reglab/statecodes huggingface dataset:
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 37 - (2008-1) Military Sales Practices › Rule 19-1-37.06 - Practices Declared False, Misleading, Deceptive or Unfair on a Military Installation

Current through June 25, 2024
A. The following
				acts or practices when committed on a military installation by an insurer or
				insurance producer with respect to the in-person, face-to-face solicitation of
				life insurance are declared to be false, misleading, deceptive or unfair:
1. Knowingly soliciting the purchase of any
				life insurance product "door to door" or without first establishing a specific
				appointment for each meeting with the prospective purchaser.
2. Soliciting service members in a group or
				"mass" audience or in a "captive" audience where attendance is not
				voluntary.
3. Knowingly making
				appointments with or soliciting service members during their normally scheduled
				duty hours.
4. Making appointments
				with or soliciting service members in barracks, day rooms, unit areas, or
				transient personnel housing or other areas where the installation commander has
				prohibited solicitation.
5.
				Soliciting the sale of life insurance without first obtaining permission from
				the installation commander or the commander's designee.
6. Posting unauthorized bulletins, notices or
				advertisements.
7. Failing to
				present DD Form 2885,
Personal Commercial Solicitation
				Evaluation
, to service members solicited or encouraging service
				members solicited not to complete or submit a DD Form 2885.
8. Knowingly accepting an application for
				life insurance or issuing a policy of life insurance on the life of an enlisted
				member of the United States Armed Forces without first obtaining for the
				insurer's files a completed copy of any required form which confirms that the
				applicant has received counseling or fulfilled any other similar requirement
				for the sale of life insurance established by regulations, directives or rules
				of the DoD or any branch of the Armed Forces.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 37 - (2008-1) Military Sales Practices › Rule 19-1-37.08 - Severability

Current through June 25, 2024
If any provision of these sections or the application thereof
				  to any person or circumstance is held invalid for any reason, the invalidity
				  shall not affect the other provisions or any other application of these
				  sections which can be given effect without the invalid provisions or
				  application. To this end all provisions of these sections are declared to be
				  severable.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 37 - (2008-1) Military Sales Practices › Rule 19-1-37.09 - Repeal of Regulation 2007-5

Current through June 25, 2024
Upon adoption of Regulation 2008-1, Regulation 2007-5 shall
				  be repealed.
Miss. Code Ann. §
										83-5-29
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 37 - (2008-1) Military Sales Practices › Rule 19-1-37.10 - Effective Date

Current through June 25, 2024
This regulation shall become effective June 1, 2008 and shall
				  apply to acts or practices committed on or after the effective
				  date.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.01 - Purpose

Current through June 25, 2024
The Mississippi Department of Insurance has seen a dramatic
				  increase in the number of filings made in the life, annuity, and accident and
				  health arena. These filings are becoming more complex thereby requiring a more
				  detailed analysis. Due to the complexity of these filings, more have to be
				  reviewed by the Department's consulting actuaries. As a result of the
				  aforementioned, these reviews are taking longer than they have in the
				  past.
In an attempt to expedite and become more efficient in our
				  review and approval of form and rate filings in Mississippi, the Mississippi
				  Department of Insurance will, pursuant to the authority granted to the
				  Department in Senate Bill 2502, offer all companies licensed to write life,
				  credit life, annuity, and accident and health contracts in Mississippi the
				  option of paying the actuarial fees associated with the review and approval of
				  said forms.
The purpose of this Regulation is to establish an expedited
				  form and rate review process for all life, credit life, annuity, and accident
				  and health contracts filed with the Mississippi Department of
				  Insurance.
Miss. Code Ann. §
										83-9-3(5)(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.02 - Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance as required pursuant to the provisions of Senate Bill 2502, 2008
				  Regular Session, as approved by the Governor of Mississippi, as well as the
				  provisions of Mississippi Department of Insurance Regulation No. 88-101, said
				  regulation being the Rules of Practice and Procedure before the Mississippi
				  Insurance Department.
Miss. Code Ann. §
										83-9-3(5)(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.03 - Scope

Current through June 25, 2024
All companies licensed to write life, credit life, annuity,
				  and accident and health contracts in Mississippi shall have the option of
				  electing the expedited review process, and paying the actuarial fees associated
				  with the review and approval of said forms.
Miss. Code Ann. §
										83-9-3(5)(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.05 - Standard Filing Procedure

