| Issued and entered February 12, 2001 by Frank M. Fitzgerald,
Commissioner of Financial and Insurance Services
Pursuant to Section 438 of the Michigan Insurance
Code of 1956, as amended (the Code), MCL 500.438, MSA 24.1438,
and the Administrative Procedures Act of 1969, as amended, MCL
24.201 et. seq., MSA 3.560(101) et seq., the Commissioner
prescribes the format and content of statements that are suitable
and adaptable to each kind of insurer authorized or eligible
to transact business in Michigan. A statement filed by the
insurer shall be prepared in accordance with instruction provided
by, and accounting practices and procedures designated by, the
Commissioner.
By Order 00-086-M dated November 15, 2000
the Commissioner adopted the NAIC Accounting Practices and Procedures
Manual effective January 1, 2001, including appendices A – F
and excluding Actuarial Guideline XXXV in Appendix C. This
order applies to fire and casualty insurers, life, accident
and health insurers, non-U.S. insurers, title insurers and fraternal
benefit societies. For health maintenance organizations and
alternative financing and delivery systems and dental service
corporations, the Commissioner has delayed adoption of the NAIC
Accounting Practices and Procedures Manual with an effective
date of January 1, 2001. These entities will continue to follow
previous statutory accounting practices and procedures until
the Commissioner officially adopts the new manual for these
entities.
Filings submitted for reporting periods beginning
after January 1, 2001 shall comply with the NAIC Accounting
Practices and Procedures Manual effective January 1, 2001, to
the extent that the accounting practices, procedures, and reporting
standards are not modified by Michigan law, rules, orders, or
the 2000 Forms and Instructions for Required Filings in Michigan.
This bulletin supersedes Bulletin 97-10.
Any questions regarding this bulletin should be directed to:
Office of Financial and Insurance Services
Division of Insurance
Financial Evaluation
611 West Ottawa Street
P.O. Box 30220
Lansing, Michigan 48909-7720
Phone: (517) 373-0246
Toll Free (877) 999-6442
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