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This notice contains instructions for filing the 2017 Annual Statement with the Commonwealth of Massachusetts, Division of Insurance. Unless otherwise indicated, all filings must comply with 2017 NAIC Annual Statement Instructions for your type of company, including any required quarterly filings; and the NAIC’s Accounting Practices and Procedures Manual.
Company Renewal and Filing Fees
Commonwealth of Massachusetts
Division of Insurance
Company Licensing Section
1000 Washington St, Suite 810
Boston, MA 02118-6200
M.G.L. Chapter 175, Section 26, provides for a penalty of $100 per day if the Annual Statement, and all other related filings, are not received in the proper form and by the date required. In addition, any company that neglects to file in the proper form, and by the date required, may be required to cease writing new business as long as the filing deficiency continues.
Domestic Insurance Companies that would like to request Certificates of Compliance to be effective January 1, 2018 should mail their request to Amy Blue at the Annual Statement Mailing Address.
All foreign insurers authorized for Workers' Compensation in Massachusetts that have an AM Best rating of "A-" or higher are not required to file a Workers' Compensation Schedule C-1 and are not required to maintain a Workers' Compensation deposit in accordance with the calculation in the Workers' Compensation Schedule C-1. The required Workers' Compensation deposit for these companies is $50,000.00.
All foreign insurers authorized for Workers' Compensation in Massachusetts that have an AM Best rating of "B++"or lower are required to file a Workers' Compensation Schedule C-1 and are required to maintain a Workers' Compensation deposit in accordance with the calculations in the Workers' Compensation Schedule C-1.