Current through June 25, 2024
The Expedited Review Filing Procedure set forth in this
				  Regulation is an optional service being offered by the Mississippi Department
				  of Insurance in an effort to expedite form and rate filing review and approval.
				  Companies may forego the expedited review and approval process and continue to
				  file rates and forms as they have in the past pursuant to the provisions of
Miss. Code Ann.
§§
									83-7-17
				  and
				  83-9-3.
				  Such filings shall continue to be approved or disapproved by the Department in
				  the order in which they are received and assigned.
Miss. Code Ann. §
										83-9-3(5)(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.06 - Severability

Current through June 25, 2024
If any section or portion of a section of this Regulation or
				  the application thereof is held by a court to be invalid, such invalidity shall
				  not affect any other provision of that section or application of the Regulation
				  which can be given effect without the invalid provision or application, and to
				  this end the provisions of the Regulation are declared to be
				  severable.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.07 - Effective Date

Current through June 25, 2024
The Effective Date of this Regulation shall be August 1,
				  2008.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 38 - (2008-2) Filing Option to Expedite Form and Rate Review for All Life, Credit Life, Annuity, and Accident and Health Contracts › Rule 19-1-38.08 - Exhibit A- Mississippi Department of Insurance Expedited Review Filing Election Form

Current through June 25, 2024
EXHIBIT A
MISSISSIPPI DEPARTMENT OF INSURANCE EXPEDITED
				  REVIEW FILING ELECTION FORM
Company Name:
				  ________________________________________________
Form Filing SERFF Number:
				  ______________________________________
Check One:
______________ I elect to use the expedited for filing
				  procedure. I have enclosed a check payable to the Mississippi Department of
				  Insurance for all applicable statutory fees. I also verify I have sent a check
				  to the Actuarial Resources Corporation of Georgia for the applicable expedited
				  review fee.
______________ I elect to use the Standard Filing
				  Procedure.
Miss. Code Ann. §
										83-9-3(5)(Rev.
				  2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.01 - Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance pursuant to
Miss. Code Ann.
§§
									83-1-29;
				  83-1-155; 83-5-17; 83-6-37; 83-7-43; 83-19-31; 83-21-13; 83-23-1; 83-30-59;
				  83-30-61; 83-41-339; 83-41-341; 83-41-343; 83-24-1
et
				  seq
., and any other section where the term "hazardous financial
				  condition" or a similar term is used; and in accordance with the provisions of
				  Mississippi Insurance Department Regulation No. 88-101, said regulation being
				  the Rules of Practice and Procedure before the Mississippi Insurance
				  Department.
Miss. Code Ann. §
										83-5-17,
				  et al. (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.02 - Purpose

Current through June 25, 2024
The purpose of this regulation is to set forth the standards
				  which the Commissioner may use for identifying insurers found to be in such
				  condition as to render the continuance of their business hazardous to their
				  policyholders, creditors or the general public. This regulation shall not be
				  interpreted to limit the powers granted the Commissioner by any laws or parts
				  of laws of this State, nor shall this regulation be interpreted to supersede
				  any laws or parts of laws of this State, except as otherwise provided in
				  Section 7 hereof.
Miss. Code Ann. §
										83-5-17,
				  et al. (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.04 - Commissioner's Authority

Current through June 25, 2024
A. For the purposes
				of making a determination of an insurer's financial condition under this
				regulation, the Commissioner may:
1. Disregard
				any credit or amount receivable resulting from transactions with a reinsurer
				that is insolvent, impaired or otherwise subject to a delinquency
				proceeding;
2. Make appropriate
				adjustments including disallowance to asset values attributable to investments
				in or transactions with parents, subsidiaries or affiliates consistent with the
				NAIC Accounting Policies And Procedures Manual, state laws and
				regulations;
3. Refuse to recognize
				the stated value of accounts receivable if the ability to collect receivables
				is highly speculative in view of the age of the account or the financial
				condition of the debtor; and,
4.
				Increase the insurer's liability in an amount equal to any contingent
				liability, pledge, or guarantee not otherwise included if there is a
				substantial risk that the insurer will be called upon to meet the obligation
				undertaken within the next twelve-month period.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.05 - Judicial Review

