West Virginia Offices of the Insurance Commissioner 2009 Annual ...
West Virginia Offices of the Insurance Commissioner 2009 Annual ...
West Virginia Offices of the Insurance Commissioner 2009 Annual ...
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Rates and Forms Division<br />
The Rates and Forms Division review rate, rule, form and advertising filings (proposals) submitted by<br />
<strong>the</strong> licensed insurance companies for use in our insurance markets. All personal lines property and<br />
casualty product filings (such as for auto, workers’ compensation and homeowners insurance) as well<br />
as all accident and sickness products (such as health insurance and long term care insurance) must<br />
receive prior approval from <strong>the</strong> division before using <strong>the</strong> newly proposed forms or rates in our State.<br />
Similarly, all commercial lines property and casualty product filings (such as commercial auto or<br />
business owners policies) and all accident and sickness group association filings are also reviewed by<br />
<strong>the</strong> division within 30 days <strong>of</strong> <strong>the</strong> receipt <strong>of</strong> <strong>the</strong>ir filing and can be (and are) disapproved by <strong>the</strong><br />
division, although those products do not require approval prior to use in our marketplace.<br />
In <strong>2009</strong>, <strong>the</strong> Rates and Forms Division received and reviewed eight thousand five hundred and forty<br />
(8,540) rate, form and rule filings. Of <strong>the</strong> total number <strong>of</strong> filings received in <strong>2009</strong>, eight thousand<br />
three hundred and fifty seven (8,357) or 99% were submitted to <strong>the</strong> Rates and Forms Division via <strong>the</strong><br />
System for Electronic Rate and Form filing (SERFF). One hundred and fifty nine (159) were<br />
submitted by <strong>the</strong> Interstate <strong>Insurance</strong> Product Regulation Compact.<br />
<strong>2009</strong> Total Filings<br />
Total Filings 8,540<br />
% P&C <strong>of</strong> total filings 62.93%<br />
% L,A&H <strong>of</strong> total filings 37.07%<br />
# <strong>of</strong> Filings Amended before approval 221<br />
# <strong>of</strong> Filings Disapproved 17<br />
# <strong>of</strong> Filings Withdrawn 59<br />
Filing Fees $656,710<br />
<strong>2009</strong> Filings by Method<br />
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total<br />
Paper 3 4 5 8 1 0 6 1 0 1 0 0 29<br />
Compact 13 5 9 13 13 14 10 22 20 10 14 16 159<br />
SERFF 723 702 721 712 582 741 691 747 675 733 609 721 8,357<br />
Total 739 711 735 733 596 755 707 770 695 744 618 737 8,540<br />
% Paper .40% .56% .68% 1.09% 0.17% 0% .85% 0% 0% 0% 0% 0% 0.31%<br />
% Serff 99.6% 99.4% 99% 98.9% 99.8% 100% 99% 99% 100 99% 100 100 99.66%<br />
144
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