210 Neb. Admin. Code, ch. 52, § 007

Current through September 17, 2024

Section 210-52-007 - Statistical reporting

Every insurance company licensed to transact the business of property and casualty insurance in this state shall report its insurance statistical experience to at least one of the statistical agents designated by the Director. Such information shall, at a minimum, be in the form and detail outlined below and specified in statistical plans filed with the Director.

007.01 Annual Data Reporting

Insurers shall submit annual data meeting the following specifications to a statistical agent:

007.01A Data Elements: In accordance with statistical plans filed with the Director and subject to the exceptions noted in subsection007.01B, annual data shall include the following elements:

007.01A(1) Premiums earned (Written premiums shall be reported when a statistical agent uses written premiums to calculate earned premiums.);

007.01A(2) Losses paid;

007.01A(3) Allocated loss adjustment expenses paid;

007.01A(4) Losses outstanding; and

007.01A(5) Allocated loss adjustment expenses outstanding.

007.01B Lines of Insurance: The following lines of insurance shall be included in annual data:

007.01B(1) Private Passenger Automobile Liability;

007.01B(2) Commercial Automobile Liability;

007.01B(3) Private Passenger Automobile Physical Damage (exceptions: outstanding losses; allocated loss adjustment expenses paid and outstanding);

007.01B(4) Commercial Automobile Physical Damage (exceptions: outstanding losses; allocated loss adjustment expenses paid and outstanding);

007.01B(5) Boiler and Machinery (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(6) Burglary (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(7) Fire and Extended Coverage (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(8) Inland Marine (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(9) Glass (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(10) Commercial Multiple Peril (Losses may be split into their respective monoline components. The exceptions applying would then be those applying to the components. If losses are collected on an aggregated basis subject to a minimum statistical plan, then allocated loss adjustment expenses paid and outstanding may be excepted);

007.01B(11) Insurance on Growing Crops (only premiums earned and losses paid or incurred need be recorded);

007.01B(12) Farmowners (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(13) Homeowners (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(14) Fidelity and Surety (exceptions: allocated loss adjustment expenses paid and outstanding);

007.01B(15) General Liability;

007.01B(16) Medical Professional Liability;

007.01B(17) Products Liability;

007.01B(18) Credit (only premiums written and losses paid need to be recorded); and

007.01B(19) Workers Compensation (exceptions: allocated loss adjustment expenses paid and outstanding).

007.01C Annual data shall include, in addition to the 19 lines specified in subsection 007.01B, those classes of liability insurance designated in subsection 007.03A1 as subject to accelerated reporting.

007.01D Compilation Bases: Annual data shall be reported according to one of the following compilation bases:

007.01D(1) Calendar year;

007.01D(2) Accident year; or

007.01D(3) Policy year.

007.01E Insurers shall submit data in accordance with filing deadlines established by various statistical agents. No statistical agent shall establish a deadline more than nine months after the expiration of the calendar, accident or policy year.

007.01F Statistical agents shall provide annual reports of information collected pursuant to this subsection within 18 months of the expiration of the calendar, accident or policy year.

007.02 Fast Track Data and Reports

007.02A Fast Track Data: Data necessary to produce Fast Track reports shall be submitted to statistical agents by selected insurers within forty-five (45) days of the close of the calendar quarter according to the following specifications:

007.02A(1) Lines and Classes; Loss Ratio Data: Selected insurers shall submit Fast Track quarterly premium and loss data to statistical agents for the following lines:

007.02A(1)(a) Private Passenger Liability;

007.02A(1)(b) Private Passenger Physical Damage;

007.02A(1)(c) Commercial Auto Liability;

007.02A(1)(d) Commercial Auto Physical Damage;

007.02A(1)(e) Homeowners;

007.02A(1)(f) Dwelling Fire;

007.02A(1)(g) Dwelling Allied Lines;

007.02A(1)(h) Commercial Fire;

007.02A(1)(i) Commercial Allied Lines;

007.02A(1)(j) Farm Business;

007.02A(1)(k) Commercial Multiple Peril;

007.02A(1)(l) Liability Other than Auto; and

007.02A(1)(m) Medical Malpractice.

007.02A(2) Lines and Classes; Claim Data: Fast Track data shall contain claim frequency and claim severity data for the following lines:

007.02A(2)(a) Private Passenger Comprehensive;

007.02A(2)(b) Private Passenger Collision;

007.02A(2)(c) Private Passenger Bodily Injury Liability; and

007.02A(2)(d) Private Passenger Property Damage Liability.

007.02B Fast Track Reports: Statistical agents shall provide Fast Track reports within sixty (60) days of the close of the calendar quarter for the private passenger automobile and homeowners lines of insurance. Fast Track reports for other lines of business shall be provided within seventy-five (75) days of the close of the calendar quarter.

007.03 Accelerated Data and Reports

007.03A Accelerated Data: Data necessary to produce accelerated reports shall be submitted to statistical agents by participating insurers within sixty days (60) of the close of the calendar quarter. The data submitted for accelerated reports shall include the following lines and classes and data elements:

007.03A(1) Lines and Classes:

007.03A(1)(a) Owners, Landlords and Tenants Liability;

007.03A(1)(b) Manufacturers and Contractors Liability;

007.03A(1)(c) Products Liability (countrywide only);

007.03A(1)(d) Premises/Operations Liability;

007.03A(1)(e) Lawyers Professional Liability;

007.03A(1)(f) Municipal Liability;

007.03A(1)(g) Public School Liability; and

007.03A(1)(h) Day Care Liability.

007.03A(2) Data Elements:

007.03A(2)(a) Direct premiums written;

007.03A(2)(b) Direct premiums earned; and

007.03A(2)(c) Incurred losses, developed as the sum of the following:

- the dollar amount of paid losses;

- the dollar amount of allocated loss adjustment expenses, plus

- reserves for reported claims at the end of the quarter, minus

- reserves for reported claims at the beginning of the quarter.

007.03B Accelerated Reports: Statistical agents shall provide accelerated reports to the Director within 180 days of the close of the calendar quarter.

007.04 Insurer Compliance

007.04A Statistical agents shall adopt edit procedures to screen data for reasonableness and apparent accuracy. Annual data shall be balanced against applicable annual statement entries showing Nebraska-specific and countrywide data for direct premiums and losses. Statistical agents shall attempt to reconcile discrepancies and shall not include data in their statistical reports to the Director where any such discrepancies have not been reasonably resolved.

007.04B All statistical reports made by statistical agents pursuant to this section shall contain a list of all insurers whose data is included. In addition, if data from an insurer that should have had their data included is, in fact, not included, then a separate listing of these insurers shall also be made with the statistical report.

007.04C For each insurer whose data has been omitted from a statistical report, the statistical agent shall provide reasons for the exclusion to the Director. These reasons, which shall be held confidential by the Director, shall be identified as one of the following:

007.04C1 Failed to meet statistical agent reporting deadlines;

007.04C2 Failed to pass edits for reasonableness and apparent accuracy; or

007.04C3 Other (specify reason for exclusion).

007.04D In reviewing reports made under subsections 007.04A, B, and C, the Director shall give due consideration to the following factors:

(a) The frequency with which an insurer has made apparently unacceptable data reports;

(b) The standards of the statistical agent which the insurer failed; that is, whether the insurer's data would have been acceptable under standards employed by other statistical agents;

(c) Whether errors or omissions were due to human or machine error, or whether they indicated a lack of regard by the insurer in maintaining accuracy and completeness in their data submissions; and

(d) Whether the insurer has taken effective steps to minimize the recurrence of such errors and omissions.

210 Neb. Admin. Code, ch. 52, § 007