Required Reporting of Disciplinary Actions Pursuant to the Military Personnel Financial Services Protection Act, Pub. L. No. 109-290 (2006)

 Jon M. Huntsman, Jr. Governor Gary R. Herbert Lieutenant Governor # State of Utah INSURANCE DEPARTMENT D. Kent Michie Commissioner ## Bulletin 2008-2 **To:** All Life Insurance Insurers **From:** D. Kent Michie, Utah Insurance Commissioner **Date:** February 26, 2008 **Subject:** 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 a producer or other person who sells life insurance on a military installation unless the insurer has implemented a system to report disciplinary actions taken by the insurer or any Federal or State government entity against its producers for conduct occurring on a military installation. The insurer is required to report such disciplinary actions to both its domiciliary regulator and to the producer'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 Utah must comply with the Federal Reporting Requirement and shall demonstrate to the commissioner, upon request, that they have complied with the reporting requirements. **DATED this 26th day of February 2008.** D. Kent Michie D. Kent Michie Insurance Commissioner State Office Building Suite 3110, Salt Lake City, UT 84114-6901 Telephone (801) 538-3800 • Facsimile (801) 538-3829 • www.insurance.utah.gov