Credit Insurance Statistical Experience Reports

BULLETIN 06-20 DATE: October 25, 2006 TO: All Life Insurance Companies Licensed to do Business in the State of Maryland and all Property and Casualty Insurance Companies Selling Credit Involuntary Unemployment Insurance in Maryland Re: Credit Insurance Statistical (Experience) Reports In previous years the Maryland Insurance Administration had been sending an annual reminder regarding the credit insurance statistical report that is required by COMAR 31.13.01.06 and COMAR 31.13.03.06. The notification has included blank forms to be used for such reports. Effective immediately, beginning with reports showing 2006 experience, the Administration will no longer send out such a notice. The statistical experience reports required by COMAR 31.13.01.06 and COMAR 31.13.03.06 must be filed for each calendar year by April 30 of the subsequent year for case business and by June 30 for non-case business. The forms to be used for such reports can be found on our website by going to www.mdinsurance.state.md.us. Go to “Insurer Services” located on the left side, then to “Company Filing Requirements” also on the left side. Scroll down to “Credit Insurance Required Filings.” There is a bullet for Credit Life and Credit Health Insurance Experience Reports and another for Credit Involuntary Unemployment Benefit Insurance Experience Reports. If you do not have any credit insurance in force in Maryland in a given year, it is no longer necessary to file a report showing “none.” If we do not receive a credit insurance experience statistical report for a particular year, the lack of such a report will be considered to be evidence that no such insurance is in force. Failure to file the reports required by the above cited regulations will subject a carrier to administrative action. Any questions about this bulletin should be directed to the Life/Health Section of the Maryland Insurance Administration at 410-468-2170. R. Steven Orr Insurance Commissioner By: ____________________________ Howard Max Associate Commissioner Life and Health Section R. STEVEN ORR Commissioner JAMES V. MCMAHAN, III Deputy Commissioner HOWARD MAX Associate Commissioner Life and Health ROBERT L. EHRLICH, JR. Governor MICHAEL S. STEELE Lt. Governor 525 St. Paul Place, Baltimore, Maryland 21202-2272 Direct Dial: 410-468-2205 Fax: 410-468-2204 Email: hmax@mdinsurance.state.md.us 1-800-492-6116 TTY: 1-800-735-2258 www.mdinsurance.state.md.us