At the beginning of each year, NISS sends a personalized filing schedule to each member company...
NISS NEWS

Vol. 53 | February 2024

Early Data Filings – The Importance of Due Dates

At the beginning of each year, NISS sends a personalized filing schedule to each member company in the Verification of Experience (VE) Confirmation Email. The schedule contains a list of due dates for each line of business that company will be submitting. Receiving company data submissions by those due dates allows the NISS staff adequate time to process and review the data and make any necessary corrections so the data is ready to be included in compliance reports. The compliance reports are sent to state insurance departments and other organizations to fulfill regulatory requirements.

Several of the compliance reports are due to regulators not long after the NISS due date, which makes it essential that we receive the data in a timely manner. Below is a list of reports with early due dates, along with a brief explanation.

  • Massachusetts Homeowners – Data is submitted to meet requirements set forth under the Massachusetts General Laws, Chapter 175, Section 4A.

  • New York Voluntary Private Passenger Automobile – Full Detail Ratemaking Experience is reported to AIPSO.

  • Voluntary Automobile – Data is submitted to AIPSO on your behalf, broken out by each individual insurer for use in determining and setting AIP quotas and apportioning state AIP expenses.

  • Illinois Cost Containment Report Part 4203.A – NISS furnishes individual insurer (Auto, Homeowners, General Liability, Medical Professional Liability, Businessowners, Excess Insurance) data at the company’s request.

  • North Carolina Homeowners – Homeowners, Dwelling, and Mobilehome data is consolidated for all statistical agents, then sent to the North Carolina Rate Bureau.

Although NISS does not penalize companies for late data submissions, it is important to submit data by the due dates listed on your filing schedule. We appreciate on-time submissions!

Technical Advisory Committee

The Technical Advisory Committee (TAC) is a group comprised of member company representatives that advise NISS on the impact of proposed changes. This committee also shares ideas on how to make the reporting process as simple as possible and how to make the website and other resources more convenient and useful for member companies.

The TAC meets two times each year to discuss potential changes. This committee is a crucial part of the development and testing of tools and resources for NISS companies, and we thank the TAC members for their valuable input!

2024 Upcoming Meetings

Executive Committee Meeting
Virtual Meeting | April 19, 2024

Board Meeting
St. George, Utah | May 3-6, 2024

Technical Advisory Committee
Indianapolis, Indiana | June 18, 2024

Executive Committee Meeting
Virtual Meeting | September 6, 2024

Board Meeting
Indianapolis, Indiana | September 16, 2024

Technical Advisory Committee
Virtual Meeting | October 15, 2024

Executive Committee Meeting
Virtual Meeting | December 6, 2024

Board Meeting
Virtual Meeting | December 16, 2024

About Us

NISS is a unique resource for the property/casualty insurance industry. We collect and report timely, quality insurance data and perform other related functions at a reasonable cost.

For more information, please visit www.niss‑stat.org.

2024 Upcoming Due Dates

For a list of upcoming due dates, please click here.

Stat Brain Teaser

There are 20 people in a room. They each shake each other’s hand once (and only once). How many handshakes were there all together?

Please email your answers to NISSNews@niss-stat.org. A person will be randomly drawn from the first ten correct answers, and that person will win a $25 gift card from Amazon.com!

Winner of $25 Amazon gift card last quarter: Bill Smith

For the question and answer from the last brain teaser, please view the NISS News section here.


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