Market Conduct Annual Statement (MCAS)

**Due to hardships caused by COVID-19, the Market Analysis Procedures (D) Working Group has decided to extend all 2019 data year MCAS filing deadlines 60 days: 

  • MCAS submissions due for all lines of business except Disability Income and Health by June 30, 2020. 
  • MCAS submissions due for Disability Income and Health by August 31, 2020

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, Annuity, Health, and Lender-Placed lines of business. The due date for submitting MCAS filings is April 30th of each year. The due date for submitting Health and Lender-Placed is June 30th of each year.  For more information on MCAS reporting plans, go to the NAIC’s Market Analysis Procedures (D) Working Group webpage or the Market Conduct Annual Statement Blanks (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                  Lender-                             Placed 
Individual Life Cash Value Products Private Passenger Automobile Individual Stand-Alone In -Exchange           Auto
Individual Life Non-Cash Value Products Homeowners Individual Life Hybrid Out-of-Exchange      Home
Individual Fixed Annuities
Individual Annuity Hybrid
Individual Variable Annuities

Following the annual company submission deadline, scorecards are produced and published (typically by July 1st) to show the statewide ratio and the distribution of ratios for all companies filing an MCAS in a given state. Consumers can review this information to better understand the overall activities of insurers operating within the state. While company-specific submissions are confidential and not publicly reportable, the Department encourages companies to review their own submissions and ratios as compared to the aggregated data available in the state scorecards in order to gain a better understanding of where they fit in the insurance marketplace and what opportunities may exist to improve their performance. The Market Analysis Procedures Working Group decided not to publish the individual state Health aggregated scorecard results because smaller states have a limited number of carriers or only a single carrier, and since demographics have not changed to date, the scorecard ratios should not be publicly available.

South Carolina Scorecards: 

To view the most recent scorecards for other participating MCAS states,
please visit the NAIC’s MCAS website (click here).

Related Materials and Resources: