reglab/statecodes huggingface dataset:
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-32 - Long-Term Care Insurance › Appendix D

Current through Register Vol. XLI, No. 28, July 12, 2024
Long-Term Care Insurance Suitability Letter
Dear [Applicant]:
Your recent application for long-term care insurance included a
				  "personal worksheet," which asked questions about your finances and your reasons for
				  buying long-term care insurance. For your protection, state law requires us to
				  consider this information when we review your application, to avoid selling a policy
				  to those who may not need coverage.
[Your answers indicate that long-term care insurance may not meet
				  your financial needs. We suggest that you review the information provided along with
				  your application, including the booklet "Shopper's Guide to Long-Term Care
				  Insurance" and the page titled "Things You Should Know Before Buying Long-Term Care
				  Insurance." Your state insurance department also has information about long-term
				  care insurance and may be able to refer you to a counselor free of charge who can
				  help you decide whether to buy this policy.]
[You chose not to provide any financial information for us to
				  review.]
We have suspended our final review of your application. If, after
				  careful consideration, you still believe this policy is what you want, check the
				  appropriate box below and return this letter to us within the next 60 days. We will
				  then continue reviewing your application and issue a policy if you meet our medical
				  standards.
If we do not hear from you within the next 60 days, we will close
				  your file and not issue you a policy. You should understand that you will not have
				  any coverage until we hear back from you, approve your application and issue you a
				  policy.
Please check one box and return in the enclosed
				  envelope.
[]
Yes
, [although my worksheet indicates that
				  long-term care insurance may not be a suitable purchase,] I wish to purchase this
				  coverage. Please resume review of my application.
[]
No.
I have decided not to buy a policy at this
				  time.
______________________ ____________________
APPLICANT'S SIGNATURE DATE
Please return to [issuer] at [address] by
				  [date].
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-32 - Long-Term Care Insurance › Appendix E

Current through Register Vol. XLI, No. 28, July 12, 2024
Claims Denial Reporting Form
Long-Term Care Insurance
For the State of ______________
For the Reporting Year of ______________
Company Name:
________________________________
Due:
				  June 30 annually
Company Address:
________________________________
________________________________
Company NAIC Number:
________________________________
Contact Person:
________________________________
Phone Number:
________________________________
Line of Business: Individual Group
Instructions
The purpose of this form is to report all long-term care claim
				  denials under in force long-term care insurance policies. Indicate the manner of
				  reporting by checking one of the boxes below:
[ ] Per Claimant - counts each individual who makes one or a
				  series of claim requests.
[ ] Per Transaction - counts each claim payment request.
"Denied" means a claim that is not paid for any reason other than
				  for claims not paid for failure to meet the waiting period or because of an
				  applicable preexisting condition.
State Data
Nationwide Data
1
1
Total Number of Long-Term Care Claims Reported
2
Total Number of Long-Term Care Claims Denied/Not Paid
3
Number of Claims Not Paid due to Preexisting Condition
						  Exclusion
4
Number of Claims Not Paid due to Waiting (Elimination) Period
						  Not Met
5
Net Number of Long-Term Care Claims Denied for Reporting
						  Purposes (Line 2 Minus Line 3 Minus Line 4)
6
Percentage of Long-Term Care Claims Denied of Those Reported
						  (Line 5 Divided By Line 1)
7
Number of Long-Term Care Claim Denied due to:
8
Long-Term Care Services Not Covered under the
						  Policy2
$ Provider/Facility Not Qualified under the
						  Policy3
$ Benefit Eligibility Criteria Not
						  Met4
$ Other
1. The nationwide data may be viewed as a more representative and
				  credible indicator where the data for claims reported and denied for your state are
				  small in number.
2. Example-home health care claim filed under a nursing home only
				  policy.
3. Example-a facility that does not meet the minimum level of care
				  requirements or the licensing requirements as outlined in the policy.
4. Examples-a benefit trigger not met, certification by a licensed
				  health care practitioner not provided, no plan of care.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-32 - Long-Term Care Insurance › Appendix G

