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Insurance Division

Oregon Insurance Division Bulletin INS 2006-5

DATE: December 6, 2006

TO: All Insurers And Licensees

RE: General Filing Instructions for Filing Policy Forms & Rates

Insurance Division Bulletin 2002-4 is withdrawn effective upon issuance of this bulletin.

Oregon Revised Statute 742.003(1) requires the prior approval of all forms delivered or issued for delivery in this state, except as otherwise provided by law. Requirements for rates are found in ORS Chapters 737, 742, and 743. The Insurance Division has posted filing requirements to help it efficiently handle and track filings. An insurer who makes a filing through SERFF must include the requirements posted on the SERFF system. An insurer who makes a filing by any other method must include the requirements posted on our Web site. To access the requirements, go to http://www.oregoninsurance.org, navigate to Insurance Companies, and select Rates and Forms from that Web page.

As documents are updated on our Web site, they are formatted to coordinate with the NAIC checklist format and categories and updated on our SERFF site. They are posted in pdf and fill-in Word format.

The Division sends electronic notification when making changes to the checklists. You may sign up for email notification by following the instructions on our Web site. There is no charge for this service and no restriction on the number of email recipients within an organization.

Submission documents:

Each filing component listed on the Web site and on the SERFF site for the product being filed must be completed and included in the filing before it is considered a complete filing. Submit two complete sets of the filing. The following filing requirements are components generally required; other components may be required depending on the product type. Any form references throughout the filing submission must match EXACTLY with the documents being filed for review and approval

  1. Current NAIC Uniform Transmittal Document Forms Filing Attachment and Rate Filing Attachment (showing new and/or replaced form numbers EXACTLY as they appear on the attached documents). (This requirement is for non-SERFF filings only)
  2. Cover letter (optional if transmittal form contains a detailed filing description)
  3. Signed Certificate of Compliance
  4. Product standards checklists for each of the product type(s) being filed*
  5. Readability certification (for life and health form filings)
  6. Actuarial memorandum as appropriate for the product
  7. Forms, Statement of Variability, rates, and/or rules to be reviewed

*Depending on the forms being filed, there may be more than one product-standard checklist required, such as for applications, riders, advertisements, accelerated death benefits, etc. Each product-standard checklist includes specific instructions for completing the form.

General instructions and procedures:

  1. Companies filing new or innovative products must include a marketing plan.
  2. All non-SERFF submissions must include two complete sets of the filing and two self-addressed, stamped return envelopes, one or more large enough for return of the approved filing to the company. Final paper copies are required for approval and may be sent by mail. Email or fax submissions are accepted if they are fewer than 15 pages, unless otherwise instructed. The Division cannot accept emails over 4 MB in size or .zip files.
  3. When filings are submitted for prior approval under ORS Chapters 737, 742, 743, and 748 and do not include all the requirements listed on our Web site, they will be returned without review as incomplete filings under ORS 742.003 and OAR 836-010-0011.
  4. Requests from the Insurance Division for information pursuant to ORS 731.296 on pending filings provide for a 10-day response time unless otherwise noted on the request. Failure by a filer to respond within the allowed time will result in the filing being disapproved as incomplete. Changes to forms need to be highlighted or annotated in one copy of the revised forms.
  5. The final copy of your filing will be returned to the company and becomes the official record to be retained by the company for five years or as long as the forms are active, whichever is longer. A copy of the filing is retained in the Insurance Division for 30 days after completion. After the 30 days, a complete copy of the filing must be resubmitted for further amendments. Various statutes require the Insurance Division to keep copies of certain filings for more than 30 days. These requirements apply to filings by rating bureaus and advisory organizations, workers' compensation filings, and those required by federal law.
  6. Notify the Insurance Division if approved forms and rates will no longer be marketed. Withdrawal from certain lines, or discontinuance of certain products, requires prior approval from the Director (e.g. OAR 836-085-0001 thru -0045). Please use the Changes to Business Operations checklist (440-3637), or the Modification and Discontinuance checklist (440-2896) located on our Web site. Notification may be in a replacement filing, separate notification in writing, or through our email address: dcbs.ratesforms@state.or.us.
  7. When revising, replacing, or submitting revisions of an approved form, follow the requirement in OAR 836-010-0011(4) by highlighting or otherwise calling attention to the changes made in the new form(s) and include an explanation. If not replacing the prior form, explain the need for both forms. Versions of approved forms issued within the variables approved in the filing do not need to be refiled. When we ask for a copy of a previously approved form, if that form was perforated when it was approved, please send a copy of the perforated form.
  8. When submitting a Property and Casualty form filing that includes more than one company, all forms listed on the FORMS FILING SCHEDULE (FFS-1) must apply to every one of the companies named on the filing and cover letter. If any of the forms will not be used by every company named in the group filing, then separate form filings must be made for each company adopting different forms.

A form filing submission not meeting the above criteria will be rejected without review.

About our Web site: www.oregoninsurance.org

Filing requirements for each product type are listed under the link to Filing Requirements. Find the line of insurance first, and then locate the product type to be filed.

Other links with useful information for making a filing:

  1. Listing of current filing forms as of the last date revised. Filing forms by form number; includes the date of latest revision so insurers can verify that they have the most current version.
  2. Life and health policy filing guidelines. These guidelines apply to life, annuities, and health products. It tells how to put together policies with a number of options and alternatives.
  3. Approval requirements for rate and form filings. A quick reference chart that shows you the type of filing required: prior approval, file and use, or not filed.
  4. New developments. Legislative changes, national issues, possible filing changes, etc.
  5. Organization and formatting - Application of ORS 742.005(2). Organizing forms to achieve clarity.
  6. Speed to Market - http://www.naic.org/industry_home.htm

Options for filing:

  • By mail. Filing by mail requires that you submit two sets of each requirement posted on our Web site for the type of filing you are making. Filings are to be mailed to: Oregon Insurance Division - 5, P.O. Box 14480, Salem OR 97309-0405. Street address for express mail is: Oregon Insurance Division - 5, 350 Winter St. NE, Room 440, Salem, Oregon 97301-3883.
  • By email. You may submit your cover letter in an email and attach the requirements listed on our Web site. Email filings are restricted to a filing size of 15 pages or less, unless otherwise instructed by Division staff.
  • Disk. Include all of the filing requirements listed on our Web site or submit a combination of paper and disk. For example, the actuarial memorandum may be on disk and the required standards and forms in paper form. Submit one original and one copy of each paper document. Disk filings are restricted to a filing size of 15 pages or less on the disk, unless otherwise instructed by Division staff.
  • SERFF. Insurers and filing firms will find general instructions and filing requirements identified in the SERFF system. Be sure to attach all the required components to prevent an incomplete filing. Please remember that all written communication regarding SERFF filings must occur within the SERFF system.

Responses for non-SERFF filings may be mailed, emailed or FAXed if fewer than 15 pages, unless otherwise instructed.

This bulletin takes effect immediately.

This bulletin is dated the 6th day of December 2006 at Salem, Oregon.

______________(Signed)________________
Joel Ario, Oregon Insurance Administrator