Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

Inland Business Forms - DOC by fwq23989

VIEWS: 21 PAGES: 9

Inland Business Forms document sample

More Info
									            LINE OF BUSINESS:          Inland Marine                                      LINE(S) OF INSURANCE                   CODES
                                                                                      Other Commercial Inland Marine              9.0005
                                                                                              Personal Inland Marine              9.0006
                           Code:           9.0000


IF CHECKLIST IS NOT APPLICABLE, PLEASE EXPLAIN:




   REVIEW REQUIREMENTS                REFERENCE                      DESCRIPTION OF REVIEW                                   LOCATION OF
                                                                    STANDARDS REQUIREMENTS                                   STANDARD IN
                                                                                                                                FILING
    GENERAL REQUIREMENTS
       FOR ALL FILINGS

COPIES, RETURN ENVELOPES ETC.

COVER LETTER AND EXPLANATORY
MEMORANDUM

                                   K.S.A. 40-216       Requires that all contracts of insurance or indemnity be filed with
                                                       Commissioner of Insurance.
                                   K.A.R. 40-3-32      Exceptions listed in K.A.R. 40-3-32.
                                   K.A.R. 40-1-15      This regulation provides that a policy form shall not contain the
                                                       name of an insurance company that is “unauthorized” to transact
                                                       business in Kansas. May use an endorsement to “delete” an
                                                       unauthorized company. We have interpreted “unauthorized” to
                                                       mean not licensed or does not have program in question filed.
                                   K.A.R. 40-1-16      Addresses advertising.
                                   K.A.R. 40-1-17      Addresses return of unearned premium.
FILING SUBMISSION                  K.A.R. 40-1-19      Addresses combination policies.

EFFECTIVE DATE WORDING

FREE CONTRACT PROHIBITED

LIMITATIONS/RESTRICTIONS ON
TRANSACTING BUSINESS


                                                                     1
   REVIEW REQUIREMENTS              REFERENCE                        DESCRIPTION OF REVIEW                                  LOCATION OF
                                                                    STANDARDS REQUIREMENTS                                  STANDARD IN
                                                                                                                               FILING

NAIC #

LINE OF AUTHORITY

NO FILE OR FILING EXEMPTIONS

SIDE BY SIDE COMPARISON

    GENERAL REQUIREMENTS
       FOR ALL FILINGS

WATERCRAFT LONGER THAN 26 FEET

THIRD PARTY FILERS AUTHORITY

TRANSACTING OTHER BUSINESS

         FORMSPOLICY
           PROVISIONS

ACCESS TO COURTS

                                 K.S.A. 40-2404(1a)    This statute provision prohibits policy provisions that
                                                       misrepresent the benefits, advantages, conditions or terms of
AMBIGUOUS & MISLEADING                                 any insurance policy.

                                 K.A.R. 40-3-23        Requires that binder forms be filed.
                                 K.A.R. 40-3-25        Declination statement must appear on the application if written as
APPLICATIONS                                           non-standard business.

                                 Bulletin No. 2004-1   Establishes standards for policy language for
APPRAISALS                                             appraisal/arbitration clauses.

                                 Bulletin No. 2004-1   Establishes standards for policy language for
ARBITRATION                                            appraisal/arbitration clauses.

ASSESSIBLE POLICIES

                                                                    2
    REVIEW REQUIREMENTS                     REFERENCE                    DESCRIPTION OF REVIEW                                  LOCATION OF
                                                                        STANDARDS REQUIREMENTS                                  STANDARD IN
                                                                                                                                   FILING

BANKRUPTCY PROVISIONS

                                         Bulletin 1998-13   Insurers must comply with the filing requirements of K.A.R. 40-1-
                                                            32 and K.A.R. 40-1-39. “Blank”, “Change” or “Manuscript”
                                                            endorsements must be submitted for approval pursuant to K.S.A.
BLANK ENDORSEMENTS                                          40-216 unless exempted by K.A.R.40-3-32.

