Trusteed Reinsurer Renewal

Trusteed Reinsurer Annual Filing Requirements:

‘Renewal’ of recognition:  Trusteed Reinsurer recognitions are issued on a ‘perpetual’ rather than ‘annual’ basis, subject to fulfillment of annual filing requirements each year.

Annual filing requirements for Trusteed Reinsurers:

1.     Per TCA § 56-2-208(b)(5)(A), “… Report annually…” the “(NAIC) annual statement form…”

         Per TCA § 56-2-208(b)(5)(E), “… No later than February 28 of each year…” the trustee certification.

         These items must be submitted electronically via PDFs to company.licensing@tn.gov .

2.     Per TCA § 56-4-101(a)(4), “For each company's annual statement, five hundred fifteen dollars ($515).”

         OPTINS FILING REQUIREMENTS: The Insurance Division of the Tennessee Department of Commerce and Insurance has implemented rules directing insurance companies to submit their premium tax returns and payments electronically through OPTins (Online Premium Tax for Insurance). Visit www.optins.org to set up an account to file and pay your annual fees electronically.  Make sure you are in the Tennessee Premium Tax section to submit the (fee) payment. If you need any help getting set up, contact OPTins help desk at 816-783-8500 or email optinshelp@naic.org. They are available from 7:00 am to 7:00 pm CST.

Note: The annual filing requirements are applicable to Trusteed Reinsurers that were recognized during the prior year (even as late as effective December 31^st).  If a Trusteed Reinsurer becomes initially recognized during this year (even as early as January 1^st), it will not be subject to these ‘annual filing requirements’ until the following year.

Feel free to direct any inquiries to company.licensing@tn.gov or to [company licensing analyst] phil.adams@tn.gov .