Current through Register Vol. XLI, No. 28, July 12, 2024
Long-Term Care Insurance
Replacement and Lapse Reporting Form
For the State of
______________________
For the
				  Reporting Year of
___________
Company Name:
______________________
Due: June 30
				  annually
___________
Company Address:
______________________
Company NAIC
				  Number:
___________
Contact Person:
______________________
Phone Number:
				  (____)
___________
I
nstructions
The purpose of this form is to report on a statewide basis
				  information regarding long-term care insurance policy replacements and lapses.
				  Specifically, every insurer shall maintain records for each producer on that
				  producer's amount of long-term care insurance replacement sales as a percent of the
				  producer's total annual sales and the amount of lapses of long-term care insurance
				  policies sold by the producer as a percent of the producer's total annual sales. The
				  tables below should be used to report the ten percent (10%) of the insurer's
				  producers with the greatest percentages of replacements and lapses.
Listing of the 10% of Producers with the Greatest Percentage
				  of Replacements
Producer's Name
Number of Policies Sold By This Producer
Number of Policies Replaced By This Producer
Number of Replacements As % of Number Sold By This Producer
Listing of the 10% of Producers with the Greatest Percentage
				  of Lapses
Producer's Name
Number of Policies Sold By This Producer
Number of Policies Lapsed By This Producer
Number of Lapses As % of Number Sold By This Producer
Company Totals
Percentage of Replacement Policies Sold to Total Annual Sales
				  ____%
Percentage of Replacement Policies Sold to Policies In Force (as
				  of the end of the preceding calendar year) ____%
Percentage of Lapsed Policies to Total Annual Sales _____%
Percentage of Lapsed Policies to Policies In Force (as of the end
				  of the preceding calendar year) _____%
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. -- This
				legislative rule implements the provisions of W. Va. Code ''33-32-17 and 33-32-4
				relating to all purchasing groups, and to risk retention groups not chartered in
				this State. The rule establishes the amounts of registration fees to be paid by both
				types of entities, as well as the amounts of annual financial statement filing fees
				to be paid by these risk retention groups. It also provides for increases in the
				fees for risk retention groups chartered in other jurisdictions that impose higher
				analogous fees on risk retention groups domiciled in West Virginia.
1.2. Authority. -- W. Va. Code ''33-2-10, 33-32-4
				(f), and 33-32-17(e)
1.3. Filing Date.
				-- April 27, 1994
1.4. Effective Date.
				-- April 27, 1994
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-2 - Registration Fees for Purchasing Groups, and for Risk Retention Groups Not Chartered in this State

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. Each purchasing
				group seeking to do business in this State, and each risk retention group not
				chartered in this State but seeking to do business in West Virginia, shall remit a
				two hundred dollar ($200) processing fee upon the initial filing of registration
				materials with the Insurance Commissioner.
2.2. Each purchasing group already registered to
				do business in West Virginia, and each risk retention group not chartered in this
				state but already registered to do business here shall remit a fifty dollar ($50)
				processing fee upon the filing of any registration materials modification with the
				Insurance Commissioner.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-3 - Annual Financial Statement Filing Fees for Risk Retention Groups Not Chartered in this State

Current through Register Vol. XLI, No. 28, July 12, 2024
Each risk retention group not chartered in this State, but
				  registered or seeking to register with the Insurance Commissioner to do business as
				  a risk retention group in West Virginia, shall remit a one hundred dollar ($100) fee
				  upon filing with the Commissioner its annual financial statement required by W. Va.
				  Code '33-32-4(e)(1).
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-4 - Retaliatory Fee Increases for Risk Retention Groups Not Chartered in this State

Current through Register Vol. XLI, No. 28, July 12, 2024
As provided in W. Va. Code '33-3-16(a),
				  when another state charges a higher fee to West Virginia-domiciled risk retention
				  groups than a fee set in Section 2 or 3 of this rule, a risk retention group
				  chartered in that state and doing business or seeking to do business in West
				  Virginia shall remit to the Insurance Commissioner the higher fee equivalent to the
				  registration fee or annual statement filing fee, or its counterpart, which the other
				  state charges to West Virginia- domiciled risk retention groups.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-5 - Fees Designated for Insurance Department Operation

Current through Register Vol. XLI, No. 28, July 12, 2024
All fees remitted by purchasing groups, and by risk retention
				  groups not chartered in this State, pursuant to this rule are designated by W. Va.
				  Code '33-3-13(b)
				  for use by the Insurance Commissioner in operating the Insurance Department of this
				  State.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-34 - Filing Fees For Purchasing Groups And For Risk Retention Groups Not Chartered In this State › Section 114-34-6 - Severability

