Reporting Instructions- RRG – Office of the Commissioner of Securities and Insurance
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4. Filing Instructions:
One hard copy of the annual statement and one copy of quarterly statements
should be filed with the CSI. Additionally, one hard copy of all other financial filings
is required. See the attached “Montana Filing Checklist for Captive Insurers”
for further filing requirements and instructions.
5. Premium Tax Returns:
All Montana-domiciled captive insurers are required to file a Montana Premium Tax
Return no later than March 1 of each year.
The attached memorandum regarding OPTins discusses the filing of the Montana
Premium Tax Return by the March 1, 2020, due date. Please read it carefully.
6. Certificate of Authority Renewal:
Pursuant to Mont. Code Ann. § 33-28-102(4)(b), all licensed captive insurers shall
pay a Certificate of Authority (license) renewal fee of $300. The renewal fee is
incorporated into the Montana Premium Tax Return. The Commissioner may
suspend or revoke a captive’s license if the renewal fee is not paid by March 1.
7. Additional RRG Requirements and Filings:
a.) Each RRG is required to maintain a fidelity bond issued by an authorized
corporate surety in favor of the RRG. The Commissioner shall consider the captive
insurer's exposure, total assets, and total income in determining the bond amount.
To determine the required bond amount, refer to the calculation at Mont. Admin. R.
6.6.6601, available at the following link:
b.) RRGs that write medical malpractice insurance are required to complete the
Montana Medical Malpractice Professional Liability Experience Report.
c.) Mont. Code Ann. § 33-28-207(4)(b) requires RRGs to submit a Risk-Based
Capital Report to the Commissioner on or before each March 1 filing date.
d.) Pursuant to Mont. Code Ann. § 33-28-207(4)(c), an RRG that is part of a
holding company system shall file with the Commissioner on or before April 30 each
year, Forms B, C and F, as required in Mont. Code Ann. § 33-2-1111, available at
the following link: http://csimt.gov/insurance/captives
e.) Each RRG must annually submit a written assessment of the independence of
each member of the board of directors. This requirement and the criteria for a
determination of “independent” are set forth in Mont. Code Ann. §33-11-103(6).
This annual submission is due on or before April 1 each year.
8. CSI Contacts for Questions Regarding Filings: