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BULLETIN 350

Statistical Reports Required of Insurers Using the

2001 CSO Preferred Class Structure Table

 

The purpose of this Bulletin is to notify insurers of the Superintendent’s decision to waive the mortality experience reporting requirements for year 2007 for all insurers using the 2001 CSO Preferred Class Structure Table.

Article VII, § 4(C) of Rule 340, “Mortality Tables for Use in Determining Minimum Reserves and Nonforfeiture Benefits,” requires every authorized insurer using the 2001 CSO Preferred Class Structure Table to file annual statistical reports with the Superintendent, the NAIC, or with a statistical agent acceptable to the Superintendent, showing mortality and such other information as the Superintendent may deem necessary or expedient for the administration of the rule.

Section 4(C) also gives the Superintendent the discretion to exempt any company from the reporting requirement. For reporting year 2007, because preparations for a national reporting mechanism are still in progress, the Superintendent exempts all companies using the 2001 CSO Preferred Class Structure Table from filing the statistical reports required by Rule 340, Article VII, § 4(C).

 

August 27, 2008 ______________________________________
Mila Kofman
Superintendent of Insurance

 

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.

 

Last Updated: September 27, 2010