Current through June 25, 2024
Any order or decision of the Commissioner may be appealed at
				  the instance of any party to the proceedings whose interests are substantially
				  affected to the Chancery Court of the First Judicial District of Hinds County,
				  Mississippi, in the manner provided by law.
Miss. Const. Art.
				  3,§ 14 (Rev. 2005)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.06 - Severability

Current through June 25, 2024
If any section or portion of a section of this regulation or
				  the application thereof is held by a court to be invalid, such invalidity shall
				  not affect any other provision of that section or application of the regulation
				  which can be given effect without the invalid provision or application, and to
				  this end the provisions of the regulation are declared to be
				  severable.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.07 - Repeal of Regulation 91-101

Current through June 25, 2024
Regulation 91-101 is hereby repealed and replaced by this
				  regulation.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 39 - (2009-2) Define Standards and Commissioner's Authority for Companies Deemed to be in Hazardous Financial Condition › Rule 19-1-39.08 - Effective Date

Current through June 25, 2024
The effective date of this regulation shall be August 1,
				  2009.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.01 - Authority

Current through June 25, 2024
This regulation is promulgated by the Commissioner of
				  Insurance (hereinafter "Commissioner") pursuant to the authority granted to him
				  by Miss. Code Ann. §
									71-3-121
				  (Rev. 2000).
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.02 - Purpose

Current through June 25, 2024
The purpose of this Regulation is to implement the
				  requirements of Miss. Code Ann. §
									71-3-121
				  (Rev. 2000).
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.03 - Scope

Current through June 25, 2024
This Regulation shall apply to all insurance companies
				  authorized in this state to provide coverage for an employer's liability for
				  injuries, disability or death to persons in their employment, without regard to
				  fault, as prescribed by state worker's compensation laws.
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.04 - Definitions

Current through June 25, 2024
For the purposes of this Regulation, the definitions found in
				  Miss. Code Ann. §§
									71-3-3 and
				  71-7-1, as
				  they may be amended from time to time, will control.
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.05 - Safety Program Required

Current through June 25, 2024
A. Every insurer
				shall establish a safety program for the health and benefit of the employees of
				its insureds. An insurer may use any reasonable methods to notify its insureds
				of the availability of the materials that comprise its program, and deliver
				those materials upon the request of an insured.
B. Insurer safety programs shall include an
				explanation of an employee's rights under the Workers' Compensation Law, Miss.
				Code Ann. §
									71-3-1,
				et seq., and the Rules of the Mississippi Workers' Compensation Commission
				which the insureds may make readily available to their employees.
C. Insurer safety programs shall make
				available to insured employers notice of the employer's right to implement and
				maintain a written policy for drug and alcohol workplace. The notice shall
				inform the employer that such policy shall comply with the requirements of
				Miss. Code Ann. §§
									71-7-1 et
				seq. and the rules and regulations for drug and alcohol testing of employees
				and job applicants by public and private employers promulgated by the
				Mississippi State Board of Health. Pursuant to §
									71-7-1,
et seq.
, the election of a public or private employer to
				conduct drug and alcohol testing is voluntary.
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.06 - Filings

Current through June 25, 2024
Within 120 days of the effective date of this Regulation,
				  each insurer shall file a copy of its safety program with the Commissioner of
				  Insurance, for informational purposes only, in order to verify compliance with
				  this regulation.
Miss. Code Ann. §
										71-3-121
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.07 - Severability

Current through June 25, 2024
If any section or portion of a section of this Regulation or
				  the application thereof is held by a court to be invalid, such invalidity shall
				  not affect any other provision of that section or application of the Regulation
				  which can be given effect without the invalid provision or application, and to
				  this end the provisions of the Regulation are declared to be
				  severable.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 40 - (2011-1) Establishment of Insurer Safety Programs › Rule 19-1-40.08 - Effective Date

Current through June 25, 2024
This Regulation shall become effective upon
				  adoption.
Miss. Code Ann. §
										25-43-3.113
				  (Rev. 2010)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.01 - Authority

