Annual Convention Blank
 |
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. |
 |
Investopedia explains '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. |
Related Definitions
Articles Of Interest
-
Is Your Insurance Company Going Belly Up?
When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders. -
Are You Protected If Your Insurance Company Goes Belly-Up?
Consumer protection against insurance company failures actually falls into the hands of state governments. How much protection do you have? -
How An Insurance Company Determines Your Premiums
Find out how insurers use credit history to build an insurance score and how it could affect your bottom line. -
What happens to insurance policies and variable annuities if the insurance company itself goes bankrupt - do the policyholders get anything out of it?
The idea of an insurance failing or going bankrupt is one that can be very frightening. However, when an insurance company is in financial peril, there are state guaranty associations and state-run ... -
How do I choose which insurance company to use?
Picking an insurance company to use is not an easy task, considering the financial crisis of 2008 and 2009. Several financial institutions and insurance companies have gone out of business, merged ... -
5 Things You Should Know About The New Health Insurance Marketplace
Here are five things you should know about the new Health Insurance Marketplace (AKA Health Insurance Exchange), which launches on October 1. -
What changes might I need to make to my insurance policy?
The number one thing to remember about insurance is that, just like everything else, it changes over time. The top-of-the-line policy that you bought five years ago might not even be available ... -
The Beginner's Guide To Homeowners' Insurance
Discover everything new homeowners need to know before they sign on the dotted line. -
Life Insurance Clauses Determine Your Coverage
Understanding these key parts of your policy will help you to ensure that your family will be covered. -
Why would you want a monthly benefit versus a daily benefit?
An insurance benefit is the amount of money paid to or on behalf of the policyholder. Depending on what kind of insurance policy the policyholder signs up for, the payments are made directly ...
Free Annual Reports