Required Annual Financial Statements and Participation in the NAIC Insurance Regulatory Information System.

D.C. Code div. V, tit. 31, ch. 19

in effect

D.C. Code § 31-1901 Filing requirements.

31-1901. Filing requirements. (a) Every company or association authorized to transact insurance business in the District shall file annually with the Mayor, before March 1st of each year, a financial statement for the year ending December 31st immediately preceding on forms furnished by the Mayor. The Mayor may extend the time for filing the statement by any company for reasons which the Mayor shall deem sufficient. Such a statement shall be verified by the oath of the president and secretary of the company, or, in their absence, by 2 other principal officers. The Mayor shall annually, in the month of December, furnish to each of the companies and associations authorized to do insurance business in the District forms necessary for filing the annual financial statement required by this section. The forms shall conform substantially to the form of statement adopted by the National Association of Insurance Commissioners (“NAIC”). The filing of these statements shall be in accordance with the NAIC Accounting Practices and Procedures Manual. The Mayor shall have power to make modifications and additions in the financial statement forms as the Mayor may deem necessary to ascertain the condition and affairs of the company. The Mayor may also require that at least once in the month of March in each year a summary of the annual statement by the company be published in a daily newspaper in the District. (b) Each domestic, foreign, and alien insurer authorized to transact insurance in the District shall annually, on or before March 1st of each year, file with the NAIC, and pay the fee established by the NAIC for filing, reviewing, or processing the information, a copy of its annual statement convention form, along with any additional filings prescribed by the Mayor for the preceding year. The information filed with the NAIC shall be in the same format and scope as that required by the Mayor and shall include the signed jurat page and the actuarial certification. Any amendments and addendums to the annual statement filing subsequently filed with the Mayor shall also be filed with the NAIC. (c) Foreign insurers domiciled in a state which has a law substantially similar to subsection (a) of this section shall be deemed in compliance with this section if they file their annual statements in compliance with that jurisdiction’s law. (Oct. 21, 1993, D.C. Law 10-42, § 2, 40 DCR 6020.)

D.C. Code § 31-1902 Immunity.

31-1902. Immunity. (a) In the absence of fraud, actual malice, or bad faith, members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others, including District employees, charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the Mayor under the authority of this chapter, and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required by this chapter. (b) Nothing in this section is intended to abrogate or modify in any way any common law or statutory privilege or immunity enjoyed by any person prior to this chapter. (Oct. 21, 1993, D.C. Law 10-42, § 3, 40 DCR 6020.)

D.C. Code § 31-1903 Confidentiality.

31-1903. Confidentiality. All financial analysis ratios and examination synopses and related information concerning insurance companies that are submitted to the Mayor by the NAIC Insurance Regulatory Information System are confidential and may not be disclosed by the Mayor or any member of the Department of Insurance, Securities, and Banking. This information shall not be subject to disclosure under the District of Columbia Freedom of Information Act or any other District law relating to disclosure of information. (Oct. 21, 1993, D.C. Law 10-42, § 4, 40 DCR 6020; May 21, 1997, D.C. Law 11-268, § 10(dd), 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 4(k), 51 DCR 2817.)

D.C. Code § 31-1904 Revocation of Certificate of Authority.

31-1904. Revocation of Certificate of Authority. The Mayor may fine insurance companies or suspend, revoke, or refuse to renew the Certificate of Authority of any insurer failing to file its annual statement when due or within any extension of time which the Mayor, for good cause, may have granted. (Oct. 21, 1993, D.C. Law 10-42, § 5, 40 DCR 6020.)

Source: Council of the District of Columbia (code.dccouncil.gov)URL: https://code.dccouncil.gov/us/dc/council/code/titles/31/chapters/19Fetched: 10/21/2026