Annual Statement Notice

Notice

Adobe Acrobat Reader is required to view some of the documents on the Annual Statement Notice. A free copy of the Reader may be downloaded from the Adobe website.   Please be advised that there have been changes to these instructions from the prior year. Read this notice and all referenced instructions, checklists and notes carefully before proceeding with the filing.

This notice contains instructions for filing the 2019 Annual Statement with the Commonwealth of Massachusetts, Division of Insurance.  Unless otherwise indicated, all filings must comply with 2019 NAIC Annual Statement Instructions for your type of company, including any required quarterly filings; and the NAIC’s Accounting Practices and Procedures Manual.

For any questions or information regarding filing with the NAIC, the 2018 NAIC Annual Statement Instructions, or the NAIC's Accounting Practices and Procedures Manual, please refer to the NAIC website.

The required checklist for each company type specifies the filing dates for all required filings with the Commonwealth of Massachusetts.  All schedules must be securely attached to the appropriate pages or bound separately.

All required Annual Statements must be subscribed and sworn before a notary by at least two principal officers of the company.

Company Renewal and Filing Fees LICENSE RENEWAL & FILING FEE PAYMENT MAILING ADDRESS

Checks are to be made payable to the Commonwealth of Massachusetts Division of Insurance and mailed with a completed Lock Box and License Application Renewal Form  (if applicable) to:

Division of Insurance Annual Filing Fee / Company License Renewal P.O. Box 370039 Boston, MA 02241-0739

ANNUAL STATEMENT MAILING ADDRESS

Commonwealth of Massachusetts Division of Insurance Company Licensing Section 1000 Washington St, Suite 810 Boston, MA 02118-6200 This address is to be used for mailing all items except payments, lock box forms, and license renewal applications.

PENALTY

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.

REINSURANCE CREDIT

Credit for reinsurance must be recorded in accordance with the provisions of M.G.L. Chapter 175, Section 20A. For a list of Licensed and/or Approved Companies in Adobe click here  , for Microsoft Excel click here  .

CERTIFICATES OF COMPLIANCE

Domestic Insurance Companies that would like to request Certificates of Compliance   to be effective January 1, 2020 should mail their request to Amy Blue at the Annual Statement Mailing Address.

WORKERS' COMPENSATION SCHEDULE C-1 and WORKERS' COMPENSATION DEPOSITS

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.