EXEMPTION FROM REVIEW AND APPROVAL OF CERTAIN LIFE, ACCIDENT, HEALTH AND ANNUITY FORMS AND EXPEDITION OF REVIEW
This bulletin provides information concerning the requirements of the referenced amended and new rules recently adopted by Commissioner Bomer to enhance the overall effectiveness and efficiency of the form filing and review process.
NEW FEATURES
The new filing requirements include several features to facilitate the insurer with filing forms properly the first time. These features include a Certification Form for use with certain submission types (Attachment 1), a Transmittal Checklist for Regular and General Review Process (Attachment 2), and a Transmittal Checklist for Expedited Review Process (Attachment 3).
The Certification Form is a multi-use form which contains all the required certifications and which allows the insurer to initial the certification that is applicable to the specific filing. This form is required by the rules for each filing. The Transmittal Checklists assist the insurer in meeting the General Submission Requirements, which include submitting the appropriate fee.
FILING FEES
The filing fees are as follows: (1) New Submissions - $100, (2) Exempt Forms - $50, and (3) Resubmissions and Withdrawn Forms - $50.
EXPEDITED REVIEW PROCESS
The Expedited Review Process is designed to shorten the time required for review and approval. This process requires the insurer to provide a summary of the differences between the form being submitted for review and the previously reviewed form. New or modified text must be underlined, but not highlighted.
This procedure will expedite the review process and eliminate unnecessary review of previously approved language. Filings which qualify for expedited review are as follows:
- Forms that are substantially similar to previously approved forms;
- Corrections to pending forms;
- Resubmissions of previously disapproved forms;
- Exempt forms;
- Exact copies of a previously approved form;
- Substitutions of previously approved forms; and
- Prototype forms.
All filings which qualify for expedited review are required to be filed with the Transmittal Checklist for Expedited Review, with the exception of forms which are substantially similar to previously approved forms.
EXEMPT FORMS
The list of exempt forms has been significantly expanded and a summary of exempt forms with exceptions (Attachment 4) is attached. An audit process has been added to monitor the appropriateness and effectiveness of the exemption provisions. The audits will be periodic, random, and targeted. Deficiencies will be communicated to the insurer with a request for corrective action.
ADOPTION OF RULES
The Filing Requirement rule and amendments to the Exemption rule were adopted with changes and published in the Texas Register on March 1, 1996. You may obtain copies of this publication or subscription information by contacting the Texas Register at 512-463-5561.
ORDERING COPIES
Paper and diskette copies of the rules, certification form, and transmittal checklists may be ordered by contacting the Life/Health Group, Administration Division, at 512-322-3401 or by faxed request at 512-322-3552. Diskette copies of the rules are $8.00 and are available in the following formats: Microsoft Word 2.0 or Microsoft Word 6.0.
After May 1, 1996, these rules and/or forms may be downloaded without fees from the TDI On-Line portion of the Windows on State Government Bulletin Board System. (Call 800-227-8392 or in Austin 475-1051.) It is expected that after June 1, 1996, you may obtain this information via the internet on TDI's World Wide Web Home Page.
LIFE/HEALTH GROUP CHECKLISTS
Checklists have been prepared by the Life, Annuity and Credit Division and the Accident and Health, Group Products Division as a resource to aid insurers in complying with Texas statutes and regulations. A listing of the various checklists (Attachment 5) is attached to enable you to select the checklist(s) that would be most helpful to you. All insurers are encouraged to use the checklists prior to the filing of any forms. To order any checklist(s), please contact the appropriate division at the number below.
If you have questions concerning this bulletin or the adopted rules, please contact the Life, Annuity and Credit Division, Mailcode 106-1E, Telephone 512-322-3406; Accident and Health, Group Products Division, Mailcode 106-1D, Telephone 512-322-3409; or the Filings Intake Division, Mailcode 106-1E, Telephone 512-322-4245.
Sincerely,
Tyrette Hamilton
Deputy Commissioner
Life/Health Group - MC106-1A
Attachments
- Certification Form
- Transmittal Checklist for Regular and General Review Process
- Transmittal Checklist for Expedited Review Process
- Summary of Exempt Forms with Exceptions
- Life/Health Group Checklists