Enterprise Risk Report Reporting Requirements for 2015

BULLETIN 15-15 To: Presidents, Insurers Domiciled in Maryland Re: Enterprise Risk Report Reporting Requirements Date: May 19, 2015 Beginning in 2015, §7-603(h) of the Insurance Article, Annotated Code of Maryland, requires the ultimate controlling person of every insurer subject to registration to file with the Commissioner an annual Enterprise Risk Report, or “Form F”, identifying material risks within the insurance holding company system that could pose enterprise risk to the insurer (the “Form F filing requirement”). The Enterprise Risk Report is due on or before July 1 each year unless the Commissioner extends the time for filing for good cause. The Enterprise Risk Report should be in the form and have the content included in the most current NAIC Insurance Holding Company System Model Regulation, #450. The current reporting forms and instructions can be found at http://www.naic.org/documents/committees_f_2b_450_redlined.pdf. If any item is applicable or the answer thereto is in the negative, an appropriate statement to that effect shall be made. Please note: the Form F filing requirement does not have a premium threshold. All insurers that are subject to registration and in an insurance holding company system are required to file a Form F. The Form F is a state filing only and should not be submitted by the company to the NAIC. Pursuant to §7-603(h)(3) of the Insurance Article, Annotated Code of Maryland, the Enterprise Risk Report shall be filed with the lead state commissioner of the insurance holding company system as defined and determined by the procedures in the Financial Analysis Handbook adopted by the NAIC. AL REDMER, JR. Commissioner NANCY GRODIN Deputy Commissioner LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 410-468-2000 1-800-492-6116 TTY: 1-800-735-2258 www.insurance.maryland.gov Enterprise Risk Reports required to be filed with Maryland should be delivered to the following address (or emailed to Lynn.Beckner@maryland.gov) on or before July 1: Chief Financial Analyst Maryland Insurance Administration 200 St. Paul Place, Suite 2700 Baltimore, Maryland 21202 Any questions about this Bulletin or the Form F filing requirement may be directed to: Lynn Beckner, Chief Financial Analyst Lynn.Beckner@maryland.gov (410) 468-2126 ALFRED W. REDMER, JR. INSURANCE COMMISSIONER By: _ Michele T. Oshman Associate Deputy Commissioner Signature on original