Current through Register Vol. XLI, No. 28, July 12, 2024
If any provision of this rule or the application thereof to any
				  person or circumstance is for any reason held invalid, the remainder of the rule and
				  the application of that provision to other persons or circumstances shall not be
				  affected thereby.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. -- The
				purpose of this rule is to set forth rules and procedural requirements that the
				Commissioner deems necessary to carry out the provisions of the West Virginia
				Holding Company Systems Act (hereinafter referred to as "the Act"). The information
				required by this rule is hereby declared to be necessary and appropriate in the
				public interest and for the protection of the policyholders in this state. This rule
				is based on the National Association of Insurance Commissioners' (NAIC) "Insurance
				Holding Company System Model Regulation with Reporting Forms and Instructions"
				(Model 450), as amended December 16, 2010.
1.2. Authority. -- W. Va. Code §§
									33-27-14 and
				33-2-10.
1.3. Filing Date. -- April 20, 2012.
1.4. Effective Date. -- July 1, 2012.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
As used in this legislative rule:
2.1. "Commissioner" means the West Virginia
				Insurance Commissioner.
2.2. "Executive
				Officer" means the chief executive officer, chief operating officer, chief financial
				officer, treasurer, secretary, controller, and any other individual performing
				functions corresponding to those performed by the foregoing officer under whatever
				title.
2.3. "Form A" means the form as
				set forth in Appendix A of this rule.
2.4. "Form B" means the form as set forth in
				Appendix B of this rule.
2.5. "Form C"
				means the form as set forth in Appendix C of this rule.
2.6. "Form D" means the form as set forth in
				Appendix D of this rule.
2.7. "Form E"
				means the form as set forth in Appendix E of this rule.
2.8. "Form F" means the form as set forth in
				Appendix F of this rule.
2.9. "Ultimate
				controlling person" means that person which is not controlled by any other
				person.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-3 - Forms - General Requirements

Current through Register Vol. XLI, No. 28, July 12, 2024
3.1. Forms A,
				B, C, D, E and F are intended to be guides in the preparation of the statements
				required by W. Va. Code §§
									33-27-3,
				-3a, -4 and -5. They are not intended to be blank forms to be filled in. The
				statements filed shall contain the numbers and captions of all items, but the text
				of the items may be omitted provided the answers thereto are prepared in such a
				manner as to indicate clearly the scope and coverage of the items. All instructions,
				whether appearing under the items of the form or elsewhere therein, are to be
				omitted. Unless expressly provided otherwise, if any item is inapplicable or the
				answer thereto is in the negative, an appropriate statement to that effect shall be
				made.
3.2. Three (3) complete copies of
				each statement including exhibits and all other papers and documents filed as a part
				thereof, shall be filed with the Commissioner by personal delivery or mail addressed
				to: West Virginia Offices of the Insurance Commissioner, 1124 Smith Street, Post
				Office Box 50540, Charleston, WV 25305-0540, Attention: Financial Conditions
				Division. At least one of the copies shall be signed in the manner prescribed on the
				form. Unsigned copies shall be conformed. If the signature of any person is affixed
				pursuant to a power of attorney or other similar authority, a copy of the power of
				attorney or other authority shall also be filed with the statement.
3.3. If an applicant requests a hearing on a
				consolidated basis under W. Va. Code §
									33-27-3(f)(3),
				in addition to filing Form A with the Commissioner, the applicant shall file a copy
				of Form A with the NAIC in electronic form within five days of making such
				request.
3.4. Statements should be
				prepared electronically. Statements shall be easily readable and suitable for review
				and reproduction. Debits in credit categories and credits in debit categories shall
				be designated so as to be clearly distinguishable as such on photocopies. Statements
				shall be in the English language and monetary values shall be stated in United
				States currency. If any exhibit or other paper or document filed with the statement
				is in a foreign language, it shall be accompanied by a translation into the English
				language, and any monetary value shown in a foreign currency normally shall be
				converted into United States currency.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-4 - Forms - Incorporation by Reference, Summaries and Omissions

