| Q: |
CAN WE REQUEST AN
EXTENSION ON THE CALL’S REQUIRED DUE DATE? |
| A: |
The Bureau will not
grant an extension for any reason.
All calls must be received prior to or on the required due
date. |
| |
|
| Q: |
CAN CALLS BE
SUBMITTED BY FAX OR E-MAIL? |
| A: |
Calls that are to be reported through the Financial Data
Reporting Application (FDRA) are not to be faxed or e-mailed.
Revisions to those calls must also be submitted through the
FDRA.
For those Calls that are to be submitted in hard
copy, the Bureau cannot accept fax or e-mail versions of original Call
submissions. However, a
revision to those calls may be submitted by fax or e-mail. |
| |
|
| Q: |
What
is the Financial Data Reporting Application (FDRA)? |
| A: |
The
FDRA is an internet based system that allows carriers to enter, edit
and submit Financial Calls and Schedule W subject to the Financial
Data Incentive Program to the Bureau and for Schedule W only, to the
Pennsylvania Insurance Department. |
| |
|
| Q: |
What
Calls are to be reported through the FDRA? |
| A: |
The
Calls that are to be reported through the FDRA are Calls #1, 8 and 9,
the Acknowledgement Form and the Exhibit of Premiums and Losses
(Statutory Page 14) – Page 24 of the Annual Statement.
Schedule W also is to be submitted through the FDRA.
Once submitted, Schedule W will be available to both the Bureau
and the Pennsylvania Insurance Department.
The
Calls that are to be submitted via hard copy are Calls #3, 4, 7 and
14. |
| |
|
| Q: |
What
if I am unable to report the Calls through the FDRA and have to submit
them via hardcopy?
|
| A: |
Carriers
who are unable to report using the FDRA must contact the Bureau in
writing and set forth all factors hindering their ability to use the
FDRA. The Bureau will
review this request and will notify carriers within 14 days of a final
decision regarding an alternative method of reporting.
|
| |
|
| Q: |
OUR COMPANY HAS NOT
WRITTEN BUSINESS IN A FEW YEARS. DO WE NEED TO CONTINUE TO SEND CALLS? |
| A: |
Yes. Experience
for policy years continues to develop for many years after those
policies expire. While a
carrier may not have any new business, the current calendar year will
generally reflect activity on those older years.
Tracking of that activity is a crucial part of the Bureau’s
analysis in the preparation of rate and/or loss cost filings.
|
| |
|
| Q: |
CAN WE CHANGE OUR
DESIGNATED CONTACT PERSON? |
| A: |
Yes.
A carrier may change their Designated Contact Person at any
time. Simply notify the
Bureau and we will mail you the forms to complete or you can print the
forms directly from this website.
Once we receive the completed form, we will update our records
accordingly. Otherwise,
all correspondence will continue to be sent to the contact person on
record. |
| |
|
| Q: |
THERE ARE SOME ITEMS
ON OUR FINANCIAL CALLS THAT MAY LOOK EXTRAORDINARY WITHOUT EXPLANATION. SHOULD WE WAIT FOR
A CRITICISM LETTER BEFORE WE OFFER AN EXPLANATION? |
| A: |
No.
We encourage all carriers to attach additional information at
the time of submission. The FDRA provides a text box on the reconciliation pages and
also has a create notes section for carriers to provide explanations
for any imbalances or inconsistencies.
In most cases, a simple paragraph is sufficient and a Bureau
criticism letter may be avoided. |
|
|
| Q: |
WHERE
CAN I GET A COPY OF THE INSTRUCTIONS OR FORMS FOR A FINANCIAL CALL? |
| A: |
Copies of the
instructions for all calls and Schedule W can be accessed and/or
printed from the Bureau’s web site.
Forms for Calls #3, 4, 7 and 14 are likewise available.
All Forms subject to the FDIP must be accessed through the FDRA. |