Annual reporting requirement for P&C companies

Bulletin 53 NEW ANNUAL REPORTING REQUIREMENT FOR PROPERTY/CASUALTY COMPANIES June 1, 1986 This Bulletin is directed to all companies writing property and casualty insurance in the State of Indiana. Senate Enrolled Act 235, as passed during the recent session of the Indiana Legislature and signed by Governor Orr on March 10, 1986, amends IC 27-1-20-21 and reads as follows: (b) A company that during the previous calendar year provided insurance of the type described in IC 27-1-5-1, Class 2(h), to one (1) or more Indiana political subdivisions (as defined in IC 34-4- 16.5-2(5)) or that provided Class 2(h) type insurance covering liability risks related to the ownership or operation of establishments in Indiana at which alcoholic beverages are sold and consumed shall file with the department, as an additional part of the financial statement required under subsection (a), an exhibit of premiums and losses reflecting the company's financial results exclusively in connection with that insurance. The exhibit must set forth figures indicating: (1) direct premiums written; (2) direct premiums earned; (3) direct losses paid; (4) direct losses incurred; and (5) direct losses unpaid; for the year of the financial statement in connection with all insurance described in this subsection. In order to comply with the above stated requirement on reporting your liability insurance experience please observe the following guidelines: 1. On Line 10 of Page 14 of the Annual Statement insert the heading Political Subdivision and show the related figures accordingly. 2. Create new line 10.1, insert the heading Liquor, and show the related figures accordingly. 3. The data displayed in lines 10 and 10.1 should not be included in the data displayed in any other lines on Page 14 of the Annual Statement. For your information, IC 34-4-16.5-2 defines a political subdivision as a 1. County 6. Special taxing district 2. Township 7. State college or university 3. City 8 nsert the heading Liquor, and show the related figures accordingly. 3. The data displayed in lines 10 and 10.1 should not be included in the data displayed in any other lines on Page 14 of the Annual Statement. For your information, IC 34-4-16.5-2 defines a political subdivision as a 1. County 6. Special taxing district 2. Township 7. State college or university 3. City 8. City or county hospital 4. Town 9. School corporation or 5. Separate municipal 10. Board or commission of one corporation of the entities listed above State agencies such as boards, commissions, departments, divisions, governmental subdivisions including soil and water conservation districts, bureaus, committees, authorities, military bodies, or other instrumentalities of the state are not included. Please contact Jim Ruhmann at (317) 232-2428 or Dave Todd at (317) 232-1992 if you have questions. Harry E. Eakin INSURANCE COMMISSIONER