Current through Register Vol. XLI, No. 28, July 12, 2024
4.1. Information
				required by any item of Form A, Form B, Form D, Form E or Form F may be incorporated
				by reference in answer or partial answer to any other item. Information contained in
				any financial statement, annual report, proxy statement, statement filed with a
				governmental authority, or any other document may be incorporated by reference in
				answer or partial answer to any item of Form A, Form B, Form D, Form E or Form F
				provided the document is filed as an exhibit to the statement. Excerpts of documents
				may be filed as exhibits if the documents are extensive. Documents currently on file
				with the Commissioner which were filed within three (3) years need not be attached
				as exhibits. References to information contained in exhibits or in documents already
				on file shall clearly identify the material and shall specifically indicate that the
				material is to be incorporated by reference in answer to the item. Matter shall not
				be incorporated by reference in any case where the incorporation would render the
				statement incomplete, unclear or confusing.
4.2. Where an item requires a summary or outline
				of the provisions of any document, only a brief statement shall be made as to the
				pertinent provisions of the document. In addition to the statement, the summary or
				outline may incorporate by reference particular parts of any exhibit or document
				currently on file with the Commissioner which was filed within three (3) years and
				may be qualified in its entirety by such reference. In any case where two (2) or
				more documents required to be filed as exhibits are substantially identical in all
				material respects except as to the parties thereto, the dates of execution, or other
				details, a copy of only one of the documents need be filed with a schedule
				identifying the omitted documents and setting forth the material details in which
				the documents differ from the documents, a copy of which is filed.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-5 - Forms - Information Unknown or Unavailable and Extension of Time to Furnish

Current through Register Vol. XLI, No. 28, July 12, 2024
5.1. If it is
				impractical to furnish any required information, document or report at the time it
				is required to be filed, there shall be filed with the Commissioner, as a separate
				document:
5.1.a. Identifying the information,
				document or report in question;
5.1.b.
				Stating why the filing thereof at the time required is impractical; and
5.1.c. Requesting an extension of time for filing
				the information, document or report to a specified date. The request for extension
				shall be deemed granted unless the Commissioner within sixty (60) days after receipt
				thereof enters an order denying the request.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-6 - Forms - Additional Information and Exhibits

Current through Register Vol. XLI, No. 28, July 12, 2024
6.1.
				In addition to the information expressly required to be included in Form A, Form B,
				Form C, Form D, Form E and Form F the Commissioner may request such further material
				information, if any, as may be necessary to make the information contained therein
				not misleading. The person filing may also file such exhibits as it may desire in
				addition to those expressly required by the statement. The exhibits shall be marked
				to indicate clearly the subject matters to which they refer. Changes to Forms A, B,
				C, D, E or F shall include on the top of the cover page the phrase: "Change No.
				(INSERT NUMBER) to" and shall indicate the date of the change and not the date of
				the original filing.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-7 - Subsidiaries of Domestic Insurers

Current through Register Vol. XLI, No. 28, July 12, 2024
7.1. The
				authority to invest in subsidiaries under W. Va. Code §
									33-27-2 a(b) is in
				addition to any authority to invest in subsidiaries which may be contained in any
				other provision of the Insurance Code.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-8 - Acquisition of Control - Statement Filing

Current through Register Vol. XLI, No. 28, July 12, 2024
8.1. A person required to file a statement
				pursuant to W. Va. Code §
									33-27-3
				shall furnish the required information on Form A and on Form E.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-9 - Amendments to Form A

Current through Register Vol. XLI, No. 28, July 12, 2024
9.1. The applicant shall
				promptly advise the Commissioner of any changes in the information furnished on Form
				A arising subsequent to the date upon which the information was furnished but prior
				to the Commissioner's disposition of the application.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-10 - Acquisition of W. Va. Code Section 33-27-3(a)(4) Insurers

Current through Register Vol. XLI, No. 28, July 12, 2024
10.1. If the person being acquired is considered
				to be a "domestic insurer" solely because of the provisions of W. Va. Code §
									33-27-3(a)(4),
				the name of the domestic insurer on the cover page should be indicated as follows:
"ABC Insurance Company, a subsidiary of XYZ Holding
				  Company."
10.2. Where a W. Va.
				Code §
									33-27-3(a)(4)
				insurer is being acquired, references to "the insurer" contained in Form A shall
				refer to both the domestic subsidiary insurer and the person being
				acquired.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-11 - Pre-Acquisition Notification

Current through Register Vol. XLI, No. 28, July 12, 2024
If a domestic insurer, including any person controlling a domestic
				  insurer, is proposing a merger or acquisition pursuant to W. Va. Code §
									33-27-3(a)(1),
				  that person shall file a pre-acquisition notification form, Form E.
Additionally, if a non-domiciliary insurer licensed to do business
				  in this state is proposing a merger or acquisition pursuant to W. Va. Code §
									33-27-3
				  a, that person shall file a pre-acquisition notification form, Form E. No
				  pre-acquisition notification form need be filed if the acquisition is beyond the
				  scope of W. Va. Code §
									33-27-3
				  a, as set forth in W. Va. Code §
									33-27-3
				  a(b)(2).
In addition to the information required by Form E, the
				  Commissioner may require an expert opinion as to the competitive impact of the
				  proposed acquisition.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-12 - Annual Registration of Insurers - Statement Filing

