Regulation of Multi-Peril Crop Insurance (MPCI)

EARL R. POMEROY COMMISSIONER OF INSURANCE State of North Dakota DEPARTMENT OF INSURANCE Fifth Floor State Capitol Bismarck, North Dakota 58505 Telephone (701) 224-2440 Consumer "HOTLINE" 1-800-247-0560 # BULLETIN 90-4 TO: All Companies Writing Multi-Peril Crop Insurance (MPCI) in North Dakota FROM: Earl R. Pomeroy, Commissioner of Insurance DATE: October 16, 1990 SUBJECT: Regulation of Multi-Peril Crop Insurance (MPCI) It has come to our attention that the Federal Crop Insurance Corporation (FCIC) issued a new regulation on June 6, 1990, which purports to preempt state insurance law governing the responsibilities and duties of insurance companies licensed to do business in this State. This department does not recognize the FCIC's authority to issue this Rule and will expect all licensed insurers to continue to meet all requirements imposed by North Dakota statutes, including but not limited to the timely reporting and payment of premium tax, form and rate filing requirements, and conduct consistent with the Prohibited Practices in Insurance Business Act. Failure to comply with all applicable provisions of North Dakota law will result in disciplinary action jeopardizing your continued Certificate of Authority to transact the business of insurance in this State. ERP/lm/ds