Current through Register Vol. 39, No. 6, September 16, 2024
Any insurer, as defined by
G.S.
58-1-5(3), that files with
the Commissioner for review or approval product forms of life, annuity,
accident and health, multiple employer welfare arrangements or managed care
provider contract forms and supporting documents, or premium rates, shall
comply with the following:
(1) Include
a cover letter, or the NAIC Adopted Uniform Transmittal Document in lieu
thereof, that:
(a) Includes the name and
address of the submitting company.
(b) States the company issuing the
form.
(c) Includes the toll-free
telephone number and valid electronic e-mail address of the filer.
(d) Provides a unique identifying form number
of each form submitted and its descriptive title.
(e) Indicates whether the form is new or a
form revision.
(f) Identifies, for
any revised forms, the form being replaced by its form number, assigned
tracking number, and approval date.
(2) Submitted either via:
(a) Paper.
(b) Electronic E-Mail compressed in Adobe
Acrobat.
(c) The National
Association of Insurance Commissioners system for electronic rate and form
filings (SERFF).
(3)
Using the following forms and formats:
(a)
Variable text or benefit ranges shall be in brackets.
(b) If applications, riders, endorsements or
certificates are filed separately, the filer shall indicate policy forms with
which they are used.
(c) Rates by
age and mode of payment, including a signed actuarial memorandum, shall be
attached to each form requiring a premium.
(d) Forms shall include a unique form number
located in the lower left-hand corner of the first page.
(e) Filing shall be comprised of one clean
copy of the entire submission.
(f)
Electronic submissions shall be formatted in Portable Document Format Adobe
Acrobat.
(g) Red-line side by side
comparisons shall be provided with initial submissions that are revising
previously-approved forms. An officer of the company shall provide a statement
certifying that no changes, other than those red-lined, were made to the
form(s).
(h) Red-line side by side
comparisons shall be provided with each resubmission of forms revised during
the review process as requested by the Commissioner.
(4) Rates:
(a) Individual or non-group accident and
health products subject to Chapter 58 of the General Statutes shall demonstrate
and describe the development of the requested premium. All 30 of the State's
"Additional Data Requirements" as required in
11 NCAC
16 .0205 shall be addressed.
(b) Credit involuntary unemployment
insurance, credit life, credit accident and health, and credit property
products subject to Article 57 of Chapter 58 of the General Statutes shall
demonstrate and describe the development of the requested premium. All
applicable data elements as required in
11 NCAC
16. 0400 or 16 .0500 shall be
addressed;
(c) Health maintenance
organizations subject to Article 67 of Chapter 58 of the General Statutes shall
demonstrate and describe the development of the requested premium. All data
elements as required in
11 NCAC
16 .0400 and 16 .0600 shall be
addressed;
(d) Service Corporations
subject to Article 65 of Chapter 58 of the General Statutes shall demonstrate
and describe the development of the requested premium adjustment in accordance
with sound actuarial principles and standards.
(5) No form or rate shall be deemed approved
by statute unless the filer provides the Commissioner with written
notice.
(6) Submissions that have
been disapproved and are not brought into compliance within 60 days of initial
receipt shall be closed. File closure shall not prevent revised subsequent
submissions but such will be treated as a new filing.
(7) The Commissioner may reject and
disapprove incomplete submissions.
Authority
G.S.
58-2-40;
58-51-1;
58-51-95;
58-54-20;
58-54-35;
58-55-30;
58-55-31;
58-57-30;
58-58-1;
58-65-1;
58-65-40;
58-67-50;
58-67-150;
Eff. July
1, 2006;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. May 1, 2018.