Current through June 25, 2024
This Regulation is promulgated by the Commissioner of
				  Insurance pursuant to the authority granted to him by
Miss. Code
				  Ann
. §
									83-5-1
				  and
Miss. Code Ann
. §
									83-2-3
				  as amended by House Bill 756, 2014 Regular Session, as well as the provisions
				  of the Mississippi Department of Insurance Regulation "Rules of Practice and
				  Procedure before the Mississippi Insurance Department" 19 Miss. Admin. Code,
				  Part 1, Chapter 15.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); 19 Miss. Admin. Code, Part 1, Chapter 15; HB 756, 2014
				  Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.02 - Purpose and Scope

Current through June 25, 2024
The purpose of this Regulation is to implement the provisions
				  contained in House Bill 756, 2014 Regular Session. This Regulation applies to
				  homeowners' insurance policies written by admitted carriers in this state
that contain a named storm deductible or a hurricane
				  deductible
. This Regulation shall not apply to policies providing
				  windstorm and hail coverage written by the Mississippi Windstorm Underwriting
				  Association or homeowners' insurance policies written by non-admitted carriers
				  who are doing business in this state pursuant to Section
				  83-21-17 et
				  seq. (Rev. 2011).
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.03 - Definitions

Current through June 25, 2024
For the purposes of this Regulation, the following
				  definitions shall apply:
A. "Deductible" shall mean a policy provision that requires
				  the insured to be responsible for a specific amount or percentage of a loss or
				  the percentage of insured value on the policy and the insurer to pay covered
				  losses in excess of that amount.
B. "Department" shall mean the Mississippi Insurance
				  Department.
C. "Homeowners' Insurance Policies" means any personal lines
				  residential property insurance coverage including any homeowner, dwelling,
				  mobile home, tenant or condominium unit owner form of coverage. For the
				  purposes of this Regulation, this shall include mobile home/manufactured home
				  insurance coverage.
D. "Hurricane" shall mean a storm system that has been
				  declared to be a hurricane by the National Hurricane Center of the National
				  Weather Service.
E. "Hurricane Deductible" shall mean a percentage wind
				  deductible applicable during an event which is a Hurricane.
F. "Insurer" shall mean an insurance company writing
				  homeowners' insurance coverage in this state. For the purposes of this
				  Regulation, the term "Insurer" does not include the Mississippi Windstorm
				  Underwriting Association or non-admitted carriers who are doing business in
				  this state pursuant to Section
				  83-21-17, et
				  seq. (Rev. 2011).
G. "Named Storm" means a storm system that has been declared
				  a named storm by the National Hurricane Center of the National Weather
				  Service.
H. "Named Storm Deductible" shall mean a percentage wind
				  deductible applicable
during
an event which is a Named
				  Storm.
I. "National Weather Service" means the weather information
				  service, which includes the National Hurricane Center that is a line office of
				  the National Oceanic and Atmospheric Administration (NOAA).
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.04 - Deductibles

Current through June 25, 2024
Insurers are not required to include a named storm deductible
				  or a hurricane deductible in a homeowners' insurance policy. However, should an
				  insurer include a named storm deductible or a hurricane deductible in their
				  policy filing, the insurer must comply with the provisions set forth in
Miss. Code Ann
. §
									83-2-3;
				  House Bill 756, 2014 Regular Session; and this Regulation.
A. Named Storm Deductible - a homeowners'
				insurance policy may offer a percentage deductible for the peril of wind from a
				named storm. If a percentage deductible is provided, the insurer shall offer a
				buy-back provision for that deductible as set forth in Rule 41.05 of this
				Regulation.
B. Hurricane Deductible
				- a homeowners' insurance policy may offer a percentage deductible for the
				peril of wind from a hurricane. If a percentage deductible is provided, the
				insurer shall offer a buy-back provision for that deductible as set forth in
				Rule 41.05 of this Regulation.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.05 - Buy-Back Provisions

Current through June 25, 2024
If a homeowners' policy includes a percentage named storm
				  deductible or a percentage hurricane deductible, the insurer shall offer a
				  buy-back provision that is actuarially sound; however the Commissioner of
				  Insurance may grant a waiver from the mandatory buy-back provision in
				  accordance with the following procedure and criteria:
A. The insurer shall make a formal filing
				requesting a waiver from the buy-back provision requirement with the
				Commissioner;
B. The insurer shall
				submit written proof in its formal filing as to why it is in the best interest
				of Mississippi policyholders to receive a waiver from the buy-back provision
				requirement and shall provide any supporting documentation requested by the
				Commissioner deemed appropriate to make his decision; and,
C. All expenses incurred by the Commissioner
				to determine the validity of the waiver request shall be borne by the
				petitioning insurer.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.06 - Uniform Policy Language for Named Storm Deductibles

