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, Annuity, Health, Disability Income, Private Flood and Lender-Placed lines of business. The due date for submitting MCAS filings is April 30th of each year except Health. The due date for submitting Health 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 Disability
Private Flood
Individual Life Cash Value 
Private Passenger Automobile Individual Stand-Alone In-Exchange Auto Individual Voluntary

Stand-alone policies

Individual Life Non-Cash Value Products Homeowners Individual Life Hybrid Out-of-Exchange Home Individual Employer-Paid Endorsement to a Homeowners Policy

Individual Fixed Annuities
Individual Annuity Hybrid     Group Voluntary Endorsement to a Policy Other than Homeowners

Individual Variable Annuities

    Group Employer-Paid  

Following the annual company submission deadline, scorecards are produced and published (typically by July 1st for all lines of business except Health which are published by September 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: