Bulletin No. PC 2009-02: Reporting Requirements for the National Motor Vehicle Title Information System (“NMVTIS”)

Oklahoma INSURANCE Department State of Oklahoma 2401 N. W. 23rd, Suite 28 • P.O. BOX 53408 • OKLAHOMA CITY, OK 73152-3408 • (405) 521-3681 • IN STATE 1-800-522-0071 • FAX (405) 522-3761 BULLETIN NO. PC 2009-02 TO: ALL PROPERTY & CASUALTY INSURERS ALL INSURERS ON THE NAIC QUARTERLY LISTING OF ALIEN INSURERS FROM: KIM HOLLAND, INSURANCE COMMISSIONER RE: Reporting requirements for the National Motor Vehicle Title Information System (“NMVTIS”) DATE: April 7, 2009 On January 30, 2009, the United States Department of Justice promulgated a final rule implementing certain reporting requirements for the National Motor Vehicle Title Information System (“NMVTIS”). This rule requires insurance carriers to report, on a monthly basis, all automobiles of the current model year or any of the four prior model years that the insurance carrier has obtained possession of and has decided are junk automobiles or salvage automobiles. An insurance carrier is also required to report any vehicle designated as a total loss under the laws of the applicable jurisdiction or the terms of the insurance carriers’ policy. Insurance carriers are required to provide the following information to the NMVTIS: • VIN; • Date on which the automobile was obtained or designated as a junk or salvage automobile; • Name of the individual or entity from whom the automobile was obtained (owner name or lien-holder name) (for law enforcement and appropriate governmental agencies ONLY); • Who possessed the automobile when it was designated a junk or salvage automobile; and PC 2009-02 Page 2 2401 N. W. 23rd, Suite 28 • P.O. BOX 53408 • OKLAHOMA CITY, OK 73152-3408 • (405) 521-3681 • IN STATE 1-800-522-0071 • FAX (405) 522-3761 • Name of the owner of the automobile at the time of the filing of the report with NMVTIS (either the insurance company or the owner, if owner-retained). The America Association of Motor Vehicle Administrators (“AAMVA”) has been designated as the third-party operator and administrator of the NMVTIS. Insurance carriers can submit the required reports to the AAMVA through approved, thirdparty organizations that have agreed to provide such a service. Additional information regarding the NMVTIS, insurance carriers’ reporting obligations, approved, third-party reporting organizations, and the newly promulgated rule can be found at http://www.nmvtis.gov/index.html. Questions or comments applicable to this bulletin should be directed to Caleb J. Muckala, Assistant General Counsel at Caleb.Muckala@oid.ok.gov of the Legal Division of the Oklahoma Insurance Department, P. O. Box 53408, Oklahoma City, OK 73152-3408. The Oklahoma Insurance Department encourages readers of this notice to periodically check the Department’s web site http://www.oid.ok.gov/ for news and updates to Bulletins and other relevant material.