Mississippi Administrative Code

EXHIBIT A MISSISSIPPI DEPARTMENT OF INSURANCE EXPEDITED REVIEW FILING ELECTION FORM Company Name: ________________________________________________ Form Filing SERFF Number: ______________________________________ Check One: ______________ I elect to use the expedited for filing pr…

EXHIBIT B MISSISSIPPI PRODUCT AND RATE FILING FEE SCHEDULE Effective June 1, 2017 Filing Rating Classifications: 5 - Extremely High Degree of Analysis - $1,100 4 - Medium High Degree of Analysis - $825 3 - Average Degree of Analysis - $550 2 - Medium Low Degree of Analysis - $275…

This Regulation is promulgated by the Commissioner of Insurance pursuant to Miss. Code Ann. §§ 83-1-29; 83-1-155; 83-5-17; 83-6-37; 83-7-43; 83-19-31; 83-21-13; 83-23-1; 83-30-59; 83-30-61; 83-41-339; 83-41-341; 83-41-343; 83-24-1 et seq., and any other section where the term "ha…

The purpose of this regulation is to set forth the standards which the Commissioner may use for identifying insurers found to be in such condition as to render the continuance of their business hazardous to their policyholders, creditors or the general public. This regulation sha…

The following standards, either singly or a combination of two or more, may be considered by the Commissioner to determine whether the continued operation of any insurer transacting an insurance business in this State might be deemed to be hazardous to its policyholders, creditor…

A. For the purposes of making a determination of an insurer's financial condition under this regulation, the Commissioner may:1. Disregard any credit or amount receivable resulting from transactions with a reinsurer that is insolvent, impaired or otherwise subject to a delinquenc…

Any order or decision of the Commissioner may be appealed at the instance of any party to the proceedings whose interests are substantially affected to the Chancery Court of the First Judicial District of Hinds County, Mississippi, in the manner provided by law. Notes 19 Miss. Co…

If any section or portion of a section of this regulation or the application thereof is held by a court to be invalid, such invalidity shall not affect any other provision of that section or application of the regulation which can be given effect without the invalid provision or …

Regulation 91-101 is hereby repealed and replaced by this regulation. Notes 19 Miss. Code. R. 1-39.07 Miss. Code Ann. § 83-5-1 (Rev. 2011)

The effective date of this regulation shall be August 1, 2009. Notes 19 Miss. Code. R. 1-39.08 Miss. Code Ann. § 25-43-3.113 (Rev. 2010)

Numerous complaints have reached this office recently relative to agents selling or promoting stock sales along with sale of insurance policies. Such a practice is in violation of Section 5639, sub-section (d) of the Mississippi Code of 1942, Annotated. Recognizing the difficulty…

This regulation is promulgated by the Commissioner of Insurance (hereinafter "Commissioner") pursuant to the authority granted to him by Miss. Code Ann. § 71-3-121 (Rev. 2000). Notes 19 Miss. Code. R. 1-40.01 Miss. Code Ann. § 71-3-121 (Rev. 2011)

The purpose of this Regulation is to implement the requirements of Miss. Code Ann. § 71-3-121 (Rev. 2000). Notes 19 Miss. Code. R. 1-40.02 Miss. Code Ann. § 71-3-121 (Rev. 2011)

This Regulation shall apply to all insurance companies authorized in this state to provide coverage for an employer's liability for injuries, disability or death to persons in their employment, without regard to fault, as prescribed by state worker's compensation laws. Notes 19 M…

For the purposes of this Regulation, the definitions found in Miss. Code Ann. §§ 71-3-3 and 71-7-1, as they may be amended from time to time, will control. Notes 19 Miss. Code. R. 1-40.04 Miss. Code Ann. § 71-3-121 (Rev. 2011)

A. Every insurer shall establish a safety program for the health and benefit of the employees of its insureds. An insurer may use any reasonable methods to notify its insureds of the availability of the materials that comprise its program, and deliver those materials upon the req…

Within 120 days of the effective date of this Regulation, each insurer shall file a copy of its safety program with the Commissioner of Insurance, for informational purposes only, in order to verify compliance with this regulation. Notes 19 Miss. Code. R. 1-40.06 Miss. Code Ann. …

If any section or portion of a section of this Regulation or the application thereof is held by a court to be invalid, such invalidity shall not affect any other provision of that section or application of the Regulation which can be given effect without the invalid provision or …

This Regulation shall become effective upon adoption. Notes 19 Miss. Code. R. 1-40.08 Miss. Code Ann. § 25-43-3.113 (Rev. 2010)

This Regulation is promulgated by the Commissioner of Insurance pursuant to the authority granted to him by Miss. Code Ann. § 83-5-1 and Miss. Code Ann. § 83-2-3 as amended by House Bill 756, 2014 Regular Session, as well as the provisions of the Mississippi Department of Insuran…

The purpose of this Regulation is to implement the provisions contained in House Bill 756, 2014 Regular Session. This Regulation applies to homeowners' insurance policies written by admitted carriers in this state that contain a named storm deductible or a hurricane deductible. T…

For the purposes of this Regulation, the following definitions shall apply: A. "Deductible" shall mean a policy provision that requires the insured to be responsible for a specific amount or percentage of a loss or the percentage of insured value on the policy and the insurer to …

Insurers are not required to include a named storm deductible or a hurricane deductible in a homeowners' insurance policy. However, should an insurer include a named storm deductible or a hurricane deductible in their policy filing, the insurer must comply with the provisions set…

