Reports & Papers-An Underwriter’s Guide to State Rate, Rule, and Form Filings (2025)

Pdf Summary

This document is the "Underwriter’s Guide to State Rate, Rule, and Form Filings" prepared by the Inland Marine Underwriters Association (IMUA) Legislative & Regulatory Affairs Committee. It provides a comprehensive, state-by-state reference on the filing requirements related to Inland Marine insurance forms, rates, and rules across all 50 U.S. states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, updated through 2025.

Key points include:

- <strong>IMUA Overview</strong>: IMUA is a national insurance trade association representing underwriters and related industry entities. Its publications, including this guide, aim to inform members about underwriting, claims, and regulatory issues without providing legal advice or prescribing underwriting practices.

- <strong>Guide Purpose and Scope</strong>: The guide summarizes the filing requirements for Inland Marine insurance forms (policy forms and endorsements) and rate/rule filings, noting exemptions, citations, and additional state-specific rules. The guide draws from statutes and regulations current as of 2025 but advises users to consult the latest official sources since regulations may change.

- <strong>Nationwide Marine Definition</strong>: Many states use the 1976 NAIC Nationwide Marine Definition (NMD) to identify Inland Marine classes, though some states maintain unique definitions or exceptions (e.g., California, New York, Texas).

- <strong>Filing Requirements Overview</strong>: Generally, states require forms and rates to be filed with the state insurance department either for prior approval or under file-and-use laws. However, exemptions are common, especially for inland marine risks that are "specially rated," "unique," or "not written according to manual rates or rating plans." States differ widely: some require strict prior approval of all forms and rates, others exempt certain classes or allow use-and-file, and a few have broad exemptions for commercial inland marine insurance.

- <strong>Examples of State Requirements</strong>: 
  - Alabama requires filing of forms and rates but exempts special risk forms and non-manual rated inland marine risks.
  - California requires filing of all forms and rates with no noted exemptions.
  - Florida exempts commercial inland marine insurance forms and rates from filing.
  - New York requires filing of forms and rates but exempts certain classes not written according to manual rating plans, with ongoing regulatory reviews noted.
  - Texas distinguishes between regulated and non-regulated inland marine classes with filing required only for regulated classes.
  - Rhode Island and Missouri broadly exempt commercial inland marine from form and rate filings.
  - Several states (e.g., Virginia) require filing for enumerated inland marine classes but exempt large commercial risks or manuscript forms.

- <strong>Additional Notes</strong>: The guide stresses that companies should interpret requirements based on actual statutes and seek legal advice as necessary. It is maintained online with updates provided by volunteer committee members.

This guide serves as a vital, practical resource for underwriters, compliance officers, and insurance professionals navigating the complex and varied state regulatory landscape for Inland Marine insurance filings.

Asset Caption

A digest of the form and rate/rule filing requirements for Inland Marine insurance in all fifty states, the District of Columbia, Puerto Rico, and the US Virgin Islands.

Keywords

Inland Marine Insurance

State Filing Requirements

IMUA Guide

Insurance Forms

Rate and Rule Filings

Nationwide Marine Definition

State Insurance Regulations

Prior Approval

File-and-Use Laws

Commercial Inland Marine Exemptions