The Montana Commissioner of Securities and Insurance (CSI) published an advisory memorandum informing insurers that they are required to complete a certification form when making statistical reporting filings.
This advisory is supplemental to another published on July 25, 2023. After conducting an internal review, CSI discovered that there were significant compliance issues in rate filings.
To combat those issues, CSI required that all property and casualty rate and rule filings include a certification that the filings comply with Title 33 of the Montana Code and Chapter 6.6 of the Montana Administrative Rules, to the best of an officer's knowledge. The officer must also review the CSI P&C Rate/Rule Filing Guide available on their website.
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