Uniform Transmittal Document for All Property and Casualty Filings

DIVISION OF INSURANCE Frank H. Murkowski, Governor 550 W. 7th Avenue, Suite 1560, Anchorage, Alaska 99501-3567 Telephone: (907) 269-7900 Fax: (907) 269-7910 Text Telephone: (907) 465-5437 E-mail: insurance@commerce.state.ak.us Website: http://www.commerce.state.ak.us/insurance/ BULLETIN B 05-07 TO: ALL ADMITTED INSURERS WRITING PROPERTY AND CASUALTY BUSINESS IN THE STATE OF ALASKA, AND OTHER INTERESTED PARTIES RE: UNIFORM TRANSMITTAL DOCUMENT FOR ALL PROPERTY AND CASUALTY FILINGS Effective immediately, the division will accept the National Association of Insurance Commissioners (NAIC) Uniform Transmittal Document and the Uniform Product Coding Matrix on all lines of property and casualty filings. The division encourages insurers to use the uniform transmittal document and the product coding matrix as a further speed-to-market initiative. The division will continue to make every attempt to provide thorough and efficient review of filings in a minimum amount of time. The NAIC developed the uniform transmittal documents to enable greater uniformity in the information that insurers submit to state insurance regulators to identify the products and corresponding rating systems that they employ. The uniform transmittal documents capture common demographic information to identify the insurer and the product. Designed to fit with the product coding matrices for ease of product identification, the transmittal documents address insurer complaints that states ask for the same information to support product policy form and rate filings, but ask for the information in different ways. The use of the uniform transmittal document and product coding matrix eliminates unnecessary differences in state regulatory requirements while recognizing the different needs of each state’s regulatory system transmittal documents address insurer complaints that states ask for the same information to support product policy form and rate filings, but ask for the information in different ways. The use of the uniform transmittal document and product coding matrix eliminates unnecessary differences in state regulatory requirements while recognizing the different needs of each state’s regulatory system. The uniform transmittal document facilitates the submission of insurance products for regulatory review by integrating all the information previously required in a cover letter into one consistent format. All applicable requirements set out in 3 AAC 31.220 are vicariously satisfied by the transmittal header so that all rate and form filings submitted with a completed transmittal header are not required to have a separate cover letter. Filings submitted to the division for review using the universal transmittal header must still be accompanied by the appropriate completed rate/rule or form checklist and must still comply with all filing submission guidelines with the noted exception above regarding the replacement of the cover letter with the completed transmittal header. To comply with the Alaska statutory definitions of kinds of insurance, several Alaska exceptions to the NAIC Product Coding Matrix must be made. AS 21.12.070(12) defines livestock insurance as “insurance against loss or damage to livestock, and services of a veterinary for the animals.” Therefore, Animal Mortality and Pet Insurance Plans that are included as inland marine in the Product Coding Matrix should be filed as Other Liability type of insurance in Alaska. l Alaska exceptions to the NAIC Product Coding Matrix must be made. AS 21.12.070(12) defines livestock insurance as “insurance against loss or damage to livestock, and services of a veterinary for the animals.” Therefore, Animal Mortality and Pet Insurance Plans that are included as inland marine in the Product Coding Matrix should be filed as Other Liability type of insurance in Alaska. 2 Credit Involuntary Unemployment is not reviewed by the division’s Property and Casualty Filing Section, so Credit Involuntary Unemployment sub-type of insurance is not applicable for a property/casualty filing. Under 3 AAC 31.210(c), a separate filing is required for each line of business. Therefore, Combination and Interline types of insurance filings are not applicable in Alaska. The following table provides the Alaska exceptions to the NAIC Uniform Product Coding Matrix. NAIC ALASKA EXCEPTION ALASKA SERFF EXCEPTION Type of Insurance Filing Code Sub-Type Type of Insurance Filing Code Sub-Type Sub-Type of Insurance Inland Marine 9.0001 Animal Mortality Other Liability 17.0022 Other 17.2022 Other Inland Marine 9.0004 Pet Insurance Plans Other Liability 17.0022 Other 17.2022 Other Credit – Personal Property 28.2004 Credit Involuntary Unemployment Not Applicable Not Applicable Combinations 30.000 Not Applicable Not Applicable Interline Filings 35.000 Not Applicable Not Applicable The Uniform Transmittal Document is available on the NAIC website at http://www.naic.org/rates_forms/trans_docs.htm and the Uniform Product Coding Matrix is available on the NAIC website at http://www.naic.org/rates_forms/unif_prod_matr.htm. The Property and Casualty Checklists; Property, Casualty, and Title Insurance Filing Submission Guide; and Alaska specific instructions for filling out the Uniform Transmittal Document are located on the division’s website at http://www.commerce.state.ak.us/insurance/rates.htm niform Product Coding Matrix is available on the NAIC website at http://www.naic.org/rates_forms/unif_prod_matr.htm. The Property and Casualty Checklists; Property, Casualty, and Title Insurance Filing Submission Guide; and Alaska specific instructions for filling out the Uniform Transmittal Document are located on the division’s website at http://www.commerce.state.ak.us/insurance/rates.htm. If you have questions regarding this bulletin, please contact the Division of Insurance, P.O. Box 110805, Juneau, AK 99811-0805; (907) 465-2515; or via electronic mail at insurance@commerce.state.ak.us Dated this 12th day of August, 2005, at Anchorage, Alaska. Linda S. Hall Director