Mississippi Administrative Code

Any advertisement, promotional material, sales literature or public announcement of insurance products must be filed with the Mississippi Insurance Department at least thirty (30) days prior to distribution or announcement. If, within thirty (30) days after filing, the Commission…

If any provision of any section of this regulation or the application thereof to any circumstance or insurance company, agent, agency or representative of same, nor any other person or entity, is held invalid, such invalidity shall not affect any other provision of that section o…

This Regulation is promulgated by the Commissioner of Insurance pursuant to authority granted by Mississippi Code of 1972, Annotated, Title 83, Chapter 53, Section 25(4) and Mississippi Code of 1972, Annotated, Title 83, Chapter 53, Section 29 and in accordance with the Mississip…

Mississippi Code of 1972, Annotated, Title 83, Chapter 53, Section 25(1) provides that "no one shall pay, accrue, credit or otherwise allow, either directly or indirectly, any compensation to any creditor, person, partnership, corporation, association or other entity in connectio…

Terms used herein shall be defined as follows: A. "Creditor" shall mean a creditor as defined in Mississippi Code of 1972, Annotated, Title 83, Chapter 53, Section 3(2)(d), any person or entity licensed as an agent to write credit insurance and any person, partnership, corporatio…

This Regulation shall apply to all insurers engaged in the business of writing credit insurance and the shareholders thereof, all credit insurance holding companies and the shareholders thereof, and all creditors. Notes 19 Miss. Code. R. 1-18.04 Miss. Code Ann. §§ 83-53-1; 83-5-3…

A. Insurers engaged in credit insurance operations and credit insurance holding companies affiliated in any way with any such insurer, may make corporate allocations for or to the benefit of any class or series of stock or other equity interest in such insurer or credit insurance…

Compensating balances and special deposit accounts by an insurer with a creditor through which the insurer issues credit insurance are to be considered in violation of Title 83, Chapter 53, Section 25(1) of the in Mississippi Code of 1972, Annotated. This prohibition applies rega…

If any provision of any section of this Regulation or the application thereof to any circumstance or person or entity is held invalid by any court, such invalidity shall not affect any other provision of that section or application of the Regulation which can be given effect with…

This Regulation shall become effective April 1, 1990. Notes 19 Miss. Code. R. 1-18.08 Miss. Code Ann. § 25-43-3.113(2010)

This Regulation is adopted and promulgated by the Commissioner of Insurance pursuant to Miss. Code Ann. §§ 83-1-29, 83-1-165, 83-5-1, 83-6-31 and 83-19-157, and in accordance with the provisions of Miss. Code Ann. Chapter 43, Title 25, and Mississippi Insurance Department Regulat…

A. The Mississippi Insurance Department recognizes that licensed insurers routinely enter into reinsurance agreements that yield legitimate relief to the ceding insurer from strain to surplus. B. However, it is improper for a licensed insurer, in the capacity of ceding insurer, t…

This regulation shall apply to all domestic life and accident and health insurers and to all other licensed life and accident and health insurers which are not subject to a substantially similar regulation in their domiciliary state. This regulation shall also similarly apply to …

A. No insurer subject to this regulation shall, for reinsurance ceded, reduce any liability or establish any asset in any financial statement filed with the Department if, by the terms of the reinsurance agreement, in substance or effect, any of the following conditions exist:1. …

A. No reinsurance agreement or amendment to any agreement may be used to reduce any liability or to establish any asset in any financial statement filed with the Department, unless the agreement, amendment or a binding letter of intent has been duly executed by both parties no la…

Insurers subject to this regulation shall reduce to zero by December 31, 1996 any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this regulation which, under the provisions of this regulation would not be e…

This regulation shall become effective December 31, 1996 and after filing with the office of the Secretary of State. Notes 19 Miss. Code. R. 1-19.07 Miss. Code Ann. § 25-43-3.106 (Rev. 2010)

No agent shall use his or her insurance business to promote any other business either directly or indirectly by including policies of insurance with sales of other items, either gratis or at a reduced premium. Any such related transaction shall be considered rebating and any publ…

This regulation is adopted and promulgated pursuant to the authority granted by Miss. Code Ann. Section 83-6-31(1972), and in accordance with the provisions of Miss Code Ann. Chapter 43, Title 25, and the Mississippi Insurance Department Regulation 19 Miss. Admin. Code, Part 1, C…

The purpose of this regulation is to set forth rules and procedural requirements which the Commissioner deems necessary to carry out the provisions of the Insurance Holding Company System Regulatory Act, Miss. Code Ann. Section 83-6-1 et seq. ( Supp. 2013), hereinafter referred t…

If any provision of this regulation, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect other provisions or applications of this regulation which can be given effect without the invalid provision or application, and to t…

A. Forms A, B, C, D, E and F are intended to be guides in the preparation of the statements required by Sections 83-6-24, 83-6-5, 83-6-21, and 83-6-24 of the Act. They are not intended to be blank forms which are to be filled in. These statements filed shall contain the numbers a…

A. Information required by any item of Form A, Form B, Form C, Form D, Form E or Form F may be incorporated by reference in answer or partial answer to any other item. Information contained in any financial statement, annual report, proxy statement, statement filed with a governm…

If it is impractical to furnish any required information, document or report at the time it is required to be filed, there may be filed with the Commissioner as a separate document a statement: A. Identifying the information, document or report in question; B. Stating why the fil…

