Company Bulletin 2005-04 - Illinois Division of Insurance

November 30, 2005
To:	All Domestic Companies Authorized to Write Life and/or Accident and Health and Property and Casualty Insurance in Illinois (including fraternals). All Domestic Health Maintenance Organizations and Limited Health Service Organizations. All Voluntary Health Services Plans and Dental Service Plans.
From:	Michael T. McRaith, Director
Re:	(CB #2005-04) Amended Statements
Contact:	Life and/or Accident and Health Sara Ross (217) 782-9760 HMOs, LHSOs, VHSPs and DSPs Jeff Martin (217) 782-1798	Property and Casualty Jeff Jackson (217) 524-7999
This bulletin is to provide guidance for the filing of an amendment to statutory financial statements. SSAP 3, paragraph 10 of the NAIC Accounting Practices and Procedures Manual states that corrections of errors in previously issued financial statements shall be reported as adjustments to unassigned funds in the period an error is detected. In addition, this paragraph directs the company to obtain approval of the domiciliary regulator before filing an amendment to the financial statements. Based on this, Illinois domestics are directed to request approval from this Division prior to preparing and filing any amendments to previously filed financial statements. It may be determined that no amended filing needs to be submitted, and prior to this time few amendments have been deemed by this Division to be necessary. If approval is given by the Division to make an amendment, the amendment must be submitted simultaneously to the Division, the NAIC, and all other states in which the company is licensed. The submission of an amendment must include an appropriately signed jurat page.