Flood and Rain Events Claims Data Call

State of Vermont For consumer assistance: Department of Financial Regulation [Banking] 888-568-4547 89 Main Street [Insurance] 800-964- 1784 Montpelier, VT 05620-3101 [Securities] 877-550-3907 www.dfr.vermont.gov Insurance Bulletin No. 227 TO: All Licensed and Surplus Lines Property / Casualty Insurance Companies RE: Flood and Rain Events Claims Data Call October 18, 2023 On July 9, 2023, Governor Phil Scott declared a State of Emergency to enhance Vermont’s preparedness and expedite the response to the severe flooding and heavy rainfall that occurred in July 2023. Pursuant to 8 V.S.A. §13, Kevin J. Gaffney, Commissioner of the Department of Financial Regulation (DFR), issues this data call to collect claim data associated with the flooding and rain events that impacted so many Vermonters throughout the summer. As detailed below, property and casualty insurers (including surplus lines or non-admitted insurers) are directed to report information regarding all claims associated with the flooding and rain events that occurred in Vermont, with a date of loss between July 7, 2023, and September 1, 2023. Claims data should not be limited to claims within the time period and/or counties identified in FEMA's disaster notices. Timelines The first report is due by November 17, 2023, containing cumulative claims data as of October 31, 2023. The department will request a second report, and the due date will be shared when it is available. Lines of Business The reported data shall include information on claims related to all flooding and rain events in the State of Vermont, with a date of loss between July 7, 2023, and September 1, 2023, affecting the following lines of business: • Residential Property o Sub -TOI 4.0001 Condominiums o Sub-TOI 4.0002 Mobile Homeowners o Sub-TOI 4.0003 Owner Occupied Homeowners o Sub-TOI 4.0004 Tenants Homeowners o Sub-TOI 4.0005 Other Homeowners o Sub-TOI 30.0 Homeowners/Auto Combinations o Sub-TOI 30.1 Dwelling Fire o Other DFR BULLETIN #227 | FLOOD AND RAIN EVENTS CLAIMS DATA CALL PAGE 2 OF 6 • Commercial Property • Personal Auto • Commercial Auto • Business Interruption • Farm Owners o Sub-TOI 3.0 Personal Farm Owners o Sub-TOI 5.0006, 5.1006, and 5.2006 Commercial Farm and Ranch • Private Flood • Federal Flood • Excess Flood • Inland Marine • Crop Data to Report Tab #1 – Introduction & Company Information Tab #2 - Number of Policies in Force – Provide the number of policies in force as of July 1, 2023 in all zip codes and towns by line of business. This number will remain static throughout any subsequent reporting submissions. Tabs #3- #13 – Column A. Claim/Loss Location 5 Digit Zip Code Column B. Name of County Column C. Name of Town Column D. Date of Loss Column E. Policy Type for Residential Property and Farm Owners only (see dropdown menus). Column F. Number of Claims Reported by Date of Loss and Zip Code – Provide the cumulative number of claims reported that were associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column G. Number of Claims Closed With Payment by Date of Loss and Zip Code – Provide the cumulative number of claims closed with payment that were associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column H. Number of Claims Closed Without Payment by Date of Loss and Zip Code – Provide the cumulative number of claims closed without payment that were associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. DFR BULLETIN #227 | FLOOD AND RAIN EVENTS CLAIMS DATA CALL PAGE 3 OF 6 Column I. Average Number of Days to Close Claims – Provide a simple average of the number of days it took to close the claims associated with, or resulting from, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column J. Paid Loss – Provide the cumulative dollar amount in paid loss associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column K. Case Incurred Loss – Provide the cumulative dollar amount in case incurred loss associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column L. Number of Total Loss Claims – Provide the cumulative number of total-loss claims that are associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. Column M. Number of Open Claims – Provide the total number of open claims that are associated with, or as a result of, all flooding and rain events in the State of Vermont, with a date of loss between 7/7/2023 and 9/1/2023. A snapshot of the reporting template is provided in Appendix A. Reporting Procedure The report must be submitted using the designated template, which is available for download at the online portal managed by the NAIC. All reports must be submitted through the NAIC online portal. To access the NAIC system, send an email to help@naic.org requesting the following permission: RDC_VT2023FLOOD_USER_PR. Please be sure to do this early to ensure timely submission. It may take at least one business day to process this request. Once the permission is assigned, the report must be submitted by logging into the NAIC reporting portal, selecting “PAC” as the “datacallgroup,” and selecting “VT_2023_FLOOD.” Before attempting to submit a file, please