11 NCAC 12 .1021             REPORTING

Each insurer shall on a statewide basis:

(1)           Maintain records for each agent of that agent's amount of replacement sales as a percent of the agent's total annual sales.

(2)           Maintain records of the amount of lapses of long‑term care insurance policies sold by agents as a percent of the agent's total annual sales.

(3)           Report annually by June 30th the 10 percent of its agents with the greatest percentages of lapses and replacements.

(4)           Report annually by June 30th the number of lapsed policies as a percent of its total annual sales and as a percent of its total number of policies in force as of the end of the preceding calendar year.

(5)           Report annually by June 30th the number of replacement policies sold as a percent of its total annual sales and as a percent of its total number of policies in force as of the end of the preceding calendar year.

 

History Note:        Authority G.S. 58‑2‑40(1); 58‑55‑30(a); 58‑2‑195(a);

Eff. December 1, 1992.