Sec. 31.04.04.02. Form of Financial Filings

A. Definition.

(1) In this regulation, the following term has the meaning indicated.

(2) "Required related annual filings" means, but is not limited to, the Statement of Actuarial Opinion, Risk-Based Capital Report, and Management's Discussion and Analysis.

B. Filings. The filings required by §§C and D of this regulation shall be made in accordance with the Annual Statement Instructions adopted by the NAIC.

C. Domestic Companies.

(1) Each domestic insurance company, health maintenance organization, dental plan organization, and nonprofit health service plan that is required to file an annual statement and required related annual filings, quarterly statements, and annual audited financial statements, as well as all amendments and addenda to these filings, shall make those filings on paper with the Administration.

(2) Each domestic insurance company, health maintenance organization, dental plan organization, and nonprofit health service plan shall also file its annual statements, required related annual filings, quarterly statements, and annual audited financial statements, as well as all amendments and addenda to these filings, in both a paper and an electronic format with the NAIC.

D. Foreign Companies

(1) Each foreign insurance company, health maintenance organization, dental plan organization, and nonprofit health service plan that has been issued a certificate of authority by the Administration shall file its annual statements, required related annual filings, and annual audited financial statements, as well as all amendments and addenda to these filings, in an electronic format with the NAIC.

(2) Foreign companies shall file the documents required by §D(1) of this regulation with the NAIC on or before the due dates specified in Maryland law. These filings shall be considered to have been filed with the Administration when they are received by the NAIC.

(3) The Administration shall use the dates the documents are received by the NAIC in order to determine compliance with Maryland filing requirements, and for imposing any fines or penalties specified in Maryland law for failing to file these documents on or before their due dates.

(4) Each foreign insurance company, health maintenance organization, dental plan organization, and nonprofit health service plan that has been issued a certificate of authority by the Administration shall annually, on or before the filing due dates specified in this regulation, provide the administration with an annual statement jurat page, signed by appropriate officers of the company, and affirming that the electronic filing made by the company with the NAIC is, except for formatting differences, an exact copy of the Annual Statement.