review the “File Submission Guide” available for download at this online portal managed by the NAIC. Group or Individual Company Reporting Will Be Accepted DFR will accept submissions at either the group or individual company level. If reporting by group, please include all companies in the group or ensure that no companies are duplicated within separate submissions. Individual companies, not part of a group, should provide their company code in the group code field on the template. Surplus carriers should use their alien insurance number which should begin with “AI.” Carriers without an identification code from the NAIC should contact researchshared@naic.org for a code to include in the company and group code fields of the template. The reporting template will require information on the group, company, or both. If a company is submitting an individual report, input your NAIC code and company name wherever the DFR BULLETIN #227 | FLOOD AND RAIN EVENTS CLAIMS DATA CALL PAGE 4 OF 6 template requests the group code or group name. Failing to do this will trigger a rejection of the upload. Group submissions must list all companies in the response on the reporting template. Companies With No Information to Report A group or individual company that determines it has no claim information to report based on what is required, shall complete Tabs #1 and #2, and also submit reports with zeroes in the first row of Tabs #3 – #13 in the template provided. This requirement will help the DFR monitor companies that are expected to respond to the data call. Companies that do not write any Vermont business in the lines of business listed above are not obligated to submit reports for this data call. Definitions Payment – Loss payment, excluding adjustment expenses. Payments should be net of actual salvage and subrogation recoveries. For applicable lines, include losses associated with loss of use, additional living expense, fair rental value, etc. Case incurred loss – Indemnity case reserves plus claim payments made to date. Estimates of IBNR should not be included. Information on the named disaster event can be found at FEMA Disaster Information. DFR will provide updated frequently asked questions as needed. Please submit questions to Rosemary Raszka at Rosemary.Raszka@vermont.gov. Kevin Gaffney, Commissioner Date 10/18/2023 Appendix A Intro Tab Policies In Force Residential Property Commercial Property Personal Auto Commercial Auto Business Interruption Farm Owners FLOOD AND RAIN EVENTS 2023 VERMONT Claims As Of Date: 10/31/2023 IMPORTANT: All yellow cells are required! NAIC Group Code: Group Name: NAIC Company Codes: Company Names: Data Call Reporting Schedule: 1st Report October 31, 2023 November 17, 2023 Company Notes: CONFIDENTIALITY NOTICE The State of Vermont authorizes the collection of information in the VT FLOOD data call (the “Confidential information”), all of which shall be deemed to be confidential and exempt from public disclosure in accordance with state law. The State’s contract with the NAIC requires the NAIC to protect and maintain the Confidential information. All Confidential information shall be protected and maintained in accordance with such contract and using reasonable security measures similar to those measures used by the NAIC for the protection of its own Confidential information of a similar kind. NAIC Group Code is a required field. Your file will fail without it. If you are not part of a group and therefore have no group code/name, please include your company code and name above. Group/Company Contact Name (FORMAT = First Last): E-Mail Address (FORMAT = x@x.xxx): Phone Number (FORMAT = xxx-xxx-xxxx): Data Call Report Number Cumulative Claims Data Reported As Of Report Due Date 5 Digit ZIP Code County Town Residential Property Commercial Property Personal Auto Commercial Auto Business Interruption Farmowner Private Flood Federal Flood Excess Flood Inland Marine Crop Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Policy Type Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Policy Type (tip: cumulative by ZIP Code) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Bulletin 227 – Appendix A | Page 5 Bulletin 227 – Appendix A | Page 6 Appendix A – cont’d Private Flood Federal Flood Excess Flood Inland Marine Crop Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Federal Flood Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Excess Flood Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Please Include Cumulative Claims and Losses as of date of reported date Claim/Loss Location 5 Digit ZIP Code (Use 99999 for claims with unknown location) County Town Date of Loss (MM/DD/YYY) Number of Claims Reported Number of Claims Closed With Payment Number of Claims Closed Without Payment Average Number of Days to Close Claims Total Dollar Amount Paid Loss (tip: paid loss should never be higher than case incurred.) Total Dollar Amount Case Incurred Loss (tip: case incurred should equal paid loss plus reserves for outstanding claims.) Number of Total Loss Claims Number of Open Claims Crop Please Include Cumulative Claims and Losses as of date of reported date