Annual Statement Notice
Annual Statement 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 2024 Annual Statement with the Commonwealth of Massachusetts, Division of Insurance. Unless otherwise indicated, all filings must comply with 2024 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 2024 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 FEE & RENEWAL INFORMATION
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.
As Massachusetts now allows the use of OPTins to pay your company renewal and filing fees, we ask that you do not mail any checks to the Massachusetts Division of Insurance or make any lockbox payments to the Massachusetts Division of Insurance for company renewal and filing fees.
All Payments are to be sent to https://content.naic.org/industry/optins
All renewal documents are to be emailed to Companies.Mailbox@mass.gov. 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. 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, 2025 should email their request to Amy Blue at the ANNUAL STATEMENT EMAIL ADDRESS (see above).
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.
Company Renewal and Filing Fees
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
HMOs - Filing Checklists & Instructions
Health Entities - Filing Checklists & Instructions
Life Accident and Health Insurers - Filing Checklists & Instructions
Property and Casualty Insurers - Filing Checklists & Instructions
Risk Retention Groups - Filing Checklists & Instructions
Risk Retention Groups
RRGs are governed by their state of domicile and are generally required to file with Massachusetts whatever documents are required by their state of domicile. In addition RRGs are required to file NAIC Biographical Affidavits with the Commonwealth of Massachusetts, a revised Massachusetts Checklist, and any other additional information required by the Commonwealth of Massachusetts. However, if the RRG files its annual statement with the NAIC it is only required to submit a signed Jurat Page on or before March 1 (or later date if granted an extension by its state of domicile).
RRGs are not required to file quarterly statements with the Commonwealth of Massachusetts, Division of Insurance.
The following Renewal Application documents will be mailed to each RRG in the summer of each year.
Risk Retention Group Annual Registration Application Form
Supplement to the NAIC Uniform Group Registration Form for Registration as a Risk Retention Group
Risk Retention Group - Notice and Registration
For additional information e-mail Matthew Mancini at the Massachusetts Division of Insurance at Matthew.Mancini@mass.gov.
Self Insurance Groups - Filing Checklists & Instructions
2024 Annual SIG Statement Notice
For information please e-mail Brian Knowlton at the Massachusetts Division of Insurance at Brian.Knowlton@mass.gov
Surplus Lines Companies - Filing Checklists & Instructions
Title Companies - Filing Checklists & Instructions
Fraternal Benefit Societies regulated under M.G.L. Chapter 176P
Corporate Governance Annual Disclosure Form
Statement Filing Notice from James McCarthy - December 30, 2024
176P - Voluntary Dissolution Procedure
Section 45 Society -- 2024 Annual Financial Statement Blank.pdf
Section 45 Society -- 2024 Annual Financial Statement Blank.xls
Section 46 Society -- 2024 Annual Financial Statement Blank.pdf
Section 46 Society -- 2024 Annual Financial Statement Blank.doc
Section 45 Society - 2023 Annual Statement - Blank.pdf
Section 45 Society - 2023 Annual Statement - Blank.xlsx