Annual Convention Blank

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DEFINITION of 'Annual Convention Blank'

The annual report that insurance carriers must file with the state insurance commissioner. This report will outline the carrier's current reserves, employees making over $40,000 a year, expenses and assets, among other things. The annual convention blank must be filed in order to show that a carrier is financially capable of doing business within the state.

BREAKING DOWN 'Annual Convention Blank'

Annual convention blanks must be filed with the commissioner of each state in which a carrier transacts business. Bascially, this form allows the state to determine whether or not the insurance company has adequate reserves to pay out benefit payments as they come due.

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