Texas Register, Volume 21, Number 80, Pages 10639-10789, October 29, 1996 Page: 10,657
10639-10789 p. ; 28 cm.View a full description of this periodical.
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(A) Officers and Directors Information (association
edition) (required of companies upon their initial filing with the NAIC
and to report any changes in previously filed information), to be filed
on or before March 1, 1997 (stipulated premium insurance companies,
April 1, 1997);
(B) Credit Insurance Experience Exhibit (association
edition) (required of companies writing credit business), 9 inch x 14
inch size, to be filed on or before April 1, 1997;
(C) Long-Term Care Insurance Exhibit (association
edition) (required of companies writing long-term care business),
either the 12 inch x 19 inch size, 11 inch x 17 inch size, or 9 inch x 14
inch size, to be filed on or before March 1, 1997 (stipulated premium
insurance companies, April 1, 1997), in addition to the Long-Term
Care Experience Reporting Forms included in the annual statement
required by paragraph (1) (A) of this subsection;
(D) Interest Sensitive Life Insurance Products Report
(association edition) (required of companies writing interest sensitive
products), either the 12 inch x 19 inch size, 11 inch x 17 inch size, or
9 inch x 14 inch size, to be filed on or before April 1, 1997 (stipulated
premium insurance companies, May 1, 1997);
(E) machine-readable diskettes containing computer-
ized annual statement data (required of companies filing annual state-
ment Form 1), to be filed on or before March 1, 1997 (stipulated
premium insurance companies, April 1, 1997);
(F) machine-readable diskettes containing computer-
ized quarterly statement data (required of companies filing annual
statement Form 1), to be filed on or before May 15, August 15, and
November 15, 1997. However, a Texas stipulated premium insurance
company, unless specifically requested to do so by the department,
is not required to file diskettes with the NAIC if it meets all three of
the following conditions:
(i) it is authorized to write only life insurance on
its certificate of authority;
(i) it collected premiums in the prior calendar year
of less than $1 million; and
(iii) it had a profit from operations in the prior two
calendar years; and
(4) The following provisions shall apply to the filings
required in paragraphs (1)-(3) of this subsection.
(A) Texas domestic life, accident and health compa-
nies with more than $30 million in direct premiums in 1996 must es-
tablish Asset Valuation Reserves and Interest Maintenance Reserves
in their financial statements in accordance with the instructions in the
1996 NAIC Annual Statement Instructions, Life, Accident and Health
Companies. Texas domestic companies with $30 million or less in
direct premiums may establish Asset Valuation Reserves and Inter-
est Maintenance Reserves in their financial statements in accordance
with the instructions in the 1996 NAIC Annual Statement Instruc-
tions, Life, Accident and Health Companies or they must value bonds
and preferred stocks in compliance with the provisions of 7.16 of
this title (relating to NAIC Purposes and Procedures of the Securities
Valuation Office Manual) concerning companies not maintaining an
Asset Valuation Reserve or Interest Maintenance Reserve.
(B) The statement of actuarial opinion should follow
the guidelines and standards for statements of actuarial opinionprescribed by regulation authorized by Section 3, Actuarial opinion
of Reserves of the Standard Valuation Law as amended by the NAIC
in December 1990, unless exempted. For those companies exempted
from such regulation, instructions 1-12, established by the NAIC,
must be applied.
(C) In the event of a conflict between the Insurance
Code, any currently existing departmental rule, form, or instruction,
or any specific requirement of this subsection and the NAIC manuals
listed in this subsection, then and in that event, the Insurance
Code, the department's promulgated rule, form, or instruction, or
the specific requirement of this subsection shall take precedence and
in all respects control. It is the express intent of this subsection that
it shall not repeal or otherwise modify or amend any department rule
or the Insurance Code.
(d) Requirements for property and casualty insurers. Each
fire, fire and marine, general casualty, fire and casualty, county
mutual insurance company, mutual insurance company other than
life, Lloyd's plan, reciprocal or inter-insurance exchange, domestic
risk retention group, life insurance company that is licensed to write
workers' compensation, any farm mutual insurance company that
filed a Form 2 for the 1995 calendar year or had with gross written
premiums in 1996 as of December 31, 1996 in excess of $5,000,000,
any Mexican non-life insurer licensed under any article of the
Insurance Code other than or in addition to Insurance Code, Article
8.24, and domestic joint underwriting associations shall complete and
file the following blanks, forms, and diskettes for the 1996 calendar
year and the first three quarters of the 1997 calendar year. The forms,
reports, and diskettes identified in paragraphs (1) (A)-(H); (2) (A),(B);
and (3) (A)-(D) of this subsection shall be completed in accordance
with the current NAIC Annual Statement Instructions, Property and
Casualty, except as provided by paragraph (4) of this subsection. The
diskettes identified in paragraph (3) (E) and (F) of this subsection shall
be completed in accordance with the current NAIC Annual Statement
Diskette Filing Specifications-Property/Casualty, except as provided
by paragraph (4) of this subsection.
(1) Reports to be filed both with the department and the
NAIC:
(A) Annual Statement (association edition, Form 2,
with a yellow colored cover made of minimum 651b. paper), either
the 12 inch x 19 inch size, 11 inch x 17 inch size, or 9 inch x 14
inch size, to be filed on or before March 1, 1997;
(B) Trusteed Surplus Statement (association edition,
Property and Casualty Supplement) (required of the U. S. branch
of an alien insurer), 9 inch x 14 inch size to be filed on or before
March 1, May 15, August 15, and November 15, 1997;
(C) Management's Discussion and Analysis (a narra-
tive document setting forth information which enables regulators to
enhance their understanding of the insurer's financial position, results
of operations, changes in capital and surplus accounts and cash flow),
to be filed on or before April 1, 1997;
(D) Financial Guaranty Insurance Exhibit (association
edition) (required of companies writing financial guaranty business),
either the 12 inch x 19 inch size, 11 inch x 17 inch size, or 9 inch x
14 inch size, to be filed on or before March 1, 1997;
(E) Supplement "A" to Schedule T, Exhibit of Medical
Malpractice Premiums Written (association edition) (required of
companies writing medical malpractice business), either the 12 inchPROPOSED RULES October 29, 1996 21 TexReg 10657
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Texas. Secretary of State. Texas Register, Volume 21, Number 80, Pages 10639-10789, October 29, 1996, periodical, October 29, 1996; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth182324/m1/19/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.