TABLE OF CONTENTS - Virginia SCC
MARKET CONDUCT EXAMINATION REPORT OF
GEICO ADVANTAGE INSURANCE COMPANY GEICO CASUALTY COMPANY
GEICO CHOICE INSURANCE COMPANY GEICO GENERAL INSURANCE COMPANY
GEICO INDEMNITY COMPANY GEICO SECURE INSURANCE COMPANY GOVERNMENT EMPLOYEES INSURANCE COMPANY
AS OF
MARCH 31, 2015
COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION
BUREAU OF INSURANCE
Property and Casualty Division Market Conduct Section
SCOTT A. WHITE COMMISSIONER OF INSURANCE STATE CORPORATION COMMISSION
BUREAU OF INSURANCE
STATE CORPORATION COMMISSION BUREAU OF INSURANCE
P.O. BOX 1157 RICHMOND, VIRGINIA 23218
1300 E. MAIN STREET RICHMOND, VIRGINIA 23219
TELEPHONE: (804) 371-9741 scc.boi
I, Andrea D Baytop, Principal Insurance Market Examiner of the Bureau of Insurance, do hereby certify that the annexed copy of the Market Conduct Examination Report of GEICO Advantage Insurance Company, GEICO Casualty Company, GEICO Choice Insurance Company, GEICO General Insurance Company, GEICO Indemnity Company, GEICO Secure Insurance Company and Government Employees Insurance Company as of March 31, 2015, conducted at the companies' office in Virginia Beach, Virginia, is a true copy of the original Report on file with the Bureau and also includes a true copy of the companies' response to the findings set forth therein, and a true copy of the Bureau's review letters and the State Corporation Commission's Order in Case Number INS-2018-00032 finalizing the Report.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the Bureau at the City of Richmond, Virginia, this 30th of April, 2018.
____________________________ Andrea D. Baytop Examiner in Charge
MARKET CONDUCT EXAMINATION REPORT OF
GEICO ADVANTAGE INSURANCE COMPANY GEICO CASUALTY COMPANY
GEICO CHOICE INSURANCE COMPANY GEICO GENERAL INSURANCE COMPANY
GEICO INDEMNITY COMPANY GEICO SECURE INSURANCE COMPANY GOVERNMENT EMPLOYEES INSURANCE COMPANY
AS OF
MARCH 31, 2015
COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION
BUREAU OF INSURANCE
Property and Casualty Division Market Conduct Section
TABLE OF CONTENTS
INTRODUCTION .............................................................................................................. 1 COMPANY PROFILES ..................................................................................................... 1 SCOPE OF THE EXAMINATION ...................................................................................... 5 STATISTICAL SUMMARY ................................................................................................ 6 PART ONE - THE EXAMINERS' OBSERVATIONS .......................................................... 8
RATING AND UNDERWRITING REVIEW....................................................................... 8 Automobile New Business Policies ............................................................ 8 Automobile Renewal Business Policies...................................................... 8
TERMINATION REVIEW ............................................................................................. 10 Company-Initiated Cancellations ? Automobile Policies ............................. 10 Notice Mailed Prior to the 60th Day of Coverage ............................. 10 Notice Mailed After the 59th Day of Coverage ................................. 10 All Other Cancellations ? Automobile Policies ............................................ 11 Nonpayment of the Premium .......................................................... 11 Requested by the Insured .............................................................. 11 Rejected Applications ? Automobile Policies.............................................. 12 Company-Initiated Non-renewals ? Automobile Policies ............................ 12
CLAIMS REVIEW ...................................................................................................... 12 Private Passenger Automobile Claims ....................................................... 12
REVIEW OF FORMS.................................................................................................. 16 Automobile Policy Forms ........................................................................... 17 Policy Forms Used During the Examination Period ........................ 17 Policy Forms Currently Used .......................................................... 17
REVIEW OF THE POLICY ISSUANCE PROCESS ............................................................ 17 Automobile Policies.................................................................................... 18 New Business Policies ................................................................... 18 Renewal Business Policies............................................................. 18
COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION
BUREAU OF INSURANCE
REVIEW OF STATUTORY NOTICES ............................................................................ 18 General Statutory Notices .......................................................................... 19 Statutory Vehicle Notices ........................................................................... 19 Other Notices............................................................................................. 19
LICENSING AND APPOINTMENT REVIEW .................................................................... 20 Agent ......................................................................................................... 20 Agency....................................................................................................... 20
REVIEW OF THE COMPLAINT-HANDLING PROCESS..................................................... 20 REVIEW OF PRIVACY AND INFORMATION SECURITY PROCEDURES .............................. 20 PART TWO ? CORRECTIVE ACTION PLAN ................................................................... 21
General...................................................................................................... 21 Rating and Underwriting Review ................................................................ 21 Termination Review ................................................................................... 22 Claims Review ........................................................................................... 23 Forms Review ............................................................................................ 24 Review of Policy Issuance Process............................................................ 24 Review of Statutory Notices ....................................................................... 25 PART THREE ? EXAMINERS' RECOMMENDATIONS .................................................... 26 RECOMMENDATIONS ............................................................................................... 26 Rating and Underwriting............................................................................. 26 Termination................................................................................................ 27 Claims........................................................................................................ 28 Forms ........................................................................................................ 29 Statutory Notices........................................................................................ 29 SUMMARY OF PREVIOUS EXAMINATION FINDINGS...................................................... 29 ACKNOWLEDGEMENT.................................................................................................... 32
COMMONWEALTH OF VIRGINIA STATE CORPORATION COMMISSION
BUREAU OF INSURANCE
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