|TO:||Licensees, Insurers and Interested Parties|
|FROM:||Linda Ruthardt, Commissioner of Insurance|
|DATE:||February 12, 2001|
|RE:||Forms Submitted For Approval, Pursuant to Chapter 175, Section 2B|
As part of the Division of Insurance's ("Division") efforts to improve its ability to timely and efficiently review insurance policy and other related forms submitted for approval, the Division has created a series of checklists for a variety of life, annuity, long term care and health products. Each checklist delineates the product requirements and prohibitions of applicable Massachusetts statutes and regulations.
Mandatory Use of Checklists
Any submission that is not accompanied by the applicable, completed checklist and such certification of compliance will be rejected as incomplete and returned to the insurer. Checklists for similar use in connection with forms respecting other kinds of insurance, e.g., property and casualty lines subject to prior approval, will be forthcoming in due course.
By this Bulletin, the Division also gives notice that it does not review for prior approval forms constituting or relating to funding agreements. The Commissioner has no authority under Massachusetts statutes to do so.