                                         K.S.A. 40-2,120    (Applies to Commercial) Grounds for cancellation requirement.
                                         K.S.A. 40-2,121    (Applies to Commercial) Notice not to renew requirement.
                                         K.A.R. 40-3-15     (Applies to Personal) Requirements applicable to cancellation
CANCELLATION & NON-RENEWAL                                  and/or non-renewal provision of policy forms.
Calculation of Unearned/Return Premium
Conditional Renewal
Minimum Retained Premium
                                         K.A.R. 40-3-15     Requirements applicable to cancellation and/or non-renewal
Notice of Cancellation                                      provision of policy forms.
Notice of Non-renewal                    K.S.A. 40-2,121    Notice not to renew requirement.
Permissible Reasons for Cancellation     K.S.A. 40-2,120    Grounds for cancellation requirement.
Permissible Reasons for Non-renewal      K.S.A. 40-2,121    Notice not to renew requirement.
           FORMSPOLICY
              PROVISIONS
Required Policy Period
Suspension

CERTIFICATIONS

CONINSURANCE

CONSUMER INFORMATION
Credit Scoring Notice
Privacy notice
VSI Warning
Notification Form




                                                                         3
   REVIEW REQUIREMENTS        REFERENCE                         DESCRIPTION OF REVIEW                                       LOCATION OF
                                                               STANDARDS REQUIREMENTS                                       STANDARD IN
                                                                                                                               FILING
                           K.S.A. 40-216         Requires that all contracts of insurance or indemnity be filed with
                                                 Commissioner of Insurance.

                           K.A.R. 40-3-32        Exceptions listed in K.A.R. 40-3-32.

                           K.A.R. 40-1-15        This regulation provides that a policy form shall not contain the
                                                 name of an insurance company that is “unauthorized” to transact
                                                 business in Kansas. May use an endorsement to “delete” an
                                                 unauthorized company. We have interpreted “unauthorized” to
                                                 mean not licensed or does not have program in question filed.

                           K.A.R. 40-1-16        Addresses advertising.

                           K.A.R. 40-1-17        Addresses return of unearned premium.

                           K.A.R. 40-1-19        Addresses combination policies.

                           General information   If a filing is identical for all companies in a group, it is permissible
                                                 for the group to submit one file copy for all companies.

                           Bulletin 1983-19      This bulletin is to advise of a Kansas Supreme Court case which
                                                 significantly affects claim settlements based upon the use of
                                                 “actual cash value” in fire and casualty policies written in this
CONTENT OF POLICIES                              state.

COUNTERSIGNATURES

                           K.A.R. 40-3-5         This regulation requires the filing of declaration pages, unless the
                                                 company is a member of a rating organization and the rating
DECLARATIONS PAGE                                organization has the authority to file on its behalf.

DISCLOSURES

DEFINITIONS

DISCRIMINATION

DUTY TO DEFEND

EXCLUSIONS & LIMITATIONS

                                                                4
    REVIEW REQUIREMENTS                   REFERENCE                        DESCRIPTION OF REVIEW                                   LOCATION OF
                                                                          STANDARDS REQUIREMENTS                                   STANDARD IN
                                                                                                                                      FILING
Mold
Terrorism

                                       K.A.R. 40-3-6         This regulation prohibits offering a preferred rate, coverage, or
FICTITIOUS GROUPS                                            premium based on any fictitious group.

FORMS MISCELLANEOUS
        FORMSPOLICY
          PROVISIONS

                                       K.S.A. 40-2,118       This statue defines “fraudulent insurance act” and sets forth
                                                             penalties for the insured. This statute provides the only condition
FRAUD WARNING                                                under which an insurance company may void a policy.

GROUP POLICIES
Extra-Territorial Approval Authority

INSURANCE TO VALUE                     K.S.A. 40-905         Value policy law.

LIBERALIZATION CLAUSE

LIMITS

LOSS PAYEE

LOSS SETTLEMENTS
                                       Bulletin No. 2004-1   Establishes standards for policy language for
Appraisal                                                    appraisal/arbitration clauses.
Action Against Company
After Market Parts
                                       Bulletin No. 2004-1   Establishes standards for policy language for
Arbitration                                                  appraisal/arbitration clauses.
Deductibles
Defense Costs
Loss Valuation

NOTICE REQUIREMENTS


                                                                           5
       REVIEW REQUIREMENTS         REFERENCE                        DESCRIPTION OF REVIEW                                LOCATION OF
                                                                   STANDARDS REQUIREMENTS                                STANDARD IN
                                                                                                                            FILING
Payment of Loss Time Period
                                Bulletin No. 2004-1   Establishes standards for policy language for
Appraisal                                             appraisal/arbitration clauses.

MEDICAL PAYMENTS

MINIMUM STANDARDS FOR CONTENT
(POLICIES AND STANDARD FORMS)

ORDINANCE/LAW PROVISIONS

            FORMSPOLICY
              PROVISIONS

POLICY MUST CONTAIN ENTIRE
CONTRACT

PRIMARY/UNDERLYING COVERAGE

READABILITY

REBATES

STANDARD FIRE POLICY

SUBROGATION                     K.A.R. 40-1-20        Subrogation clause prohibited for certain coverage.
                                K.S.A. 60-511         Establishes the statute of limitation for bringing suit under an
Suit                                                  insurance policy.