Current through June 25, 2024
Any homeowners' insurance policy
or
				  endorsement
that includes a named storm deductible must include
				  the following language in the policy:
A. Definition of Named Storm - the policy
				must define a named storm as set forth in the definition found at Rule 41.03(G)
				of this Regulation.
B. Period when
				a Named Storm Deductible Applies - the policy must state that the named storm
				deductible is only applicable to wind
, wind gusts, hail, rain,
				tornado, or cyclone
losses occurring during the duration of a
				named storm and define the duration as follows:
1. Beginning at the time a named storm watch
				or warning is issued for any part of Mississippi by the National Hurricane
				Center of the National Weather Service;
2. Continuing for the time period during
				which the named storm conditions exist anywhere in Mississippi; and,
3. Ending twenty-four (24) hours following
				the termination of the last named storm watch or warning issued for any part of
				Mississippi by the National Hurricane Center of the National Weather
				Service.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.07 - Uniform Policy Language for Hurricane Deductibles

Current through June 25, 2024
Any homeowners' insurance policy
or
				  endorsement
that
includes
a hurricane
				  deductible must include the following language in the policy:
A. Definition of Hurricane - the policy must
				define a hurricane as set forth in the definition found at Rule 41.03(D) of
				this Regulation.
B. Period when the
				Hurricane Deductible Applies - the policy must state that the hurricane
				deductible is only applicable to wind
, wind gusts, hail, rain,
				tornado, or cyclone
losses occurring during the duration of a
				hurricane and define the duration as follows:
1. Beginning at the time a hurricane watch or
				warning is issued for any part of Mississippi by the National Hurricane Center
				of the National Weather Service;
2.
				Continuing for the time period during which the hurricane conditions exist
				anywhere in Mississippi; and,
3.
				Ending twenty-four (24) hours following the termination of the last hurricane
				watch or hurricane warning issued for any part of Mississippi by the National
				Hurricane Center of the National Weather Service.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.08 - Notice of Named Storm Deductibles

Current through June 25, 2024
A. Insurers are
				required to provide clear and prominent notice of all named storm deductibles.
				Notices of named storm deductibles must comply with the provisions of this
				Regulation;
Miss. Code Ann
. §
									83-2-3;
				and HB 756, 2014 Regular Session.
1. The
				notice shall be included
in either
the policy issuance
				and renewal package
;
in a separate mailing sent at the
				time of policy issuance or renewal
; the Outline of Coverage and
				Comprehensive Policy Checklist; or the billing
				statement.
2. The
				notice shall clearly and fully disclose all details pertaining to all named
				storm deductibles in no less than 10-point type.
a. While the information provided will vary
				depending upon the specifics of the deductible, at a minimum the insurer must
				explain how the deductible will be applied and details
about
when the deductible applies.
b. The purpose of the notice is to inform the
				insured of all information necessary to make an informed decision concerning
				named storm deductible
s
in the policy.
c. Insurers are strongly encouraged to
				include the actual dollar amount of the percentage deductible based on the
				Coverage A coverage amount on the notice. If the insurer is unable to do so,
				the notice must specify that the actual dollar amount is included on the
				declarations page.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.09 - Notice of Hurricane Deductibles

Current through June 25, 2024
A. Insurers are
				required to provide clear and prominent notice of all hurricane deductibles.
				Notices of hurricane deductibles must comply with the provisions of this
				Regulation;
Miss. Code Ann
. §
									83-2-3;
				and HB 756, 2014 Regular Session.
1. The
				notice shall be included
in either
the policy issuance
				and renewal package
;
in a separate mailing sent at the
				time of policy issuance or renewal
; the Outline of Coverage and
				Comprehensive Policy Checklist; or the billing
				statement.
2. The
				notice shall clearly and fully disclose all details pertaining to all hurricane
				deductibles in no less than 10 point type.
a.
				While the information provided will vary depending upon the specifics of the
				deductible, at a minimum the insurer must explain how the deductible will be
				applied and details
about
when the deductible
				applies.
b. The purpose of the
				notice is to inform the insured of all information necessary to make an
				informed decision concerning the hurricane deductibles in the policy.
c. Insurers are strongly encouraged to
				include the actual dollar amount of the percentage deductible based on the
				Coverage A coverage amount on the notice. If the insurer is unable to do so,
				the notice must specify that the actual dollar amount is included on the
				declarations page.
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.10 - Rate and Policy Form Filings

