| this subsection must prepare and file
the reports and forms specified in subsections (f) and (h) of this
section, respectively, with the following exceptions or additional
filings:
(1) a separate accounts annual statement (required
of companies maintaining separate accounts), in paper copy with the
department and electronically with the NAIC, due on or before March
1 for the preceding year ending December 31.
(2) for stipulated premium companies not subject to
the Insurance Code §884.406, all filings with due dates of March
1 under subsections (f) or (h) of this section, are due on or before
April 1. Additionally, a stipulated premium company, unless specifically
requested to do so by the department, is not required to file quarterly
data filings with the department or with the NAIC, if it meets all
three of the following conditions:
(A) it is authorized to write only life insurance on
its certificate of authority;
(B) it collected premiums in the prior calendar year
of less than $1 million; and
(C) it had a profit from operations in the prior two
calendar years.
(3) The Statement of Actuarial Opinion required under
subsections (f)(4) and (h)(1) of this section must be prepared and
filed in accordance with the following:
(A) Companies filing the NAIC Life, Accident and Health
Annual Statement and the Statement of Actuarial Opinion, attached
to the NAIC Life, Accident and Health Annual Statement must follow
the applicable provisions of Chapter 3, Subchapter Q, of this title
(relating to Actuarial Opinion and Memorandum Regulation), except
for companies exempted from the asset adequacy analysis pursuant to §3.1608
of this title (relating to Asset Adequacy Analysis Exemption). Notwithstanding §3.1608
of this title, limited purpose subsidiary life insurance companies
annually must prepare and file the asset adequacy analysis required
under Chapter 3, Subchapter Q of this title. For those companies exempted
from the asset adequacy analysis pursuant to §3.1608 of this
title, the format provided by instructions 1 - 12 of the NAIC Annual
Statement Instructions, Life, Accident and Health, must be followed.
(B) Companies filing the NAIC Health Annual Statement
and the Statement of Actuarial Opinion attached to the NAIC Health
Annual Statement must follow the NAIC Annual Statement Instructions,
Health. In addition, for those companies not exempted from the asset
adequacy analysis pursuant to §3.1608 of this title, the Statement
of Actuarial Opinion must follow the applicable provisions of §§3.1601
- 3.1608 of this title that are not covered in the NAIC Annual Statement
Instructions, Health, including those provisions relating to asset
adequacy analysis.
(C) Any company required by §3.4505(b)(3)(G) of
this title (relating to General Calculation Requirements for Basic
Reserves and Premium Deficiency Reserves) to opine on the application
of X factors, must attach this opinion to the NAIC Life, Accident
and Health Annual Statement or the NAIC Health Annual Statement, as
applicable.
(4) The Texas Health Insurance Pool must prepare and
file the following, in paper copies only with the department:
(A) the NAIC Health Annual Statement with only pages
1 - 6, and Schedule E Part 1, Part 2, and Part 3 to be completed and
filed on or before March 1 for the preceding year ending December
31; and
(B) the NAIC Health Quarterly Statements, with only
pages 1 - 6, Schedule E, Part 1 - Cash, and Part 2 - Cash Equivalents
to be completed and filed on or before May 15, August 15, and November
15;
(5) Each limited purpose subsidiary life insurance
company must complete and file:
(A) the paper copy filings with the department and
the electronic filings with the NAIC specified under subsection (f)(1)
- (9) of this section; and
(B) an actuarial memorandum and a regulatory asset
adequacy issues summary, in paper copy only with the department, in
accordance with and on or before the due dates provided in Chapter
3, Subchapter Q, of this title; and
(6) An insurer ceding business to a limited purpose
subsidiary life insurance company must file the actuarial certification
required under the Insurance Code §841.419, in paper copy only
with the department, due on or before March 1 for the preceding year
ending December 31.
