Bulletin 2020 05 Electronic Submission and Extension of Time to May 1 2020 to File Documents that are Due by April 1 202
Division of Banking, Insurance and Financial Regulation #5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774.9458 1131 Kang Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719.3801 hetps://ltg.gov.vi BULLETIN 2020-05 TO: Insurance Companies Doing Business in the U.S. Virgin Islands RE: Electronic Submission and Extension of Time to May 1, 2020 to File Documents that are Due by April 1, 2020 The Office of the Lieutenant Governor, Division of Banking, Insurance and Financial Regulation (“Division”), understands that the day-to-day operations of many insurance companies are now being impacted by the Coronavirus/COVID-19 pandemic. The Division is currently assessing filing requirements, deadlines, and payment options for filing fees. Currently, there are documents that are required to be filed with our office by April 1, 2020, as is further noted in conditional letters that were previously sent to insurance companies. …
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Division of Banking, Insurance and Financial Regulation #5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774.9458 1131 Kang Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719.3801 hetps://ltg.gov.vi BULLETIN 2020-05 TO: Insurance Companies Doing Business in the U.S. Virgin Islands RE: Electronic Submission and Extension of Time to May 1, 2020 to File Documents that are Due by April 1, 2020 The Office of the Lieutenant Governor, Division of Banking, Insurance and Financial Regulation (“Division”), understands that the day-to-day operations of many insurance companies are now being impacted by the Coronavirus/COVID-19 pandemic. The Division is currently assessing filing requirements, deadlines, and payment options for filing fees. Currently, there are documents that are required to be filed with our office by April 1, 2020, as is further noted in conditional letters that were previously sent to insurance companies. These documents include, but are not necessarily limited to, the following: ¢ Management’s Discussion and Analysis e Accident and Health Policy Experience Exhibit (only required if company sells accident and health policies) Insurance companies should review the conditional letter that accompanied their Certificate of Authority for a complete listing of all documents that are due by April 1, 2020. Therefore, in consideration of the impact of the Coronavirus/COVID-19 pandemic on many insurance companies, the deadline for the submission of all documents that are due by April 1, 2020 is hereby extended to May 1, 2020. Be advised, however, that pursuant to Section 118 of Title 11 of the Virgin Islands Code, all of these filings may be submitted electronically, by emailing the documents to the following email address: beryl. freeman @]go.vi.gov. Bulletin 2020-05 Insurance companies can continue to submit these documents electronically, in lieu of a paper submission, unless the Division notifies companies that electronic submissions will no longer be accepted. The filing fee for any electronic submission may be paid separately by check, which can be mailed to the following address, with a cover letter that describes what the filing fee is for: Attention: Beryl Freeman Division of Banking, Insurance and Financial Regulation Office of the Lieutenant Governor 5049 Kongens Gade Charlotte Amalie, St. Thomas USVI 00802-6487 The Division will continue to accept paper submissions from any insurance company that prefers to make a paper filing instead of an electronic submission. The appropriate filing fee must accompany any paper submission to our office. The Division is currently working to allow insurance companies to submit additional filings and miscellaneous filing fees electronically through OPTins. Insurance companies will be notified once this process is complete, which will further help to facilitate the submission of required filings to our office. Questions regarding this Bulletin may be directed to the Division by calling Chery] Charleswell, Chief oT a Insurance, at (340) 774-7166. Dated this 4 day of March, 2020 at St. Thomas, U,S. Virgin Islands. Trege an Esq. = Lieu it Governor/Commissioner of Insurance