Current through June 25, 2024
A. All rate filings
				must provide sufficient actuarial justification for rate variances, premium
				offsets and premium credits for a named storm deductible or hurricane
				deductible.
B. Insurers must
				demonstrate that rates are not excessive, inadequate or unfairly
				discriminatory.
C. Insurers that
				choose to utilize hurricane models in the setting of rates must identify the
				model(s) used, including the version of the Model(s) used, as well as provide a
				complete explanation of (1) the reasons(s) that the particular model(s) was
				chosen; and (2) the effect
that
use of the model(s)
may have had
on the rates requested. Any changes in
				the model(s) utilized from a prior filing must be fully explained.
D. If an insurer is requesting an increase in
				premium due to increased reinsurance costs, the insurer must provide an
				explanation of the increased cost. This explanation should include an
				explanation of alternatives to reinsurance (i.e. CAT bonds, surplus notes,
				etc.). Insurers should fully disclose how reinsurance costs are allocated to
				Mississippi.
If a portion of the filing is considered by the insurer to be
				  proprietary and a trade secret, it will be the duty of the insurer to identify
				  the specific portions of the filing that they wish to be held confidential in
				  accordance with the provisions of
Miss. Code Ann
.
				  §
										79-23-1.
E. From and after October 1, 2014,
				insurers may not continue to use forms previously approved which are not in
				compliance with this Regulation;
Miss. Code Ann
.
				§
									83-2-3;
				and HB 756.
Miss. Code Ann.
				  §§
										79-23-1;
				  83-5-1; 83-2-3 (Rev 2011); HB 756, 2014 Regular
				  Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.11 - Severability

Current through June 25, 2024
If any provision of any section of this Regulation or the
				  application thereof is held by a court to be invalid, such invalidity shall not
				  affect any other provision of that section or application of the Regulation
				  which can be given effect without the invalid provision or application, and to
				  this end the provisions of the Regulation are declared to be
				  severable.
Miss. Code Ann.§
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.12 - Effective Date

Current through June 25, 2024
The Effective Date of this Regulation shall be July 1, 2014.
				  Insurers must be in full compliance with the provisions of this Regulation by
				  October 1, 2014.
Miss. Code Ann.
				  §§
										25-43-3.113(2)(b)(i);
				  83-5-1; 83-2-3 (Rev 2011); HB 756, 2014 Regular
				  Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.13 - Attachment A - Named Storm Deductible Uniform Policy Language

Current through June 25, 2024
For the premium charged, we will pay only that part of the
				  total of the loss for all Section I Property Coverages that exceeds the Named
				  Storm Deductible noted below:
This deductible applies, as described below, in the event of
				  direct physical loss to property covered under this policy, caused directly or
				  indirectly by wind
, wind gusts, hail, rain, tornadoes, or cyclones
				  occurring
during a named storm and shall replace any other
				  applicable deductible during that event. A named storm shall mean a storm
				  system that has been declared a named storm by the National Hurricane Center of
				  the National Weather Service.
The duration of the named storm occurs during the time
				  period:
a. Beginning at the time a
				named storm watch or warning is issued for any part of Mississippi by the
				National Hurricane Center of the National Weather Service;
b. Continuing for the time period during
				which the named storm conditions exist anywhere in Mississippi; and,
c. Ending twenty-four (24) hours following
				the termination of the last named storm watch or warning issued for any part of
				Mississippi by the National Hurricane Center of the National Weather Service.
The Named Storm deductible shown in the Declarations applies
				  only for loss or damage to covered property caused by wind, wind gusts, hail,
				  rain, tornadoes, or cyclones occurring during a named storm. The Named Storm
				  deductible also applies to any objects driven by wind which are not otherwise
				  excluded if your covered loss occurs during the time period.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 41 - Named Storm Deductible and Hurricane Deductible › Rule 19-1-41.14 - Attachment B - Hurricane Deductible Uniform Policy Language