In addition to the information expressly required to be included in Form A, Form B, Form C, Form D, Form E and Form F, there shall be added such further material information, if any, as may be necessary to make the information contained therein not misleading. The person filing m…

A. "Executive officer" means chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and any other individual performing functions corresponding to those performed by the foregoing officers under whatever title. B. "Ultimate co…

The authority to invest in subsidiaries under Section 83-6-2(2) of the Act is in addition to any authority to invest in subsidiaries which may be contained in any other provision of the Insurance Code. Notes 19 Miss. Code. R. 1-20.09 Miss. Code Ann. § 83-6-2 (Supp. 2013) Amended …

A person required to file a statement pursuant to Section 83-6-24 of the Act shall furnish the required information on Form A, hereby made a part of this regulation. Such person shall also furnish the required information on Form E, hereby made a part of this regulation and descr…

The applicant shall promptly advise the Commissioner of any changes in the information so furnished on Form A arising subsequent to the date upon which such information was furnished but prior to the Commissioner's disposition of the application. Notes 19 Miss. Code. R. 1-20.11 M…

If the person being acquired is deemed to be a "domestic insurer" solely because of the provisions of Section 83-6-24 of the Act, the name of the domestic insurer on the cover page should be indicated as follows: "ABC Insurance Company, a subsidiary of XYZ Holding Company". Where…

If a domestic insurer, including any person controlling domestic insurer, is proposing a merger or acquisition pursuant to Section 83-6-24(1) of the Act, that person shall file a pre-acquisition notification form, Form E, which was developed pursuant to Section 83-6-24 of the Act…

An insurer required to file a registration statement pursuant to Section 83-6-5 of the Act shall file such statement on an annual basis and shall furnish the required information on Form B, hereby made a part of this regulation. Notes 19 Miss. Code. R. 1-20.14 Miss. Code Ann. §§ …

An insurer required to file an annual registration statement pursuant to Section 83-6-3 is also required to furnish information required on Form C, hereby made a part of these regulations. An insurer shall file a copy of Form C in each state in which the insurer is authorized to …

A. An amendment to Form B shall be filed within 15 days after the end of any month in which there is a material change to the information provided in the annual registration statement. B. Amendments shall be filed in the Form B format with only those items which are being amended…

A. Any authorized insurer may file a registration statement on behalf of any affiliated insurer or insurers which are required to register under Section 83-6-3 of the Act. A registration statement may include information not required by the Act regarding any insurer in the insura…

A. A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information: 1. the numb…

A. An insurer required to give notice of a proposed transaction pursuant to Section 83-6-21 of the Act shall furnish the required information on Form D, hereby made a part of this regulation. B. Agreements for cost sharing services and management services shall at a minimum and a…

The ultimate controlling person of an insurer required to file an enterprise risk report pursuant to Section 83-6-5(5) of the Act shall furnish the required information on Form F, hereby made a part of these regulations. Notes 19 Miss. Code. R. 1-20.20 Miss. Code Ann. §§ 83-6-5; …

A. Requests for approval of extraordinary dividends or any other extraordinary distribution to shareholders shall include the following: 1. The amount of the proposed dividend; 2. The date established for payment of the dividend; 3. A statement as to whether the dividend is to be…

The factors set forth in Section 83-6-23 of the Act are not intended to be an exhaustive list. In determining the adequacy and reasonableness of an insurer's surplus no single factor is necessarily controlling. The Commissioner, instead, will consider the net effect of all of the…

This Regulation, as amended, shall be effective on and after July 1, 2017. Notes 19 Miss. Code. R. 1-20.23 Miss. Code Ann. §§ 25-43-3.112; 83-5-1 (Rev. 2011) Amended 12/7/2014 Amended 7/1/2017

FORM D PRIOR NOTICE OF A TRANSACTION Filed with the Insurance Department of the State of ____________________ BY __________________________________________ (Name of Registrant) On Behalf of Following Insurance Companies Name Address _______________________________________________…

FORM A STATEMENT REGARDING THE ACQUISITION OF CONTROL OF OR MERGER WITH A DOMESTIC INSURER ____________________________________ Name of Domestic Insurer BY ____________________________________ Name of Acquiring Person (Applicant) Filed with the Insurance Department of ___________…

FORM B INSURANCE HOLDING COMPANY SYSTEM ANNUAL REGISTRATION STATEMENT Filed with the Insurance Department of the State of ____________________ BY __________________________ (Name of Registrant) On Behalf of Following Insurance Companies: Name Address _____________________________…

FORM C SUMMARY OF REGISTRATION STATEMENT Filed with the Insurance Department of the State of ____________________ BY __________________________ (Name of Registrant) On Behalf of Following Insurance Companies Name Address ___________________________________________________________…

FORM D PRIOR NOTICE OF A TRANSACTION Filed with the Insurance Department of the State of ____________________ BY __________________________________________ (Name of Registrant) On Behalf of Following Insurance Companies Name Address _______________________________________________…

FORM E PRE-ACQUISITION NOTIFICATION FORM REGARDING THE POTENTIAL COMPETITIVE IMPACT OF A PROPOSED MERGER OR ACQUISITION BY A NON-DOMICILIARY INSURER DOING BUSINESS IN THIS STATE OR BY A DOMESTIC INSURER ______________________________ Name of Applicant ____________________________…