July 17, 1972
The NAIC early this year contracted with an independent statistical organization, the A. M. Best Company, Inc., to provide statistical information relative to insurance companies.
It has now been deemed pertinent and necessary by the Insurance Commissioner that all Maine licensed domestic insurers writing the product lines of property and casualty, file with the A. M. Best Company, Inc., Park Avenue, Morristown, New Jersey 07960, certain financial information to assist them in this project. All companies will be required to file a copy of their annual statement for the year next preceding the filing of the statement with the Insurance Department. They will also be required to file an insurance expense exhibit and a separate page 14 of the casualty blank for each state in which the company conducts the business of insurance.
The purpose of this data, when collated and tabulated, will be a report form for each Commissioner in the jurisdictions licensing the company to use in evaluating the insurers' financial stability.
Your cooperation is requested and it is hoped that your company will file the necessary material as soon as practicable. Any further questions may be answered by contacting Mr. John Hanson, Executive Secretary, Director of Research of the NAIC at 633 W. Wisconsin Avenue, Suite 1815, Milwaukee, Wisconsin 53203 or by contacting this office.
Frank M. Hogerty, Jr.
NOTE: This bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties or privileges nor is it intended to provide legal advice. Readers are encouraged to consult applicable statutes and regulations and to contact the Bureau of Insurance if additional information is needed.
Return to Bulletins by Number
Go to Bulletins by Category