If a homeowners' policy includes a percentage named storm deductible or a percentage hurricane deductible, the insurer shall offer a buy-back provision that is actuarially sound; however the Commissioner of Insurance may grant a waiver from the mandatory buy-back provision in acc…

Any homeowners' insurance policy or endorsement that includes a named storm deductible must include the following language in the policy: A. Definition of Named Storm - the policy must define a named storm as set forth in the definition found at Rule 41.03(G) of this Regulation. …

Any homeowners' insurance policy or endorsement that includes a hurricane deductible must include the following language in the policy: A. Definition of Hurricane - the policy must define a hurricane as set forth in the definition found at Rule 41.03(D) of this Regulation. B. Per…

A. Insurers are required to provide clear and prominent notice of all named storm deductibles. Notices of named storm deductibles must comply with the provisions of this Regulation; Miss. Code Ann. § 83-2-3; and HB 756, 2014 Regular Session.1. The notice shall be included in eith…

A. Insurers are required to provide clear and prominent notice of all hurricane deductibles. Notices of hurricane deductibles must comply with the provisions of this Regulation; Miss. Code Ann. § 83-2-3; and HB 756, 2014 Regular Session.1. The notice shall be included in either t…

A. All rate filings must provide sufficient actuarial justification for rate variances, premium offsets and premium credits for a named storm deductible or hurricane deductible. B. Insurers must demonstrate that rates are not excessive, inadequate or unfairly discriminatory. C. I…

If any provision of any section of this Regulation or the application thereof is held by a court to be invalid, such invalidity shall not affect any other provision of that section or application of the Regulation which can be given effect without the invalid provision or applica…

The Effective Date of this Regulation shall be July 1, 2014. Insurers must be in full compliance with the provisions of this Regulation by October 1, 2014. Notes 19 Miss. Code. R. 1-41.12 Miss. Code Ann. §§ 25-43-3.113(2)(b)(i); 83-5-1; 83-2-3 (Rev 2011); HB 756, 2014 Regular Ses…

For the premium charged, we will pay only that part of the total of the loss for all Section I Property Coverages that exceeds the Named Storm Deductible noted below: This deductible applies, as described below, in the event of direct physical loss to property covered under this …

For the premium charged, we will pay only that part of the total of the loss for all Section I Property Coverages that exceeds the Hurricane Deductible noted below: This deductible applies, as described below, in the event of direct physical loss to property covered under this po…

This regulation is promulgated pursuant to the authority granted by Senate Bill 2467 which was passed by the Mississippi Legislature in the 2018 Regular Session and 19 Miss. Admin. Code, Part 1, Chapter 15, said Regulation being the Rules of Practice and Procedure before the Miss…

A. Purpose. This regulation is promulgated to provide information to surplus lines insurance producers regarding the collection and remittance of the non-admitted policy fee pursuant to the enactment of Senate Bill 2467. B. Scope. This regulation applies to all single risk surplu…

Senate Bill 2467 amends Section 83-34-4, to require for one (1) year beginning July 1, 2018, that Four Million Five Hundred Thousand Dollars ($4,500,000.00) derived from the non admitted policy fee be deposited into the Rural Fire Truck or Supplementary Rural Fire Truck Fund, and…

A. A clearing house account has been established in Trustmark Bank, entitled the "Non-admitted Policy Fee Account", for which the Mississippi Insurance Department ("MID") shall be the administrator. B. The Mississippi Surplus Lines Association ("MSLA") shall be provided with the …

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…

This Regulation shall be effective on and after July 1, 2018. Notes 19 Miss. Code. R. 1-42.06 Miss. Code Ann. §§ 25-43-3.112; 83-5-1 (Rev. 2011); SB 2467, 2018 Mississippi Legislature Regular Session Adopted 7/1/2018

This regulation is promulgated pursuant to the authority granted in House Bill 324 which was passed by the Mississippi Legislature in the 2019 Regular Legislative Session and 19 Miss. Admin. Code, Part 1, Chapter 15, said Regulation being the Rules of Practice and Procedure befor…

The purpose of this regulation is to set forth the procedures for filing and the required contents of the Corporate Governance Annual Disclosure (CGAD), deemed necessary by the Commissioner to carry out the provisions of House Bill 324, 2019 Regular Legislative Session. Notes 19 …

A. "Commissioner." The Insurance Commissioner of the State. B. "Insurance group." For the purpose of this Act, the term "insurance group" shall mean those insurers and affiliates included within an insurance holding company system as defined in Miss. Ann. Code § 83-6-1(d) (Rev. 2…

A. An insurer, or the insurance group of which the insurer is a member, required to file a CGAD pursuant to the provisions of House Bill 324, 2019 Regular Legislative Session, shall, no later than June 1 of each calendar year, submit to the Commissioner a CGAD that contains the i…

A. The insurer or insurance group shall be as descriptive as possible in completing the CGAD, with inclusion of attachments or example documents that are used in the governance process, since these may provide a means to demonstrate the strengths of their governance framework and…

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 these regulations which can be given effect without the invalid provision or application, and to…

This regulation shall be effective on and after January 1, 2020. Notes 19 Miss. Code. R. 1-43.07 Miss. Code Ann. §§ 83-5-7-1 through 83-5-717 Adopted 1/1/2020

This Regulation is promulgated by the Commissioner of Insurance pursuant to the authority granted to him by Miss. Code Ann. Sections 83-5-1 and 83-2-1 et seq. (Rev. 2011), as well as the provisions of the Mississippi Insurance Department ("MID") Regulation entitled "Rules of Prac…