Terrorism Data Call Affects P&C Insurers
The National Association of Insurance Commissioners (NAIC) has issued a data call in all states and the District of Columbia aimed at collecting information on terrorism risk insurance. The Texas Department of Insurance (TDI) has issued a bulletin with information about the data call, as well.
Previously, information was recorded separately by the states and the Department of the Treasury. Effective 2018, companies subject to the data call will be able to submit the same information to both the Treasury and the states through Joint Reporting Templates. Companies must also provide a State Property Supplement with ZIP code-level data on property exposures.
Information submitted to the Treasury must be transmitted via secure file transfer protocol (SFTP). Data collected by the states should be submitted to the New York State Department of Financial Services, which is serving as a single point of collection for the data call.
The Joint Reporting Template is due May 15, 2018, and the State Property Supplement is due September 30, 2018.