Current through Register Vol. XLI, No. 28, July 12, 2024
12.1. An insurer required to file an annual
				registration statement pursuant to W. Va. Code §
									33-27-4
				shall furnish the required information on Form B.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-13 - Summary of Registration - Statement Filing

Current through Register Vol. XLI, No. 28, July 12, 2024
13.1. An insurer required to file an annual
				registration statement pursuant to W. Va. Code §
									33-27-4
				is also required to furnish information required on Form C.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-14 - Amendments to Form B

Current through Register Vol. XLI, No. 28, July 12, 2024
14.1. An amendment to
				Form B shall be filed within fifteen (15) days after the end of any month in which
				there is a material change to the information provided in the annual registration
				statement.
14.2. Amendments shall be
				filed in the Form B format with only those items which are being amended reported.
				Each amendment shall include at the top of the cover page "Amendment NO. [INSERT
				NUMBER] to Form B for [INSERT YEAR]" and shall indicate the date of the change and
				not the date of the original filings.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-15 - Alternative and Consolidated Registrations

Current through Register Vol. XLI, No. 28, July 12, 2024
15.1. Any authorized insurer may file a
				registration statement on behalf of any affiliated insurer or insurers which are
				required to register under W. Va. Code §
									33-27-4.
				A registration statement may include information not required by statute regarding
				any insurer in the insurance holding company system even if the insurer is not
				authorized to do business in this state. In lieu of filing a registration statement
				on Form B, the authorized insurer may file a copy of the registration statement or
				similar report which it is required to file in its state of domicile, provided:
15.1.a. The statement or report contains
				substantially similar information required to be furnished on Form B; and
15.1.b. The filing insurer is the principal
				insurance company in the insurance holding company system.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-16 - Disclaimers and Termination of Registration

Current through Register Vol. XLI, No. 28, July 12, 2024
16.1. A disclaimer of affiliation or a request for
				termination of registration claiming that a person does not, or will not upon the
				taking of some proposed action, control another person (hereinafter referred to as
				the "subject") shall contain the following information:
16.1.a. The number of authorized, issued and
				outstanding voting securities of the subject;
16.1.b. With respect to the person whose control
				is denied and all affiliates of that person, the number and percentage of shares of
				the subject's voting securities which are held of record or known to be beneficially
				owned, and the number of such shares concerning which there is a right to acquire,
				directly or indirectly;
16.1.c. All
				material relationships and bases for affiliation between the subject and the person
				whose control is denied and all affiliates of that person; and
16.1.d. A statement explaining why the person
				should not be considered to control the subject.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-17 - Transactions Subject to Prior Notice - Notice Filing

Current through Register Vol. XLI, No. 28, July 12, 2024
17.1. An insurer required to give notice of a
				proposed transaction pursuant to W. Va. Code §
									33-27-5
				shall furnish the required information on Form D.
17.2. Agreements for cost-sharing services and
				management services shall at a minimum and as applicable:
17.2.a. Identify the person providing services and
				the nature of such services;
17.2.b. Set
				forth the methods to allocate costs;
17.2.c. Require timely settlement, not less
				frequently than on a quarterly basis, and compliance with the requirements in the
				Accounting Practices and Procedures Manual;
17.2.d. Prohibit advancement of funds by the
				insurer to the affiliate except to pay for services defined in the
				agreement;
17.2.e. State that the
				insurer will maintain oversight for functions provided to the insurer by the
				affiliate and that the insurer will monitor services annually for quality
				assurance;
17.2.f. Define books and
				records of the insurer to include all books and records developed or maintained
				under or related to the agreement;
17.2.g. Specify that all books and records of the
				insurer are and remain the property of the insurer and are subject to control of the
				insurer;
17.2.h. State that all funds
				and invested assets of the insurer are the exclusive property of the insurer, held
				for the benefit of the insurer and are subject to the control of the
				insurer;
17.2.i. Include standards for
				termination of the agreement with and without cause;
17.2.j. Include provisions for indemnification of
				the insurer in the event of gross negligence or willful misconduct on the part of
				the affiliate providing the services;
17.2.k. Specify that, if the insurer is placed in
				receivership or seized by the Commissioner under W. Va. Code §
										33-10-1
et
				seq
:
17.2.k.1. All of the rights of the
				insurer under the agreement extend to the receiver or Commissioner; and
17.2.k.2. All books and records will immediately
				be made available to the receiver or the Commissioner, and shall be turned over to
				the receiver or Commissioner immediately upon the receiver or the Commissioner's
				request;
17.2.l. Specify that
				the affiliate has no automatic right to terminate the agreement if the insurer is
				placed in receivership pursuant to W. Va. Code §
										33-10-1
et
				seq
.; and
17.2.m. Specify that
				the affiliate will continue to maintain any systems, programs, or other
				infrastructure notwithstanding a seizure by the Commissioner under W. Va. Code
				§
										33-10-1
et
				seq
. and will make them available to the receiver, for so long as the
				affiliate continues to receive timely payment for services rendered.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-18 - Enterprise Risk Report

