![]() ![]() ![]() Please select the topic below that best matches your question. Risk Retention Group – Notice and Registrationįor additional information e-mail Matthew Mancini at the Massachusetts Division of Insurance at. Supplement to the NAIC Uniform Group Registration Form for Registration as a Risk Retention Group Risk Retention Group Annual Registration Application Form The following Renewal Application documents will be mailed to each RRG in the summer of each year. RRGs are not required to file quarterly statements with the Commonwealth of Massachusetts, Division of Insurance. However, if the RRG files its annual statement with the NAIC it is only required to submit a signed Jurat Page on or before March 1 (or later date if granted an extension by its state of domicile). In addition RRGs are required to file NAIC Biographical Affidavits with the Commonwealth of Massachusetts, a revised Massachusetts Checklist, and any other additional information required by the Commonwealth of Massachusetts. RRGs are governed by their state of domicile and are generally required to file with Massachusetts whatever documents are required by their state of domicile. The required Workers’ Compensation deposit for these companies is $50,000.00.Īll foreign insurers authorized for Workers’ Compensation in Massachusetts that have an AM Best Rating of “B++” or lower are required to file a Workers’ Compensation Schedule C-1 and are required to maintain a Workers’ Compensation deposit in accordance with the calculation in the Workers’ Compensation Schedule C-1. WORKERS’ COMPENSATION SCHEDULE C-1 and WORKERS’ COMPENSATION DEPOSITSĪll foreign insurers authorized for Workers’ Compensation in Massachusetts that have an AM Best Rating of “A-“ or higher are not required to file a Workers’ Compensation Schedule C-1 and are not required to maintain a Workers’ Compensation deposit in accordance with the calculation in the Workers’ Compensation Schedule C-1. For a list of Licensed and/or Approved Companies in Adobe click here, for Microsoft Excel click here.ĭomestic Insurance Companies that would like to request Certificates of Compliance to be effective Janushould email their request to Amy Blue at the ANNUAL STATEMENT EMAIL ADDRESS (see above). In addition, any company that neglects to file in the proper form, and by the date required, may be required to cease writing new business as long as the filing deficiency continues.Ĭredit for reinsurance must be recorded in accordance with the provisions of M.G.L. Chapter 175, Section 26, provides for a penalty of $100 per day if the Annual Statement, or any other related filings, are not received in the proper form and by the date required. LICENSE RENEWAL & FILING FEE PAYMENT MAILING ADDRESSĬhecks are to be made payable to the Commonwealth of Massachusetts Division of Insurance and mailed with a completed Lock Box and License Renewal Application Form (if applicable) to:Īnnual Filing Fee / Company License RenewalĪNNUAL STATEMENT FILING EMAIL address is to be used for regulatory filings except payments, lock box forms, and license renewal applications. All schedules must be securely attached to the appropriate pages or bound separately.Īll required Annual Statements must be subscribed and sworn before a notary by at least two principal officers of the company. The required checklist for each company type specifies the filing dates for all required filings with the Commonwealth of Massachusetts. Unless otherwise indicated, all filings must comply with 2022 NAIC Annual Statement Instructions for your type of company, including any required quarterly filings and the NAIC’s Accounting Practices and Procedures Manual.įor any questions or information regarding filing with the NAIC, the 2022 NAIC Annual Statement Instructions, or the NAIC’s Accounting Practices and Procedures Manual, please refer to the NAIC website. This notice contains instructions for filing the 2022 Annual Statement with the Commonwealth of Massachusetts, Division of Insurance. Read this notice and all referenced instructions, checklists and notes carefully before proceeding with the filing. ![]() Please be advised that there have been changes to these instructions from the prior year. A free copy of the Reader may be downloaded from the Adobe website. Adobe Acrobat Reader is required to view some of the documents on the Annual Statement Notice. ![]()
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