Current through Register Vol. 54, No. 49, December 7, 2024
Section 90i.2 - Filing of certificate form(a)Form filing required. A certificate of assumption form will be approved by the Insurance Department prior to issuance to a Pennsylvania policyholder or certificate holder. Insurance Department approval of the form will be in accordance with the following:(1) Section 354 of The Insurance Company Law of 1921 (40 P. S. § 477(b)).(2) Section 401 of the Fraternal Benefit Society Code (40 P. S. § 1141-401).(3) Section 7 of the Model Act for the Regulation of Credit Life Insurance and Credit Accident and Health Insurance (40 P. S. § 1007.7).(b)Form filing procedures. A filing for approval of a certificate or assumption form shall be made by the assuming insurer and include the following: (1) Two copies of the certificate of assumption being submitted for approval.(2) A duplicate letter of submission, including the following explanations:(i) The arrangement of the coverage assumption.(ii) Which parties will be issued the certificate of assumption.(c) Filings shall be directed to the attention of the Form Supervisor of either the Bureau of Life Insurance or Bureau of Accident and Health Insurance, as appropriate.(d) The Insurance Department will provide a review of certificate of assumption filings on a priority basis.