Extension of Financial Filing Deadlines and Procedural Requirements as a Result of COVID-19 Recommendations and Orders (Substantive)

Mike DeWine, Governor Jon Husted, Lt. Governor Jillian Froment, Director

BULLETIN 2020-09

EXTENSION OF FINANCIAL FILING DEADLINES AND PROCEDURAL REQUIREMENTS AS A RESULT OF COVID-19 RECOMMENDATIONS AND ORDERS

Effective April 15, 2020

On March 9, 2020, Governor Mike DeWine signed Executive Order 2020-01D, declaring a state of emergency in Ohio to protect the well-being of Ohioans from the dangerous effects of COVID- 19. In part, the Executive Order directs that “[s]tate agencies shall develop and implement procedures, including suspending or adopting temporary rules within an agency’s authority, consistent with recommendations from the Department of Health designed to prevent or alleviate this public health threat.”

Following Governor DeWine’s Executive Order, the Governor and Ohio Department of Health Director Dr. Amy Acton have issued other recommendations and orders helping protect Ohioans from the spread of COVID-19. These include a recommendation for employers to permit employees to work from home, whenever possible, as well as an order prohibiting mass gatherings in the State of Ohio.

As a result of these necessary actions to keep Ohioans safe, the Superintendent of the Ohio Department of Insurance (“Superintendent”) is aware that, in some cases, compliance with certain financial filing deadlines and procedural insurance requirements may not be possible. The purpose of this Bulletin is to provide individuals, companies, and other entities licensed pursuant to the laws of this state relating to insurance with flexibility during this time.

Timing Modifications Individuals, companies, and other entities licensed pursuant to laws of this state relating to insurance are hereby notified that the Superintendent may, upon written request, modify the effect of legal or procedural requirements related to financial filings, including, but not limited to, deadlines, due dates, times of default, time expirations, periods of time, or other acts or events set forth in the laws of this state relating to insurance; the “laws of this state relating to insurance” has the same meaning as in section 3901.04 of the Revised Code, and includes any associated administrative rules and Department bulletins.

At this time, companies shall continue to submit all required financial filings, including filings with the National Association of Insurance Commissioners (“NAIC”) and the Department. However, the Department is willing to allow companies an additional 30 days to complete most of the financial filings identified in “Attachment A” of this Order (and 60 days for some), but must

1 receive a written request for late filing from your company, and reserves the right to reject any such individual company requests based upon the financial condition and unique circumstances of that company deemed applicable to that company. If your company believes that it will not be able to meet any of the financial filing deadlines identified in “Attachment A” of this Order required by law or by order, please contact the Office of Risk Assessment and submit your request for extension of the filing deadline. The filings identified in “Attachment A” of this Order may be updated or revised as necessary, at the Superintendent’s discretion.

Electronic Filings Requirements to submit information in physical form, including any mailing, wet signature, or notary requirement, are hereby suspended. Companies must maintain a record of all filings made electronically in lieu of physical information filings. Within 60 days after the expiration of this Order, all required physical information withheld pursuant to this Order shall be submitted to the Department.

On-Site Examinations On-site meetings for the purposes of conducting examinations are hereby suspended. The Department will continue to conduct such examinations by electronic means.

This Bulletin expires upon the expiration of the state of emergency declared by Governor DeWine on March 9, 2020.

Superintendent of Insurance

Jillian Froment Director

2 ATTACHMENT A

REGULATORY FILING DEADLINES ELIGIBLE FOR EXTENSION

Filings Eligible for 30-Day Extension

• May 1, 2020 Combined Annual Statement Filing (Property) • May 1, 2020 Combined Insurance Expense Exhibit (Property) • May 15, 2020 NAIC IRIS Response (required if four (4) or more failures) (Property, Life/Fraternal, Health) • June 1, 2020 Accountant’s Letter of Qualifications (Property, Life/Fraternal, Health, Title) • June 30, 2020 Accountant’s Letter of Qualifications (MEWA) • Aug. 15, 2020 PBR Exemption filing due 7/1 and to NAIC 8/15 (Life/Fraternal) • May 15, 2020 NAIC 2020 quarterly electronic filings: o Quarterly Statement Filing as of March 31, 2020 (Property, Life/Fraternal, Health, Title, MEWA, Mutual Protective – if applicable) o Trusteed Surplus Statement – Quarter Ending March 31, 2020 (Property, Life/Fraternal) o Supplement A to Schedule T (Medical Professional Liability Supplement) – Quarter Ending March 31, 2020 (Property) o Medicare Part D Coverage Supplement – Quarter Ending March 31, 2020 (Property, Life/Fraternal, Health) o Merger/History Quarterly Form, if applicable (Property, Life/Fraternal, Health, Title) (electronic txt file only) o Reasonableness of Assumptions Certification Required by Actuarial Guideline XXXV – Quarter Ending March 31, 2020 (Life/Fraternal) o Reasonableness and Consistency of Assumptions Certification Required by Actuarial Guideline XXXV – Quarter Ending March 31, 2020 (Life/Fraternal) o Reasonableness of Assumptions Certification for Implied Guaranteed Rate Method Required by Actuarial Guideline XXXVI – Quarter Ending March 31, 2020 (Life/Fraternal) o Reasonableness and Consistency of Assumptions Certification Required by Actuarial Guideline XXXVI (Updated Average Market Value) – Quarter Ending March 31, 2020 (Life/Fraternal) o Reasonableness and Consistency of Assumptions Certification Required by Actuarial Guideline XXXVI (Updated Market Value) – Quarter Ending March 31, 2020 (Life/Fraternal) o Director and Officer Insurance Coverage Supplement – Quarter Ending March 31, 2020 (Property)

3 Filings Eligible for 60-Day Extension

• June 1, 2020 Audited Financial Report (Property, Life/Fraternal, Health, Title) • June 30, 2020 Audited Financial Report (MEWA) • Aug. 1, 2020 Communication of Internal Control Related Matters Noted in Audit (Property, Life/Fraternal, Health, Title) • Aug. 31, 2020 Communication of Internal Control Related Matters Noted in Audit (MEWA) • June 1, 2020 Corporate Governance Annual Disclosure • June 1, 2020 Form B Registration Statement & Related Form C • June 1, 2020 Risk Assessment Report (Form F) • Apr. 30, 2020 Actuarial Memorandum Required by Actuarial Guideline XXXVIII 8D (Life/Fraternal) • Aug. 1, 2020 Management’s Report of Internal Control Over Financial Reporting (Property, Life/Fraternal, Health, Title) • Aug. 31, 2020 Management’s Report of Internal Control Over Financial Reporting (MEWA)

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