N.J. Admin. Code § 11:19-4.3

Current through Register Vol. 56, No. 11, June 3, 2024

Section 11:19-4.3 - ADAS filing requirements

(a) All domestic life/health insurance companies shall provide the Department with a report on the insurer's year end summary valuation on a CD-ROM in accordance with (b) through (d) below.

(b) All CD-ROM disc submissions shall be Windows compatible.

1. The CD-ROM disc file shall be a non-delimited ASCII text file with a carriage return or line feed as the last character of each record. The data shall not be in compressed format.

2. The filename for CD-ROM discs is to be named using the letter D followed by a letter representative of the company type, that is, L for L/H, F for Fraternal, etc., followed by the year (two digits). All filenames shall end with the ASCII extension (.ASC). The filename shall not exceed eight characters.

(c) All reports on an insurer's valuation data filed by domestic life/health insurance companies with the Department shall include the information and be submitted in the format set forth in the record layout in Appendices A and B to this subchapter which are incorporated in this rule by reference. Subject to prior approval by the Department, an insurer may submit data in a format which differs from the record layout in Appendix B to the extent that the data provided in some fields differs from that described in Appendix B. There can be no variation in the field length or start position. The report shall include the following information:

1. An external label shall be affixed to all CD-ROM(s) and shall include the following information:

i. The company's name, NAIC number, and year and quarter relating to the data submitted;

ii. The date when the CD-ROM was mailed; and

iii. The volume label (VOL), created using the DOS, shall consist of the volume sequence number (VQN) of the CD-ROM preceded by the first three characters of the file type; for example, "DUR 2 of 4".

2. The information on the external label(s) shall be displayed as follows:

NAME:
NAIC #:	YEAR:
DATE MAILED:	QUARTER:
VOL:	VQN:

3. A cover letter indicating the same information on the external labels shall also describe what certificate sections or types of insurance are included on the CD-ROM disc(s). The description shall be in sufficient detail so the Department may determine whether the valuation reports are complete;

4. A signed affidavit by two officers from the insurer which shall accompany all transmissions attesting to the accuracy of the information contained on the CD-ROM disc(s); and

5. The CD-ROM disc(s) must be received by February 15 for year end reports at the address listed below: New Jersey Department of Banking and Insurance

FEMS--Valuation and Statement Bureau

20 West State Street

PO Box 325

Trenton, New Jersey 08625-0325

i. If mailed, they shall be mailed in standard secure containers with a pre-addressed, prepaid return address label enclosed or attached.

ii. The box or container and any label thereto, shall be clearly and legibly printed or typed in capital letters.

(d) All reports on an insurer's valuation data filed by domestic life/health insurance companies with the FEMS--Valuation and Statement Bureau for the year-end reports shall include the following information:

1. All year-end submissions shall provide the duration level detail for all in force business;

(Reserved)

ii. A plan listing which provides, for each plan included in the valuation report, the plan code, a description of the plan, the valuation basis, the certificate line, and a description of the data contained in each field; and

iii. A complete summary of the company's year-end reserve valuation which identifies each reserve item by its appropriate actuarial bases and is consistent with the applicable Annual Statement reports, Exhibit 5 and 6 for the General Account and Exhibit 3 for Separate Accounts.

2. Insurers may treat blocks of business separately when submitting valuation reports to the Department. In order to make separate submissions, an insurer shall submit a plan describing how its blocks of business will be split and shall obtain the Commissioner's approval for the plan. The submission of separate blocks of business shall be in accordance with (b) above.

3. For year-end reports, each domestic life/health insurer shall submit a hard copy of the valuation report along with the CD-ROM filing.

N.J. Admin. Code § 11:19-4.3

Amended by R.1998 d.109, effective 2/17/1998.
See: 29 N.J.R. 5260(a), 30 N.J.R. 674(b).
In (a), removed third quarter report requirement; in (b), amended computer and diskette requirements; in (b)2, amended filename requirements; in (c)4, deleted "and/or factor deck submissions" in the second sentence, and deleted the last sentence; in (c)6, removed the third quarter report deadline and changed the address; rewrote (d); and in (e), deleted third quarter report requirement in 1, and deleted 2 through 4.
Amended by R.2008 d.327, effective 11/3/2008.
See: 40 N.J.R. 2400(a), 40 N.J.R. 6466(a).
In (a), substituted "CD-ROM" for "personal computer diskette, tape or cartridge" and "(d)" for "(e)"; rewrote the introductory paragraph of (b) and (b)2; in (b)1, substituted "CD-ROM disc" for "diskette"; in the introductory paragraph of (c)1, substituted "CD-ROM(s)" for "diskette(s)"; in (c)1ii and (c)1iii and (d)3, substituted "CD-ROM" for "diskette"; in (c)1ii, inserted "and" at the end"; in (c)1iii, substituted a period for "; and" at the end; deleted former (c)1iv and (c)2; recodified former (c)3 through (c)6 as (c)2 through (c)5; in (c)2, deleted entry "VSN:" from the first column of the table; in (c)3, (c)4 and in the introductory paragraph of (c)5, substituted "CD-ROM disc(s)" for "diskette(s), tape(s) or cartridge(s)"; in (d)1iii, substituted "Exhibit 5 and 6" for "Exhibit 8 and 9" and "Exhibit 3" for "Exhibit 6"; and deleted (e).
Expired Rule (effective 10/3/2015).
See: 47 N.J.R. 2379(a).
Section was "ADAS filing requirements".