| Q: |
CAN WE REQUEST AN
EXTENSION ON THE CALLS’ REQUIRED DUE DATE? |
| A: |
The DCRB will not grant
an extension for any reason. All
calls must be received prior to or on the required due date. |
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| 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 DCRB 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.
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| 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 subject to the Financial Data
Incentive Program to the DCRB.
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|
| Q: |
What Calls are to be reported through the FDRA? |
| A: |
The Calls that are to be reported through the FDRA are Calls
#1, 2, 8, 9 and 12, the Acknowledgement Form and the Exhibit of
Premiums and Losses (Statutory Page 14) – Page 24 of the Annual
Statement.
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| 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 DCRB in writing and
set forth all factors hindering their ability to use the FDRA.
The DCRB will review this request and will notify carriers
within 14 days of a final decision regarding an alternative method of
reporting. |
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| 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 DCRB’s
analysis in the preparation of rate and/or loss cost filings. |
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| Q: |
CAN WE CHANGE OUR
DESIGNATED CONTACT PERSON? |
| A: |
Yes.
A carrier may change their Designated Contact Person at any
time. Simply notify the
DCRB 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. |
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| 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 DCRB criticism
letter may be avoided.
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| Q: |
WHERE
CAN I GET A COPY OF THE INSTRUCTIONS OR FORMS FOR A FINANCIAL CALL? |
| A: |
Copies of the
instructions for all calls can be accessed and/or printed from the
DCRB’s web site. Forms
for Calls #3, 4 and 6 are likewise available.
All Forms subject to the FDIP must be accessed through the FDRA. |