Current through Register Vol. XLI, No. 28, July 12, 2024
The ultimate controlling person of an insurer required to file an
				  enterprise risk report pursuant to W. Va. Code §
									33-27-4
				  (
l
) shall furnish the required information on Form F; the
				  requirement to file an enterprise risk report shall take effect on July 1,
				  2013.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-19 - Extraordinary Dividends and Other Distributions

Current through Register Vol. XLI, No. 28, July 12, 2024
19.1. Requests for approval of extraordinary
				dividends or any other extraordinary distribution to shareholders shall include the
				following:
19.1.a. The amount of the proposed
				dividend;
19.1.b. The date established
				for payment of the dividend;
19.1.c. A
				statement as to whether the dividend is to be in cash or other property and, if in
				property, a description thereof, its cost, and its fair market value together with
				an explanation of the basis for valuation of the property;
19.1.d. A copy of the calculations determining
				that the proposed dividend is extraordinary. The work paper shall include the
				following information:
19.1.d.1. The amounts, dates
				and form of payment of all dividends or distributions (including regular dividends
				but excluding distributions of the insurer's own securities) paid within the period
				of twelve (12) consecutive months ending on the date fixed for payment of the
				proposed dividend for which approval is sought and commencing on the day after the
				same day of the same month in the last preceding year;
19.1.d.2. Surplus as regards policyholders (total
				capital and surplus) as of the 31st day of December next preceding;
19.1.d.3. If the insurer is a life insurer, the
				net gain from operations for the twelve (12) month period ending the 31st day of
				December next preceding;
19.1.d.4. If
				the insurer is not a life insurer, the net income less realized capital gains for
				the twelve (12) month period ending the 31st day of December next preceding and the
				two (2) preceding twelve (12) months periods; and
19.1.d.5. If the insurer is not a life insurer,
				the dividends paid to stockholders excluding distributions of the insurer's own
				securities in the preceding two (2) calendar years;
19.1.e. A balance sheet and statement of income
				for the period intervening from the last annual statement filed with the
				Commissioner and the end of the month preceding the month in which the request for
				dividend approval is submitted; and
19.1.f. A brief statement as to the effect of the
				proposed dividend upon the insurer's surplus and the reasonableness of the surplus
				in relation to the insurer's outstanding liabilities and the adequacy of surplus
				relative to the insurer's financial needs.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Section 114-35-20 - Adequacy of Surplus

Current through Register Vol. XLI, No. 28, July 12, 2024
20.1. The factors
				set forth in W. Va. Code §
									33-27-5(b)
				are not intended to be an exhaustive list. In determining the adequacy of the
				reasonableness of an insurer's surplus, no single factor is necessarily controlling.
				The Commissioner, instead, will consider the net effect of all of these factors plus
				other factors bearing on the financial condition of the insurer. In comparing the
				surplus maintained by other insurers, the Commissioner will consider the extent to
				which each of these factors varies from company to company and in determining the
				quality and liquidity of investments in subsidiaries, the Commissioner will consider
				the individual subsidiary and may discount or disallow its valuation to the extent
				that the individual investments warrant.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-35 - Insurance Holding Company Systems › Appendix E