Current through June 25, 2024
For the premium charged, we will pay only that part of the
				  total of the loss for all Section I Property Coverages that exceeds the
				  Hurricane Deductible noted below:
This deductible applies, as described below, in the event of
				  direct physical loss to property covered under this policy, caused directly or
				  indirectly by wind
, wind gusts, hail, rain, tornadoes, or cyclones
				  occurring
during a hurricane and shall replace any other
				  applicable deductible during that event. A hurricane shall mean a storm system
				  that has been declared a hurricane by the National Hurricane Center of the
				  National Weather Service.
The duration of the hurricane occurs during the time
				  period:
a. Beginning at the time a
				hurricane watch or warning is issued for any part of Mississippi by the
				National Hurricane Center of the National Weather Service;
b. Continuing for the time period during
				which the hurricane conditions exist anywhere in Mississippi; and,
c. Ending twenty-four (24) hours following
				the termination of the last hurricane watch or warning issued for any part of
				Mississippi by the National Hurricane Center of the National Weather Service.
The Hurricane deductible shown in the Declarations applies
				  only for loss or damage to covered property caused by wind, wind gusts, hail,
				  rain, tornadoes, or cyclones occurring during a hurricane. The Hurricane
				  deductible also applies to any objects driven by wind not otherwise excluded if
				  your covered loss occurs during the time period.
Miss. Code Ann.
				  §§
										83-5-1;
				  83-2-3 (Rev 2011); HB 756, 2014 Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.01 - Authority

Current through June 25, 2024
This regulation is promulgated pursuant to the authority
				  granted by Senate Bill 2467 which was passed by the Mississippi Legislature in
				  the 2018 Regular Session and 19 Miss. Admin. Code, Part 1, Chapter 15, said
				  Regulation being the Rules of Practice and Procedure before the Mississippi
				  Insurance Department.
Miss. Code Ann. §
										83-21-1,
				  et seq. (Rev. 2011); SB 2467, 2018 Mississippi Legislature Regular
				  Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.02 - Purpose and Scope

Current through June 25, 2024
A. Purpose. This
				regulation is promulgated to provide information to surplus lines insurance
				producers regarding the collection and remittance of the non-admitted policy
				fee pursuant to the enactment of Senate Bill 2467.
B. Scope. This regulation applies to all
				single risk surplus lines policies that are written on risks and contents
				located in Mississippi; and on multi-state risks wherein Mississippi is the
				home state as defined by the federal Non admitted and Reinsurance Reform Act
				("NRRA") and
Miss. Code Ann.
§
									83-21-18(2)
Miss. Code Ann. §
										83-21-18
				  (Rev. 2011); SB 2467, 2018 Mississippi Legislature Regular
				  Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.03 - Senate Bill 2467

Current through June 25, 2024
Senate Bill 2467 amends Section
				  83-34-4,
				  to require for one (1) year beginning July 1, 2018, that Four Million Five
				  Hundred Thousand Dollars ($4,500,000.00) derived from the non admitted policy
				  fee be deposited into the Rural Fire Truck or Supplementary Rural Fire Truck
				  Fund, and One Million Five Hundred Thousand Dollars derived from the
				  nonadmitted policy fee be deposited into the Capital Expense Fund, before any
				  monies are forwarded to the Mississippi Windstorm Underwriting Association
				  ("MWUA").
SB 2467, 2018
				  Mississippi Legislature Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.04 - Reporting and Collection of the Non-admitted Policy Fee on and after July 1, 2018

