Annual Statement Supplement Report (ASSR) Memorandum

MEMORANDUM

TO: Interested Parties

FROM:  Christine Oliver, HCA Deputy Commissioner

DATE:   November 26, 2008

SUBJECT: Changes in reporting format and structure for the Annual Statement Supplemental Report (ASSR)

Vermont law requires insurance carriers that conduct business in Vermont to submit an annual accurate and complete report of their business. Under 8 V.S.A. § 3561, the Commissioner may require the filing of supplemental information. Beginning January 2009, in an effort to collect the most accurate information regarding insurance coverage for Vermont residents, the Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) will collect additional information about health insurance policies sold to Vermont residents.

First, BISHCA will ask insurance companies to report information about insurance coverage provided to residents of Vermont regardless of whether the situs of the contract is in Vermont.  Thus, if a policy contract is issued outside of Vermont but covers Vermont residents, insurers must report information about this insurance coverage to the Department as part of its reporting obligation for the Annual Statement Supplement Report (ASSR).  In addition, the Department will collect information about lapsed policies for each type of insurance sold to Vermont residents.

For more information regarding this and other reporting changes to the ASSR please visit the following website:

Annual Statement Supplement Web-Based Reporting Instructions

If you have any questions, comments or concerns, please contact Spenser Weppler at 802-828-2915 or
spenser.weppler@state.vt.us.