Assessment Practices and Procedures; Withdraws and Replaces Administrative Letter 2015-11

P.O. BOX 1157 RICHMOND, VIRGINIA 23218 1300 E. MAIN STREET RICHMOND, VIRGINIA 23219 TELEPHONE: (804) 371-9741 www.scc.virginia.gov/boi SCOTT A. WHITE COMMISSIONER OF INSURANCE STATE CORPORATION COMMISSION BUREAU OF INSURANCE October 1, 2018 Administrative Letter 2018- 05 To: All Insurers Licensed and Recognized in Virginia Re: Assessment Practices and Procedures Replacement of Administrative Letter 2015-11 The provisions of this administrative letter replace Administrative Letter 2015-11. The State Corporation Commission Bureau of Insurance (Bureau) has developed a new online Company Assessment Filing Portal (Portal) for the electronic submission of your special assessment filings and payments. Effective January 1, 2019, you are required to submit your assessment filing electronically via the Portal. The submission and the payment is due annually on March 1. Please visit the Bureau’s website at http://www.scc.virginia.gov/boi/co/assess/filing.aspx to access the Portal. There is an Assessable Premium Questionnaire and Worksheet which will assist you in completing your electronic filing submission. Each insurer is responsible for consulting this online resource to file and pay their required assessments. In addition, the Bureau will no longer provide assessment forms to software companies. However, software companies will be provided the Assessable Premium Questionnaire and Worksheet to continue to provide assistance to insurers in the completion of their filings. Electronic payments are permitted but not required. Checks submitted without a payment voucher cannot be processed by the bank and will be returned to the insurer for proper filing. Late payment and filing penalties plus interest will apply to all submissions and resubmissions made after the March 1 due date. If you do not have access to the internet, please call the Administrative Revenue Management Division at (804) 371-9333. Questions regarding this letter may be directed to: Keith D. Kelley Administrative Revenue Management Division, Supervisor State Corporation Commission (804) 371-9333 Keith.Kelley@scc.virginia.gov Sincerely, Scott A. White Commissioner of Insurance