Division of Banking, Insurance and

Financial Regulation



#5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774.9458

1131 Kang Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719.3801

hetps://ltg.gov.vi



BULLETIN 2020-05



TO: Insurance Companies Doing Business in the U.S. Virgin Islands



RE: Electronic Submission and Extension of Time to May 1, 2020 to File Documents that

are Due by April 1, 2020



The Office of the Lieutenant Governor, Division of Banking, Insurance and Financial

Regulation (“Division”), understands that the day-to-day operations of many insurance companies



are now being impacted by the Coronavirus/COVID-19 pandemic. The Division is currently

assessing filing requirements, deadlines, and payment options for filing fees.



Currently, there are documents that are required to be filed with our office by April 1, 2020,

as is further noted in conditional letters that were previously sent to insurance companies. These

documents include, but are not necessarily limited to, the following:



¢ Management’s Discussion and Analysis



e Accident and Health Policy Experience Exhibit (only required if company sells accident

and health policies)



Insurance companies should review the conditional letter that accompanied their Certificate of

Authority for a complete listing of all documents that are due by April 1, 2020.



Therefore, in consideration of the impact of the Coronavirus/COVID-19

pandemic on many insurance companies, the deadline for the submission of all

documents that are due by April 1, 2020 is hereby extended to May 1, 2020.



Be advised, however, that pursuant to Section 118 of Title 11 of the Virgin Islands Code,

all of these filings may be submitted electronically, by emailing the documents to the following



email address: beryl. freeman @]go.vi.gov.

Bulletin 2020-05

Page 2 of 2



Insurance companies can continue to submit these documents electronically, in lieu of a

paper submission, unless the Division notifies companies that electronic submissions will no

longer be accepted.



The filing fee for any electronic submission may be paid separately by check, which can

be mailed to the following address, with a cover letter that describes what the filing fee is for:



Attention: Beryl Freeman



Division of Banking, Insurance and Financial Regulation

Office of the Lieutenant Governor



5049 Kongens Gade



Charlotte Amalie, St. Thomas USVI 00802-6487



The Division will continue to accept paper submissions from any insurance company that

prefers to make a paper filing instead of an electronic submission. The appropriate filing fee must

accompany any paper submission to our office.



The Division is currently working to allow insurance companies to submit additional

filings and miscellaneous filing fees electronically through OPTins. Insurance companies will be

notified once this process is complete, which will further help to facilitate the submission of

required filings to our office.



Questions regarding this Bulletin may be directed to the Division by calling Chery]

Charleswell, Chief oT a Insurance, at (340) 774-7166.



Dated this 4 day of March, 2020 at St. Thomas, U,S. Virgin Islands.



Trege an Esq. =

Lieu it Governor/Commissioner of Insurance