General Interrogatories

JustinN-UNIC · #1 07-31-2009, 11:52 AM

I'm looking for some clarification...

The TCP instructions for the GI's note that "The General Interrogatories are required for the quarterly statement. Except as noted blow, report information for the current quarter". This would lead me to believe that only events that occured during the current quarter should be reported and if an event occured during a previous quarter it should be ignored.

However, there's a small note on the printed page of the GI's that reads "Responses to these interrogatories should be based on changes that have occured since prior year end unless otherwise noted." This would lead me to believe that if an event occured during a previous quarter but since the prior year end the event should still be noted in the GI's.

Is there any further clarification or rule of thumb most companies use?

Debbie · #2 07-31-2009, 01:37 PM

The TCP Instructions are are straight from the NAIC, but I see your confusion. According to what we understand:

The instructions for the quarterly General Interrogatories specify that, except for Common Interrogatory 14, the information reported relates to the current quarter only. Interrogatory 14 asks for the book/adjusted carrying values of investments in affiliates as of the previous year-end as well as of the current quarter-end.

Hope this helps.

JustinN-UNIC · #3 08-03-2009, 07:53 AM

What about GI Part 1 # 2.1 asking "Has any change been made during the year of this statement in the charter, by-laws, articles of incorporation, or deed of settlement of the reporting entity?"

Our company filed a by-laws amendment in the 1Q and answered this question "YES" in the 1Q. Would you suggest answering this question "NO" for the 2Q? The GI is again slighly unclear.

Thanks for the help.

Debbie · #4 08-03-2009, 08:10 AM

I would say that if you answered yes in the first quarter, you do not need to answer yes in the second quarter. However, you may answer yes, if you want, because question 2.2 does ask for the date of the change.

I would suggest that you check with your state of domicile and follow their recommendation.