Paul Sanchez
Data calls are a process by which insurance regulators request information from insurance providers to gain insights into market conditions, assess the impact of various factors on solvency and investments, and evaluate the industry's strength and resilience. These data calls are often conducted by state departments of insurance, such as the North Carolina Department of Insurance (NCDOI) and the Texas Department of Insurance (TDI), to collect data on specific insurance types, including homeowners, unemployment, and health plans. The information gathered helps regulators understand the availability and affordability of coverage for consumers and make informed regulatory decisions.
| Characteristics | Values |
|---|---|
| Purpose | To obtain an understanding of the market, to help regulators better understand property markets and to determine which companies write short-term limited duration medical policies. |
| Data Collected | Underwriting and claims data (e.g. the number of policies, covered lives, claims paid and premium written), coverages and limitations for each form, methods and names of entities marketing and administering the form, billing and payment practices, etc. |
| Who They Apply To | Companies that are members of the North Carolina Rate Bureau, companies that write involuntary unemployment insurance in North Carolina, companies licensed to write business in any of the 40 participating states, etc. |
| Submission Due Dates | July 19, 2024, March 27, 2025, April 1, 2025, June 16, 2025, April 22, 2025, April 8, 2025, February 7, 2025, August 30, 2024, June 21, 2024, July 12, 2024, February 1, May 1, August 1, November 1, June 1, May 1 |
| Submission Guidelines | Use the provided template, send submissions to the designated email address, use the current Excel file without making any modifications except for inputting information, etc. |
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What You'll Learn
Data calls help regulators understand insurance markets
Data calls are a process by which regulators can gather information from insurance companies to understand market conditions and meet the needs of policyholders. In the United States, the National Association of Insurance Commissioners (NAIC) is responsible for issuing data calls to help state insurance departments regulate the industry and protect consumers.
For example, the NAIC issued a Short-Term Limited Duration (STLD) data call in 2018 to determine which companies were writing short-term limited duration medical policies in 40 participating states. This allowed regulators to understand the extent of the STLD market in each jurisdiction and make informed decisions about insurance regulation and consumer protection.
Similarly, the NAIC has also issued data calls to help regulators better understand property markets. State Departments of Insurance already have robust financial data on the impact of market forces on insurers' solvency and investments. However, granular data on the availability and affordability of coverage for consumers in specific areas is often lacking. By collecting this data, regulators can develop a long-term, robust data collection strategy to respond more effectively to inquiries related to property markets.
Data calls are also used to collect specific types of insurance data, such as workers' compensation, unemployment insurance, and health plan billing and payment practices. For instance, the Texas Department of Insurance (TDI) conducts quarterly balance billing data calls to gather information on the billing and payment practices of health plan issuers and licensing entities. Additionally, the TDI issued a data call in 2024 for the 2024 property direct written premium in the Texas catastrophe area, with responses due by June 16, 2025.
Overall, data calls are a crucial tool for insurance regulators to collect the information they need to understand insurance markets, make informed decisions, and protect consumers. By issuing data calls, regulators can ensure they receive accurate and meaningful data that aligns with their unique market conditions and regulatory needs.
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Data calls are used to understand the STLD market
Data calls are a process by which insurance regulators can gather information about the market. In the case of Short-Term Limited Duration (STLD) insurance, data calls are used to understand the extent of the STLD market in each jurisdiction.
STLD insurance, also known as Short-Term, Limited-Duration Insurance (STLDI), is a type of health insurance designed to fill temporary gaps in coverage when an individual transitions between plans. STLD plans are not subject to the same regulations as other health insurance plans, and are not considered "individual health insurance coverage" under the Public Health Service Act. This means they are not subject to federal individual market consumer protections and requirements for comprehensive coverage, including prohibitions on discrimination based on health status, pre-existing conditions, and lifetime or annual dollar limits on essential health benefits.
Due to these limitations in coverage, STLD plans cost less than ACA-compliant major medical health insurance policies. This affordability makes STLD plans appealing to consumers, but also raises concerns about consumer protection. In late 2017, President Trump issued an executive order to expand the availability of STLD plans, and in 2024, the Departments of Treasury, Labor, and Health and Human Services issued a new final rule reducing the allowable length of STLD plans and revising notice requirements. This rule was designed to help consumers better understand the difference between STLD and comprehensive coverage.
Data calls are a tool used by insurance regulators to collect information about STLD plans in their jurisdiction. By requiring companies to report on each STLD plan they market and sell, regulators can obtain an understanding of the extent of the STLD market in their state or territory. This information can then be used to develop regulatory strategies and ensure consumer protection. Ultimately, data calls are an important mechanism for insurance regulators to gather the information they need to effectively regulate the insurance industry and protect consumers.
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Data call requirements and responses
Data calls are a way for insurance regulators to collect information from insurance companies to help them understand the market and protect consumers. Data calls are often made by state insurance departments, which have the regulatory authority to gather, analyse, and use data about market conditions to meet the needs of policyholders.
Data Call Requirements
Data call requirements vary depending on the specific data call and the jurisdiction. Some data calls are specific to certain types of insurance, such as homeowner's insurance or short-term limited duration medical policies. Other data calls may be more general and apply to all companies with policies in force in a particular state.
