to having MCAS Reportable Premiums/Considerations. Supplement pages should not be filed for any state or jurisdiction where the company would file all “No” responses.

Further clarification was added regarding Fraternal companies filing the MCAS Supplement. Fraternal Benefit Societies are not currently required to file an MCAS and should answer “No” to Interrogatory 36 on the Life/Fraternal statement’s Supplemental Exhibits and Schedules Interrogatories.

Effective Annual 2024

References: NAIC Editorial Revision to the Blanks and Instructions

Updated: This item updates the Life/Fraternal blank on the Summary of Operations page, removing the crosscheck reference to Exhibit 1, Part 1. The Summary of Operations includes YRT business and Exhibit 1, Part 1 does not.

Effective Annual 2024

References: NAIC Editorial Revisions to the Blanks and Instructions

Updated: This item updates the line reference to the Underwriting and Investment Exhibit, Part 1 to Line 16 instead of Line 12 when cross-checking to Line 61 of Schedule T.

Effective Annual 2024

References: NAIC Editorial Revisions to the Blanks and Instructions

Updated: This item adds a line to Schedule P, Part 7A and 7B for Pet Insurance. It renumbers Line 9 to 9.1 Inland marine and adds Line 9.2 Pet insurance to the Premiums Attributed to Protected Cells Exhibit and EBUB Exhibits. These items were missed in 2023-01BWG Modified when it was exposed and adopted.

Effective Annual 2024

References: NAIC Editorial Revisions to the Blanks and Instructions