(j) Requirements for certain property and casualty
insurers. Each domestic fire, fire and marine, general casualty, fire
and casualty, or U.S. branch of an alien insurer, a domestic county
mutual insurance company, a domestic mutual insurance company other
than life, a domestic Lloyd's plan, a domestic reciprocal or inter
insurance exchange, a domestic risk retention group, a domestic life
insurance company that is licensed to write workers' compensation;
any domestic farm mutual insurance company that filed a property and
casualty annual statement for the previous calendar year or had gross
written premiums in excess of $6 million for the current calendar
year, a domestic joint underwriting association, the Texas Mutual
Insurance Company, the Texas Windstorm Insurance Association, and
the Texas FAIR Plan Association must complete and file the blanks,
forms, and electronic filings as described in subsection (f) of this
section and this subsection. Each foreign fire, fire and marine, general
casualty, fire and casualty, or U.S. branch of an alien insurer, a
foreign county mutual insurance company, a foreign mutual insurance
company other than life, a foreign Lloyd's plan, a foreign reciprocal
or inter insurance exchange, a foreign life insurance company that
is licensed to write workers' compensation, and any foreign farm mutual
insurance company that filed a property and casualty annual statement
for the previous calendar year or had gross written premiums in excess
of $6 million for the current calendar year must complete and file
the blanks, forms, and electronic filings as described in subsection
(h) of this section and this subsection. The electronic filings with
the NAIC must be completed and filed in accordance with the NAIC data
specifications and instructions and must include PDF format filing,
as applicable. Domestic insurers or other regulated entities described
in this subsection and foreign insurers or other regulated entities
described in this subsection annually must prepare and file the reports
and forms specified in subsections (f) and (h) of this section, respectively,
with the following exceptions or additional filings:
(1) a combined property/casualty annual statement,
if required, due on or before May 1, for the preceding year ending
December 31, in paper copy with the department and electronically
with the NAIC. The combined property/casualty annual statement is
required only for those affiliated insurers that wrote more than $35
million in direct premiums as a group in the previous calendar year,
as disclosed in Schedule T of the NAIC annual statement(s).
(2) an Actuarial Opinion Summary prepared and filed
in accordance with §7.9 of this subchapter (relating to Examination
of Actuarial Opinion for Property and Casualty Insurers).
(3) for Texas county mutual insurance companies, a
Texas Supplement for County Mutuals (Texas Edition) and a Texas Supplemental
"A" for County Mutuals (Texas Edition), in paper copy only with the
department, due on or before March 1. Texas county mutual insurance
companies are not required to file an Analysis of Surplus (Texas Edition)
as described in subsection (f)(8) of this section.
(4) The Texas Windstorm Insurance Association must
complete and file in paper copy with the department and electronically
with the NAIC the filings specified under subsection (f) of this section
and paragraph (2) of this subsection, on or before the due dates required
under those provisions. Additionally, the Texas Windstorm Insurance
Association must prepare and file in paper copy with the department
only:
(A) annual financial statements for each year ending
December 31, due on or before March 1, in accordance with the Insurance
Code Chapter 2210, prepared in accordance with generally accepted
accounting principles as prescribed or modified by the Governmental
Accounting Standards Board or its successor, and in compliance with
the Government Code §2101.011(d) and any related regulations,
guidelines, procedures, or reporting requirements prescribed by the
Comptroller of Public Accounts; and
(B) quarterly financial statements for the first three
quarters of each calendar year, due on or before May 15, August 15,
and November 15, prepared in accordance with generally accepted accounting
principles as prescribed or modified by the Governmental Accounting
Standards Board or its successor.
(5) Notwithstanding §5.9927 of this title (relating
to Annual and Quarterly Financial Statements), the Texas FAIR Plan
Association must complete and file in paper copy with the department
and electronically with the NAIC the filings specified under subsection
(f) of this section and paragraph (2) of this subsection, except that
the annual statements, the Statement of Actuarial Opinions, and all
annual supplements due on or before March 1 under the NAIC instructions
are due on or before March 31; Cont'd... |