Current through June 25, 2024
A. A clearing house
				account has been established in Trustmark Bank, entitled the "Non-admitted
				Policy Fee Account", for which the Mississippi Insurance Department ("MID")
				shall be the administrator.
B. The
				Mississippi Surplus Lines Association ("MSLA") shall be provided with the
				account number for this account, and MSLA shall provide this information to
				surplus lines insurance producers, along with instructions on how to remit any
				and all non-admitted policy fees collected on or after July 1, 2018.
C. When making payment for the Non-admitted
				policy fee on the MSLA website, the surplus lines insurance producer will enter
				SLIP and click the BILLING tab as usual.
D. Prior to July 1, 2018, surplus lines
				insurance producers that have a fraud service on their bank account will need
				to provide their bank with a new ACH Company ID as the Company ID for the MWUA
				Fee will be different starting July 1, 2018. There will be a link to the New
				MWUA Company ID at the BILLING tab in SLIP.
E. It will be the responsibility of the MID
				to transfer monies from the Non-admitted Policy Fee Account to the Capital
				Expense Fund Account and Rural Fire Truck Fund Account. When the amounts
				required by SB 2467 have been forwarded to those accounts, the MID shall
				transfer the remaining monies collected to the MWUA.
F. As SB 2467 provides for the diversion of
				these monies to the Capital Expense Fund Account and Rural Fire Truck Fund
				Account for one (1) year, MID and MSLA shall provide notice to surplus lines
				insurance producers of any subsequent changes that may or may not be made
				during the 2019 Regular Legislative Session.
SB 2467, 2018
				  Mississippi Legislature Regular Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.05 - Severability Clause

Current through June 25, 2024
If any provision of this regulation, or the application
				  thereof to any person or circumstance, is held invalid, such determination
				  shall not affect other provisions or applications of this regulation which can
				  be given effect without the invalid provision or application, and to that end
				  the provisions of this regulation are severable.
Miss. Code Ann. §
										83-5-1
				  (Rev. 2011)
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 42 - Non-Admitted Policy Fee Account Regulation › Rule 19-1-42.06 - Effective Date

Current through June 25, 2024
This Regulation shall be effective on and after July 1,
				  2018.
Miss. Code Ann.
				  §§
										25-43-3.112;
				  83-5-1 (Rev. 2011); SB 2467, 2018 Mississippi Legislature Regular
				  Session
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 43 - Corporate Governance Annual Disclosure Regulation › Rule 19-1-43.01 - Authority

Current through June 25, 2024
This regulation is promulgated pursuant to the authority
				  granted in House Bill 324 which was passed by the Mississippi Legislature in
				  the 2019 Regular Legislative Session and 19 Miss. Admin. Code, Part 1, Chapter
				  15, said Regulation being the Rules of Practice and Procedure before the
				  Mississippi Insurance Department.
Miss. Code Ann.
				  §§ 83-5-7-1 through 83-5-717
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 43 - Corporate Governance Annual Disclosure Regulation › Rule 19-1-43.02 - Purpose

Current through June 25, 2024
The purpose of this regulation is to set forth the
				  procedures for filing and the required contents of the Corporate Governance
				  Annual Disclosure (CGAD), deemed necessary by the Commissioner to carry out the
				  provisions of House Bill 324, 2019 Regular Legislative Session.
Miss. Code Ann.
				  §§ 83-5-7-1 through 83-5-717
Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 43 - Corporate Governance Annual Disclosure Regulation › Rule 19-1-43.03 - Definitions

Current through June 25, 2024
A. "Commissioner." The Insurance Commissioner
				of the State.
B. "Insurance
				group." For the purpose of this Act, the term "insurance group" shall mean
				those insurers and affiliates included within an insurance holding company
				system as defined in Miss. Ann. Code §
									83-6-1(d)
				(Rev. 2011).
C. "Insurer." The
				term "insurer" shall have the same meaning as set forth in Miss. Ann.Code
				§
									83-6-1(e)
				(Rev. 2011), except that it shall not include agencies, authorities or
				instrumentalities of the United States, its possessions and territories, the
				Commonwealth of Puerto Rico, the District of Columbia, or a state or political
				subdivision of a state.
D. "Senior
				Management." The term "senior management" shall mean any corporate officer
				responsible for reporting information to the board of directors at regular
				intervals or providing this information to shareholders or regulators and shall
				include, for example and without limitation, the Chief Executive Officer
				("CEO"), Chief Financial Officer ("CFO"), Chief Operations Officer ("COO"),
				Chief Procurement Officer ("CPO"), Chief Legal Officer ("CLO"), Chief
				Information Officer ("CIO"), Chief Technology Officer ("CTO"), Chief Revenue
				Officer ("CRO"), Chief Visionary Officer ("CVO"), or any other "C" level
				executive.
Miss. Code Ann.
				  §§ 83-5-7-1 through 83-5-717