Current through Register Vol. XLI, No. 28, July 12, 2024
FORM E
PRE-ACQUISITION NOTIFICATION FORM
REGARDING THE POTENTIAL COMPETITIVE IMPACT
OF A PROPOSED MERGER OR ACQUISITION BY A
NON-DOMICILIARY INSURER DOING BUSINESS IN THIS
STATE OR BY A DOMESTIC INSURER
___________________________________
Name of Applicant
___________________________________
Name of Other Person
Involved in Merger or
Acquisition
Filed with the Insurance Department of
______________________________________________________________________________
Dated:__________________________, 20 _______________
Name, title, address and telephone number of person completing
				  this statement:
ITEM 1. NAME AND ADDRESS
State the names and addresses of the persons who hereby provide
				  notice of their involvement in a pending acquisition or change in corporate
				  control.
ITEM 2. NAME AND ADDRESSES OF AFFILIATED
				  COMPANIES
State the names and addresses of the persons affiliated with those
				  listed in Item 1. Describe their affiliations.
ITEM 3. NATURE AND PURPOSE OF THE PROPOSED MERGER OR
				  ACQUISITION
State the nature and purpose of the proposed merger or
				  acquisition.
ITEM 4. NATURE OF BUSINESS
State the nature of the business performed by each of the persons
				  identified in response to Item 1 and Item 2.
ITEM 5. MARKET AND MARKET SHARE
State specifically what market and market share in each relevant
				  insurance market the persons identified in Item 1 and Item 2 currently enjoy in this
				  state. Provide historical market and market share data for each person identified in
				  Item 1 and Item 2 for the past five years and identify the source of such data.
				  Provide a determination as to whether the proposed acquisition or merger, if
				  consummated, would violate the competitive standards of the state as stated in W.
				  Va. Code §
									33-27-3
				  a(d). If the proposed acquisition or merger would violate competitive standards,
				  provide justification of why the acquisition or merger would not substantially
				  lessen competition or create a monopoly in the state.
For purposes of this question, market means direct written
				  insurance premium in this state for a line of business as contained in the annual
				  statement required to be filed by insurers licensed to do business in this
				  state.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-36 - West Virginia Life And Health Guaranty Association Act Notice Requirments › Section 114-36-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. -- This rule
				applies to Member Insurers and their agents that provide insurance coverage for
				direct, nongroup life, health, annuity and supplemental policies or contracts, for
				certificates under direct group policies and contracts, for unallocated annuity
				contracts and for structured settlement annuities to those persons specified in W.
				Va. Code §
									33-26A-3(a).
1.2. Authority. -- W. Va. Code §§
									33-26A-19
				and
				33-2-10.
1.3. Filing Date. -- April 14, 2010.
1.4. Effective Date. -- April 14, 2010.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-36 - West Virginia Life And Health Guaranty Association Act Notice Requirments › Section 114-36-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. "Commissioner"
				means the Insurance Commissioner of the State of West Virginia.
2.2. "Disclaimer" means the written notice
				required to be placed on the face of the Summary Document pursuant to W. Va. Code
				§
									33-26A-19(c).
2.3. "Member Insurer" means any insurer licensed
				or which holds a certificate of authority to transact in this state any kind of
				insurance for which coverage is provided under W. Va. Code § 33-29A-3, and
				includes any insurer whose license or certificate of authority in this state may
				have been suspended, revoked, not renewed or voluntarily withdrawn, and includes
				nonprofit service corporations as defined in article twenty-four of this chapter and
				health care corporations as defined in W. Va. Code §
									33-25-1 et seq.:
				Provided, That the term "member insurer" does not include a health maintenance
				organization, a fraternal benefit society, a mandatory state pooling plan, a mutual
				assessment company, any entity that operates on an assessment basis, an insurance
				exchange, an organization that has a certificate or license limited to the issuance
				of charitable gift annuities pursuant to W. Va. Code §
									33-13B-1 et seq., or any
				other similar entity.
2.4. "Notice"
				means the document set forth in Appendix B of this rule entitled "NOTICE OF
				NON-COVERAGE." The Notice comprises the non-coverage notice required by W. Va. Code
				§
									33-26A-19(d).
2.5. "Policy or Contract" means the following
				types of policies or contracts issued by a Member Insurer to persons described in W.
				Va. Code §
									33-26A-3(a):
2.5.a. Direct nongroup life insurance, health
				insurance, annuities and supplemental policies or contracts;
2.5.b. Certificates under direct group life
				insurance policies, health insurance policies, or annuity contracts; or
2.5.c. Unallocated annuity contracts.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-36 - West Virginia Life And Health Guaranty Association Act Notice Requirments › Appendix B