TIMELINESS

TRAVEL
Baggage
Trip Cancellation




                                                                    6
   REVIEW REQUIREMENTS              REFERENCE                      DESCRIPTION OF REVIEW                                LOCATION OF
                                                                  STANDARDS REQUIREMENTS                                STANDARD IN
                                                                                                                           FILING
                                 K.S.A. 40-2,118     This statute provides a definition of a fraudulent insurance act
                                                     and the only condition under which an insurance company may
                                                     void a policy. As such, we will not approve or allow a fraud
VOIDANCE                                             condition that is broader than the definition in this statute.

                                 K.A.R. 40-3-16      Fire and Casualty insurance policies and applications;
WARRANTIES                                           “warranties” prohibited.

OTHER

    RATE, RULE, RATING PLAN,
 CLASSIFICATION, AND TERRITORY
     FILING REQUIREMENTS

INDIVIDUAL RISK RATING

ACTUARIAL CERTIFICATIONS FOR
RATES
    RATE, RULE, RATING PLAN,
 CLASSIFICATION, AND TERRITORY
      FILING REQUIREMENTS

ADOPTIONS OF RATE SERVICE        K.S.A. 40-956       Applies to Personal Inland Marine only: General provisions
ORGANIZATIONS (RSO) FILINGS                          relating to Fire Insurance Companies.
Loss Costs

                                 K.S.A. 40-954 and   Applies to Personal Inland Marine only: This statute and
                                 K.A.R. 40-3-26      regulation provide the procedure for rates that are modified for
CONSENT-TO-RATE                                      individual risks.

CREDIT SCORING AND REPORTS

CREDIBILITY

DEFENSE COSTS

                                 K.S.A. 40-953 and   Applies to Personal Inland Marine only: Discounts must be
                                 K.S.A. 40-954       supported and justified with premium, loss or expense data and
DISCOUNTS                                            meet public policy concerns.

                                                                   7
    REVIEW REQUIREMENTS                   REFERENCE                    DESCRIPTION OF REVIEW                                  LOCATION OF
                                                                      STANDARDS REQUIREMENTS                                  STANDARD IN
                                                                                                                                 FILING

EXPIRATION DATE(S) FOR APPROVED
RATES

GROUP POLICIES
Extra-Territorial Approval Authority

LOSS RATIO STANDARDS

MID TERM CHANGES

                                       K.A.R. 40-3-47    Applies to Personal Inland Marine only: This regulation
                                                         establishes the procedures to make and file loss cost filings with
LOSS COST MULTIPLIERS                                    this agency.

                                       K.S.A. 40-2,112   Any unearned premium must be sent to the consumer with the
PREMIUM REFUND OR RETENTION                              cancellation notice.

PRICING
Charges
Minimum Premium Rules
Multi-tier
                                       K.S.A. 40-955     This statute requires that payment plans be on file with this
Payment Plans                                            agency.
      RATE, RULE, RATING PLAN,
 CLASSIFICATION, AND TERRITORY
        FILING REQUIREMENTS
Premiums
Service Charges
Surcharges
Other Fees

                                       K.S.A. 40-953     This applies to Personal Inland Marine only: We consider rate
                                                         ranges to be unfairly discriminatory, unless there are mutually
RATE RANGES                                              exclusive criteria for each factor in the range.

RATING PLAN REQUIREMENTS
Expense Modification Plan

                                                                       8
    REVIEW REQUIREMENTS            REFERENCE                  DESCRIPTION OF REVIEW                                 LOCATION OF
                                                             STANDARDS REQUIREMENTS                                 STANDARD IN
                                                                                                                       FILING
Experience Rating
Large Deductible
Retrospective Rating
Schedule Rating
Small Deductible
Wrap-up Rating

RATE/LOSS COST SUPPORTING
INFORMATION
Competition
                                K.S.A. 40-954   This applies to Personal Inland Marine only: The company
                                                must provide expense data to support and justify. This applies to
Expenses                                        all rate and loss cost filings.
Experience

Judgment
Credibility and other factors
Profit Loading

RETURN ON EQUITY/INVESTMENT
INCOME

SUPPORTING DATA

TRENDING

OTHER




                                                             9

								
To top