Market Conduct Annual Statement (MCAS)
The Market Conduct Annual Statement (MCAS) provides regulators with market conduct information not otherwise available for their market analysis initiatives. The MCAS collects data on a state-specific, industry wide basis. The goal of the MCAS project is to provide a uniform system of collecting market-related information to help state insurance regulators monitor the market conduct of companies.
Pursuant to SC Code Sections 38-13-80, 38-13-85, and 38-13-160, all licensed insurers that write at least $50,000 in premiums in a line of business subject to MCAS reporting must participate. Currently, MCAS is used to collect claims and underwriting data on the Private Passenger Auto, Homeowners, Long Term Care, Life, and Annuity lines of business. The due date for submitting MCAS filings is April 30th of each year. It is expected that the Health line of business will be added for the 2017 data year (with the first MCAS submission due by June 30, 2018). For more information on future Health MCAS reporting plans, go to the NAIC’s Market Analysis Procedures (D) Working Group webpage.
In South Carolina, MCAS is a mandatory filing for the following lines of business:
|Life/ Annuity||Property/Casualty||Long-Term Care||Health|
|Individual Life Cash Value Products||Private Passenger Automobile||Individual Stand-Alone||Expected to be required in 2018 (for 2017 Data Year) and thereafter|
|Individual Life Non-Cash Value Products||Homeowners||Individual Life Hybrid|
|Individual Fixed Annuities||Individual Annuity Hybrid|
|Individual Variable Annuities|
- Private Passenger Auto 6 | 2015 | 2014 | 2013 | 2012
- Homeowners 6 | 2015 | 2014 | 2013 | 2012
- Life 6 | 2015 | 2014 | 2013 | 2012
- Annuity 6 | 2015 | 2014 | 2013 | 2012
- Long-term Care 6 | 2015 | 2014