Current through Register Vol. XLI, No. 28, July 12, 2024
NOTICE OF NON-COVERAGE
(Effective July 10,
						  2009)
The West Virginia Life and Health Insurance Guaranty Association
				  provides coverage of claims under some types of policies if the insurer becomes
				  impaired or insolvent.
THE POLICY OR CONTRACT YOU ARE PURCHASING IS
NOT
COVERED BY THE WEST VIRGINIA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION.
If the company providing this policy or contract is unable to meet
				  its obligation by reason of insolvency or financial impairment, the West Virginia
				  Life and Health Insurance Guaranty Association will not be available to protect the
				  policy or contract holder or his/her beneficiaries, payees or assignees.
If you have any questions concerning this Notice, you may
				  contact:
West Virginia Life and Health Insurance Guaranty
				  Association
P.O. Box 816
Huntington, West Virginia 25712
or
West Virginia Insurance Commissioner
Consumer Services Division
1124 Smith Street, Rm 309
P.O. Box 50540
Charleston, West Virginia 25305-0540
(304) 558-3386
Toll Free 1-888-879-9842
TDD 1-800-435-7381
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-37 - Substandard Risk Motor Vehicle Insurance Notice › Section 114-37-1 - General

Current through Register Vol. XLI, No. 28, July 12, 2024
1.1. Scope. -- This
				legislative rule implements the provisions of West Virginia Code '33-6-31c
				requiring a written notification on automobile insurance applications and policies
				written on substandard risks, and a written notification to substandard risk
				applicants and insureds regarding eligibility for coverage under a standard or
				preferred policy. This rule sets forth the format, style, design and method for
				approval of substandard risk insurance applications, policies, and notices, and any
				additional procedures required.
1.2.
				Authority. -- W. Va. Code '33-6-31c.
1.3. Filing Date. -- April 2, 1996.
1.4. Effective Date. -- April 2, 1996.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-37 - Substandard Risk Motor Vehicle Insurance Notice › Section 114-37-2 - Applicability

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. Applicability. --
				This legislative rule applies to all insurers writing motor vehicle liability
				insurance in this State if the rate or premium charged for the motor vehicle
				liability coverage reflects a greater than normal exposure to loss which is assumed
				by an insurer writing insurance for a substandard risk. The notification provisions
				apply to all motor vehicle liability policies covering substandard risks issued on
				or after the effective date of this rule, all motor vehicle liability insurance
				applications covering substandard risks taken on or after the effective date of this
				rule, and all notices to substandard risk policyholders of eligibility for coverage
				under a standard or preferred policy arising on or after the effective date of this
				rule.
2.2. This legislative rule applies
				to insurance companies writing motor vehicle liability insurance coverage through
				the assigned risk plan ("AIPSO").
2.3.
				This legislative rule applies to insurance companies that write only one tier of
				motor vehicle liability insurance business if the rate or premium charged for such
				coverage reflects the greater than normal exposure to loss which is assumed by the
				insurer writing insurance for a substandard risk.
2.4. The provisions of this legislative rule do
				not apply to insurance policies issued or applications taken for commercial
				automobile liability insurance.
West Virginia Code of State Rules › Agency 114 - Insurance Commission › Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER › Series 114-37 - Substandard Risk Motor Vehicle Insurance Notice › Section 114-37-3 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
The following words and terms, when used in this rule, have the
				  following meanings, unless the context clearly indicates otherwise:
3.1. "Application" means a printed form used by an
				insurance company which includes questions about a prospective insured and the
				desired insurance coverage and limits. It provides the insurer's underwriter with
				information for accepting or rejecting the prospective insured and rating the
				desired policy.
3.2. "Commissioner"
				means the Insurance Commissioner of the State of West Virginia.
3.3. "Contrasting Color" means a color strikingly
				dissimilar to the color of the other text and background as to produce an
				intensified effect that is easily readable and draws the attention of the
				reader.
3.4. "Form Filing" means a
				filing of the application and first page of the policy bearing the imprint of the
				specified statement submitted to the Commissioner for prior approval in accordance
				with W. Va. Code '33-6-8.
3.5. "Policy" is the form setting forth the
				automobile insurance declarations, insuring agreements, conditions and exceptions,
				often bound by a policy jacket.
3.6.
				"Reverse Print" means white text on a black background as to produce an intensified
				effect that is easily readable and draws the attention of the reader.
3.7. "State" means the State of West
				Virginia.
3.8. "Substandard Risk
				Insurance Application Notice" means the written notice required by W. Va. Code
				'33-6-31c(b).
3.9. "Substandard Risk Insurance Policy Notice"
				means the written notice required by W. Va. Code '33-6-31c(c).
3.10 ."Substandard Risk" means an applicant for
				insurance who presents a greater exposure to loss than that contemplated by commonly
				used rate classifications, as evidenced by one or more of the following conditions:
(A) A record of traffic accidents;
(B)A record of traffic law violations;
(C)Undesirable occupational circumstances;
				or
(D)Any other valid underwriting
				consideration.