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Insurance Bureau

Philip Barlow, Associate Commissioner for Insurance

The DISB Insurance Bureau:

  • Conducts on-site financial examinations on all domiciled insurance companies and monitors the financial solvency of insurance companies doing business in the District of Columbia;
  • Issues licenses to insurance companies, insurance producers and health maintenance organizations, and mediates disputes between consumers and insurance industry;
  • Handles issues relating to the review and approval of rates and policy forms of insurance products marketed in the District of Columbia;
  • Performs on-site examinations on the underwriting, policyholder service, claims, marketing, producer licensing and compliant handling processes of licensed companies to determine compliance with District of Columbia laws and industry practices; and
  • Monitors the activities of health maintenance organizations to determine compliance with pertinent District of Columbia and federal laws.

The Insurance Bureau consists of two offices and five divisions:

  • Office of the Insurance Associate Commissioner
  • Financial Examination Division
  • Property & Casualty Actuarial Division
  • Insurance Products Division
  • Agent, Broker and Insurer Licensing Division
  • Health Actuarial Division
  • Office of Health Insurance Policy


Office of the Insurance Associate Commissioner

  • Oversees the daily operations of the Insurance Bureau;
  • Plans and directs, in conjunction with the Insurance managers, a refined and well-coordinated insurance regulatory program;
  • Makes final determination on the licensing status of regulated entities; and
  • Recommends programs and courses to develop and train subordinates, evaluates subordinates, recommends promotions and reassignments.

Financial Examination Division:

  • Ensures that all licensed insurance companies, health maintenance organizations and continuing care retirement communities have sufficient capital and surplus to meet the requirements of District of Columbia law.

Financial Examination Division has two branches:

  • Financial Surveillance Branch
  • Financial Examination Branch


Financial Surveillance Branch:

  • Performs analysis and reviews on the annual and quarterly statutory financial statements  filed by domestic insurance companies, health maintenance organizations and continuing care retirement communities to determine compliance with District of Columbia laws, regulations, accounting standards and filing requirements;
  • Performs reviews of the audited financial statements, Management, Discussion and Analysis Statements, Actuarial Opinions, Risk Based Capital filings, holding company registration statements and SEC information for public companies;
  • Evaluate proposed affiliated transactions including documentation regarding the acquisition or merger with a domestic insurer and prior notice of a material transaction;
  • Reviews financial information, ratios and disclosures in order to monitor solvency and assess risks to determine priority ratings, identify adverse findings and to recommend regulatory action; and
  • Evaluates the financial condition of foreign and alien companies seeking to operate in the District of Columbia. 


Financial Examination Branch:

  • Conducts financial examinations of domestic insurance companies, health maintenance organizations and continuing care retirement communities to ensure that entities doing insurance business in the District of Columbia are in compliance with its insurance laws, regulations and statutory accounting principles;
  • Prioritizes companies for examination, prepares and reviews planning and examination work papers, and prepares examination reports in accordance with District of Columbia statutes and NAIC Examination Procedures; and
  • Identifies adverse findings and recommends regulatory action.


Property & Casualty Actuarial Division:

  • Analyzes rating rules, rate manuals and rating schedules issued by insurance companies;
  • Conducts actuarial and statistical analysis for the proper analysis of rate increase requests, and maintains a database for claims and investment experience;
  • Performs reviews on the actuarial opinions provided by domestic companies;
  • Assists the Financial Examination Division during the examination process by evaluating the loss and loss reserve methodology used by the company;
  • Prepares an analysis report of the premium rates charged by automobile liability insurance companies in our jurisdiction; and
  • Prepares reports as requested on all lines of business underwritten in the District.

 

Insurance Products Division:

  • Analyzes rate and policy forms pertaining to approximately twenty-nine (29) lines of insurance to determine compliance with D.C. statutes;
  • Performs on-site examinations and analyses of licensed insurance companies, health maintenance organizations and insurance producers;
  • Conducts examinations of premium finance companies and surplus line brokers to ensure compliance with D.C. Code; and
  • Determines if Free Clinics located in the District of Columbia meet the requirements for liability coverage assistance outlined in the Free Clinic Assistance Program.
  • Reviews all types of insurance and health maintenance organizations policy forms and actuarial memoranda to determine whether they conform to D.C. insurance laws and regulations;
  • Administers the statutory requirements concerning the prohibition of discrimination based on AIDS;
  • Determines if the nonforfeiture benefits and cash surrender values of life insurance policies meet the minimum statutory standards; and
  • Enforces the flesh reading scores requirements on all insurance policy forms.

Producer and Insurer Licensing:

  • Governs the licensing of insurance companies, fraternal benefit organizations, insurance producers, insurance agencies and Premium Finance Companies, Continuing Care Retirement Facilities, as well as Health Maintenance Organizations operating in the District of Columbia;
  • Administers written examinations to candidates for bail bondsmen and public insurance adjusters; oversees the administration of producer licensure examinations;
  • Maintains and updates the licensing database;
  • Registers foreign risk retention and domestic and foreign purchasing groups pursuant to the Liability Risk Retention Act of 1986;
  • Provides licenses to Managing General Agents and Reinsurance Intermediaries;
  • Plans and implements the comprehensive pre-licensing and continuing education programs for insurance producers; and
  • Establishes requirements and review and processes applications for continuing education providers.

Health Actuarial Division:

  • Analyzes rating rules, rate manuals and rating schedules issued by health insurers and health maintenance organizations;
  • Conducts actuarial and statistical analysis for the proper analysis of rate increase requests, and maintains a database for claims and investment experience;
  • Performs reviews on the actuarial opinions provided by health insurance providers;
  • Ensures that all applicable health filings are in compliance with the Patient Protection Affordable Care Act or PPACA standards;
  • Assists other internal departments within the agency on matters involving insurance rates;
  • Administers the department’s health insurance rate review process;
  • Responds to public correspondence on received health insurance rate filings; and
  • Prepares reports as requested on all lines of health insurance underwritten in the District.

Office of Health Insurance Policy:

  • Develops policy recommendations for the Mayor’s Health Reform Implementation Committee (HRIC) as well as the D.C. Health Benefit Exchange Executive Board pursuant to enactment of the Affordable Care Act;
  • Enforces rate making regulations and prohibitions on underwriting enacted in 2011 pursuant to the federal health reform act; and
  • Works closely with the Health Care Reform and Innovation Administration (HCRIA) within the Department of Health Care Finance to coordinate implementation of the D.C. Health Benefit Exchange insurance marketplace.