Annual Statement Notice and Foreign License Renewal Process

For any questions regarding filings, The Company Licensing Department can be contacted at:

Foreign Companies: [e-mail]

Domestic Companies: [e-mail]

Annual Statement Notice

Please note, 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.

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

Please be advised that these instructions may change from year to year.  Read this notice and all referenced instructions, checklists and notes carefully before proceeding with the filing.

For any questions or information regarding filing with the NAIC, the 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.

License Fee & Renewal Information: 

Company Renewal and Filing Fees 

The Massachusetts Division of Insurance has implemented OPTins, a product of the NAIC, for insurers filing and paying of Massachusetts company renewal and filing fees.

Checks or lockbox payments for company renewal and filing fees are no longer accepted.

All Payments are to be sent to NAIC Optins .

All foreign company renewal documents are to be emailed to [e-mail]. This address is to be used for all regulatory filings except payments.

Penalty:

M.G.L. Chapter 175, Section 26, provides for a penalty of $100 per day if the Annual Statement, or any 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. List of Licensed and/or Approved Companies in Excel .

Certificates Of Compliance:

Domestic Insurance Companies that would like to request Certificates of Compliance to be effective January 1 should email their request to Amy Blue at [e-mail].

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 calculation in the Workers’ Compensation Schedule C-1.

Accredited Reinsurers - Filing Checklists & Instructions

• Filings Checklist - Property and Casualty Insurers 
• Filings Checklist - Life, Accident, Health and Fraternal Insurers
• Filings Checklist Notes
• Form AR-1: Certificate of Assuming Insurer
• Application for Renewal of Foreign Company License to Transact Insurance Business in Massachusetts
• Holding Company Registration Statement Affidavit

Fraternal Companies - Filing Checklists & Instructions

• Filings Checklist - Fraternal Insurers
• Fraternal License Renewal  

HMOs - Filing Checklists & Instructions

• Filings Checklist - Health Maintenance Organization
• Filings Checklist Notes

Health Entities - Filing Checklists & Instructions

• Filings Checklist - Health Entities
• Filings Checklist Notes
• Holding Company Registration Statement Affidavit

Life Accident and Health Insurers - Filing Checklists & Instructions

• Filings Checklist - Life, Accident and Health Insurers
• Filings Checklist Notes
• Application for Renewal of Foreign Company License to Transact Insurance Business in Massachusetts
• Holding Company Registration Statement Affidavit

Property and Casualty Insurers - Filing Checklists & Instructions

• Filings Checklist - Property Casualty Insurers
• Filings Checklist Notes
• Application for Renewal of Foreign Company License to Transact Insurance Business in Massachusetts
• Form C - 1 (Companies Licensed for Designation 6E-Workers Compensation)
• Holding Company Registration Statement Affidavit

Self Insurance Groups - Filing Checklists & Instructions

2025 Annual SIG Statement Notice

For information please e-mail Nhi Ngu at the Massachusetts Division of Insurance at [e-mail]

Surplus Lines Companies - Filing Checklists & Instructions

• Filings Checklist - Property and Casualty Insurers
• Filings Checklist - Life, Accident and Health Insurers
• Filings Checklist Notes
• Holding Company Registration Statement Affidavit
• Application for Renewal of Foreign Company License to Transact Insurance Business in Massachusetts

Title Companies - Filing Checklists & Instructions

• Title Companies - Filing Checklists and Instructions
• Filings Checklist Notes
• Holding Company Registration Statement Affidavit
• Application for Renewal of Foreign Company License to Transact Insurance Business in Massachusetts

Limited Benefit Societies regulated under M.G.L. Chapter 176P

Limited Benefit Societies must file certain Annual Financial Statements and Corporate Governance Annual Disclosure Statements with the Division of Insurance. 

Annual Financial Statement

Section 38 of Massachusetts General Laws Chapter 176P requires Limited Benefit Societies to file an Annual Financial Statement form. The financial statement should be completed in full with all sections filled in, especially all Parts of Page 1, the Questions on Page 2, and the appropriate Schedules on Page 3 which support the Page 1 entries. The Annual Financial Statement must be filed with the Division on or before March 1 of each year. 

Corporate Governance Annual Disclosure Statement

Massachusetts General Laws Chapter 176W also requires that Limited Benefit Societies file a Corporate Governance Annual Disclosure Statement with the Division of Insurance. The Corporate Governance Annual Disclosure Statement must be completed and returned to the Division by June 1 of each year.  

Involuntary Dissolution

Both Filings are required by law and due at their required due date. Section 36 of Massachusetts General Laws Chapter 176P allows the Commissioner of Insurance to take action toward the involuntary dissolution of Limited Benefit Societies that are late in filing or fail to file their required statements.  This is a lengthy and costly process involving both the Attorney General and the Supreme Judicial Court.

Procedure For Voluntary Dissolution Of A Limited Benefit Society | Mass.gov

Many limited benefit societies have determined they are able to serve their membership and achieve their goals outside of the limited benefit society structure.  The Division has internal procedures for voluntary dissolution of limited benefit societies.  The process is streamlined and cost-efficient and it eliminates the need for proceedings in the Supreme Judicial Court. 

Section 45 Society -- 2025 Annual Financial Statement Blank.xls

Section 46 Society -- 2025 Annual Financial Statement Blank.doc