Iowa Administrative Code › Agency 191 - Insurance Division › Regulation of Insurers › Chapter 5 - Regulation of Insurers-general Provisions › Rule 191-5.26 - Participation in the Naic Insurance Regulatory Information System

Current through Register Vol. 47, No. 3, July 24, 2024
(1) This rule
				applies to all domestic, foreign and alien insurers who are authorized to
				transact business in this state.
(2) Each domestic, foreign and alien insurer,
				except entities organized under Iowa Code chapters 512A, 512B, 514, 514B, 518
				and 518A and those which write only in this state, who is authorized to
				transact insurance in this state shall annually on or before March 1 of each
				year, file with the National Association of Insurance Commissioners (NAIC) a
				copy of its annual statement convention blank, along with such additional
				filings as prescribed by the commissioner for the preceding year. The
				information filed with the NAIC shall be in the same format and scope as that
				required by the commissioner and shall include the signed jurat page and the
				actuarial certification. Any amendments and addendums to the annual statement
				filing subsequently filed with the commissioner shall also be filed with the
				NAIC.
Foreign insurers that are domiciled in a state which has a
				  law substantially similar to the requirement in the previous sentence shall be
				  deemed in compliance with this rule.
(3) Members of the NAIC, their duly
				authorized committees, subcommittees, and task forces, their delegates, NAIC
				employees, and all others charged with the responsibility of collecting,
				reviewing, analyzing and disseminating the information developed from the
				filing of the annual statement convention blanks shall be deemed to be acting
				on behalf of the commissioner by virtue of their collection, review, and
				analysis or dissemination of the data and information collected from the
				filings required under this rule.
(4) All financial analysis ratios and
				examination synopses concerning insurance companies that are submitted to the
				insurance division by the NAIC Insurance Regulatory Information System are
				confidential as provided in 191-subrule 1.3(11),
				paragraph
"c."
(5)
				The commissioner may suspend, revoke or refuse to renew the certificate of
				authority of any insurer failing to file its annual statement when due or
				within any extension of time which the commissioner, for good cause, may have
				granted.
(6) Electronic filing. The
				annual financial statement filings required of domestic insurers pursuant to
				Iowa Code sections
				508.11 and
				515.63 and the
				quarterly statement filings required pursuant to rule
				191-5.3 (507,508,515) must be
				filed electronically with the National Association of Insurance Commissioners.
				Electronic filing shall include filing via the Internet or by diskette. The
				electronic filing must be prepared in accordance with the NAIC Directive to
				Companies, Coding Conventions, Field Names and Definitions, Data Elements, and
				Reporting Requirements for Annual/Quarterly Statement Submission on Diskettes.
				Electronic filings are in addition to and due at the time of the filing of the
				annual/quarterly financial statement blank with the National Association of
				Insurance Commissioners. Diskette filings do not need to be filed with the
				division unless the insurer is directed by the commissioner to submit the
				filing(s) on diskette. This diskette filing requirement does not apply to
				entities organized pursuant to Iowa Code chapters 512A, 512B, 514, 514B, 518,
				and 518A.
This rule is intended to implement Iowa Code sections
				  508.11 and
				  515.63.