REQUIRED REPORTING OF DISCIPLINARY ACTIONS PURSUANT TO THE MILITARY PERSONNEL FINANCIAL SERVICES PROTECTION ACT, PUB. L. No. 109-290 (2006)

Home Bulletins 2008 Bulletins cc6.html February 25, 2008 To:   ALL LIFE INSURANCE COMPANIES REGULATED BY THE TEXAS DEPARTMENT OF INSURANCE AND AUTHORIZED OR ELIGIBLE TO DO BUSINESS IN TEXAS; AND TO THEIR AGENTS AND REPRESENTATIVES AND THE PUBLIC GENERALLY Re:   REQUIRED REPORTING OF DISCIPLINARY ACTIONS PURSUANT TO THE MILITARY PERSONNEL FINANCIAL SERVICES PROTECTION ACT, PUB. L. No. 109-290 (2006) Subsection 12(a) of the Military Personnel Financial Services Protection Act , Pub. L. No. 109-290 (2006), prohibits an insurer after September 1, 2007, from entering into or renewing a contractual relationship with an agent or other person who sells life insurance on a military installation unless the insurer has implemented a system to report disciplinary actions taken by: (1) the insurer or (2) any Federal or State government entity against its agents for conduct occurring on a military installation. The insurer is required to report such disciplinary actions to both its domiciliary regulator and to the agent's resident regulator ("The Federal Reporting Requirement"). To simplify the Federal Reporting Requirement for insurers, the NAIC has implemented a Military Sales Online Reporting System that may be accessed at the following Web link of the National Association of Insurance Commissioners: https://external-apps.naic.org/msors/. The Military Sales Online Reporting System will, in turn, forward the reported information to all appropriate state insurance departments. Reporting via Military Sales Online Reporting System will satisfy the mandate of the Federal law. We strongly encourage you to use the Military Sales Online Reporting System. All insurers doing business in this state must comply with the "Federal Reporting Requirement" and shall demonstrate to the Commissioner, upon request, that they have complied with the reporting requirements. Mike Geeslin Commissioner of Insurance Last updated: 7/15/2025