For example, the North Carolina Department of Insurance (NCDOI) has issued data calls that apply to all companies with policies in force in the state, including property and casualty insurers, surplus line insurers, and town or county mutual insurers. The NCDOI also issued a data call specific to homeowner's insurance, which requires members of the North Carolina Insurance Underwriting Association to report the amount of homeowner's coverage, including separate coverage for wind and hail, written in the preceding calendar year.
Another example is the Short-Term Limited Duration (STLD) data call, which was sent to companies licensed to write business in any of the 40 participating states. This data call requires companies to report on each short-term limited duration medical plan it markets and sells in each jurisdiction, including underwriting and claims data such as the number of policies, covered lives, claims paid, and premium written.
Data Call Responses
Companies that are subject to a data call are typically required to submit their responses by a specific due date. Responses are usually submitted in a specific format, such as an Excel file or through an online survey platform.
For instance, the NCDOI data call for homeowner's insurance requires companies to submit their responses by April 1, 2025, using the current Excel file provided. The STLD data call also specifies that responses should be filed by product and by jurisdiction.
Companies that do not have any data to report may still be required to submit a notification of no business to report. For example, the STLD data call instructs companies that do not write any STLD business to send an email notification to the provided email address, including the company name and NAIC company code.
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Data call formats
Data calls are a request for information from insurance companies, usually made by a regulatory body. They are used to collect data on insurance policies, coverage, and claims, and can be specific to a particular type of insurance, such as homeowner's insurance or medical policies.
Templates:
Many regulatory bodies provide templates for insurance companies to use when submitting data. These templates ensure that all necessary information is provided in a consistent format, making it easier for regulators to compare and analyze the data. The templates often include sections for each type of data being requested, such as policy counts, coverage limits, and claims information.
Electronic Filing:
Data calls are often submitted electronically, either via email or through an online portal provided by the regulatory body. This allows for efficient collection and compilation of data from multiple sources. Standard file formats, such as Excel or PDF, may be specified to ensure compatibility and ease of data processing.
Confidentiality and Aggregate Data:
Data calls often contain confidential and proprietary information about insurance companies and their policies. To protect this sensitive information, regulatory bodies may require that only aggregate data, rather than individual company data, be published and posted on official websites. This aggregate data provides a summary of the collected information without disclosing specific details about individual companies or policies.
Specific Data Requests:
Data calls can vary in their level of specificity. Some calls may request broad information about policies and coverage, while others may focus on more specific details. For example, a data call related to short-term limited duration (STLD) medical policies may require companies to report on each STLD plan they market and sell, including underwriting and claims data, coverage limits, and marketing strategies.
Compliance and Penalties:
Data calls often have strict compliance requirements, with specific deadlines for submission. Non-compliance may result in regulatory penalties for insurance companies. Regulatory bodies may also provide guidance and support to help companies understand the data being requested and how to submit it correctly.
In summary, data call formats in the insurance industry are designed to collect specific information about insurance policies, coverage, and claims. The formats vary depending on the purpose of the data call but often include the use of templates, electronic filing, confidentiality measures, and specific data requests. Compliance with data calls is important to avoid penalties and ensure that regulatory bodies have the information they need to make informed decisions.
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Data call purposes
Data calls are a way for insurance regulators to collect information from insurance companies. They are often used to monitor the affordability and availability of insurance coverage, as well as to assess insurers' financial exposure to certain risks.
For example, the National Association of Insurance Commissioners (NAIC) issued a data call in 2018 to help regulators better understand property markets. The data call was focused on gathering information about short-term limited duration (STLD) medical policies, which can be written by Health, P&C, and Life companies. The purpose of this data call was to understand the extent of the STLD market in each jurisdiction and to collect information on the number of policies, covered lives, claims paid, and premium written, among other data points.
Data calls can also be used to collect information on specific types of insurance, such as terrorism risk insurance or workers' compensation insurance. For instance, beginning in 2016, insurance regulators in all states and the District of Columbia participated in a data call to collect information related to terrorism risk insurance. This data call was designed to monitor the affordability and availability of insurance coverage for acts of terrorism and to assess insurers' financial exposure to terrorism risk.
Additionally, data calls may be used to gather information on insurance coverage in specific regions or states. For example, the North Carolina Department of Insurance (NCDOI) has issued data calls related to homeowner policies, unemployment insurance, and coastal area homeowner coverage. These data calls are required by North Carolina statutes and help the state's insurance regulators ensure that insurance companies are meeting the needs of policyholders in the state.
Overall, the purpose of data calls in the insurance industry is to collect relevant information from insurance companies to inform regulatory decisions, protect consumers, and ensure the strength and resilience of the industry.
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Frequently asked questions
Data calls are made by insurance regulators to collect data from insurance companies. This data helps regulators understand market conditions and meet the needs of policyholders.
Data calls can include information on policies in force, covered lives, claims paid, and premium written. They may also collect data on the coverages and limitations of each form, as well as marketing and administration.
In the United States, data calls are often issued by the National Association of Insurance Commissioners (NAIC). The NAIC is a standard-setting organization governed by the chief insurance regulators from all 50 states, as well as Washington D.C. and five U.S. territories.
Insurance companies that have relevant data to report must respond to data calls. For example, a data call related to homeowner policies would require a response from insurance companies that offer homeowner coverage.
