375.041. Annual statement convention blank to be filed with NAIC, exception — dissemination of data not to create civil liability — failure to file, effect.

444 words·~2 min read·/mo/chapter-375/375-041

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

375.041. Annual statement convention blank to be filed with NAIC, exception — dissemination of data not to create civil liability — failure to file, effect. — 1. The provisions of this section shall apply to all domestic, foreign and alien insurers who are authorized to transact business in this state, and shall also apply to those companies organized and authorized to transact business in this state pursuant to the provisions of chapter 354 , 377 , 378 or 381 .

2. Each domestic, foreign and alien insurer who is authorized to transact insurance in this state, and each company organized and authorized to transact business in this state pursuant to the provisions of chapter 354 , 377 , 378 or 381 , shall annually, on or before March first of each year, file with the National Association of Insurance Commissioners a copy of its annual statement convention blank, along with such additional filings as prescribed by the director of the department of commerce and insurance for the preceding year.

The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the director of the department of commerce and insurance and shall include the signed jurat page and the actuarial certification. Any amendments and addendums to the annual statement filing subsequently filed with the director of the department of commerce and insurance shall also be filed with the National Association of Insurance Commissioners.

Foreign insurers that are domiciled in a state which has a law substantially similar to this subsection shall be deemed in compliance with this subsection.

3. In the absence of actual malice, or gross negligence, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees and task forces, their delegates, National Association of Insurance Commissioners' 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 acting as agents of the director of the department of commerce and insurance under the authority of this section and shall not be subject to civil liability for libel, slander or any other cause of action by virtue of their collection, review and analysis or dissemination of the data and information collected from the filings required under this section.

4. The director of the department of commerce and insurance 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 director, for good cause, may have granted.

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(L. 1985 S.B. 329, A.L. 1992 H.B. 1574)