The Surety & Fidelity Association of America ("SFAA") is licensed in all jurisdictions, with the exception of Texas, as a Statistical Reporting Agent for the fidelity and surety lines of business. SFAA compiles statistical reports for the fidelity and surety lines of business including rankings of fidelity and surety writers based on premium volume, underwriting expense data, and industry premium and loss results for specific fidelity and surety bonds. Information about reporting data to SFAA, including the SFAA Fidelity and Surety Statistical Plan, and descriptions of SFAA statistical reports are available by using the links on the left under "Statistical Services".
View all Statistical Services What's New postings.
An overview of statutory and regulatory provisions governing statistical filing requirements is provided for reference - Statutory and Regulatory Provisions Governing Statistical Filing Requirements
Statistical Services - Items of Interest
- Texas Department of Insurance: The changes to the fidelity and surety premium and loss experience reporting in the revised TCLSP standardize the manner in which fidelity and surety insurers report premium and loss experience. Commissioner's Bulletin to All Insurers Writing Commercial Lines in Texas RE Adoption of the Texas Commercial Lines Statistical Plan (12/1/2009)
- California Prior Approval Ratemaking Regulations: SFAA member companies, whether adopting our advisory loss costs or filing independent rates, should note that Surety and Fidelity were designated as Specialty Insurance in ratemaking regulations promulgated by the California Department of Insurance in May, 2008. This means surety and fidelity rate filings are exempt from the restrictive sections for credibility, loss development, expenses and the other mandatory standards. As Specialty lines, surety and fidelity rates are to be filed using the most actuarially sound standards.
- Virginia has adopted the National Association of Insurance Commissioner's (NAIC) forms for loss cost filings for lines of insurance other than workers' compensation. As of January 1, 2007 filers will be required to use the NAIC PC IRF form, Calculation of Company Loss Cost Multiplier. Please refer to Virginia Administrative Letter 2006-16 for complete information (http://www.scc.virginia.gov/division/boi/webpages/adminlets/06-16.pdf). Also review Administrative Letter 2006-15 for changes regarding Schedule Rating Plans (http://www.scc.virginia.gov/division/boi/webpages/adminlets/06-15.pdf).
- The State of Washington's Office of the Insurance Commissioner adopted new rules on July 16, 2006, regarding the reporting of statistical data. Please note that WAC 284-24B-040 (3) states, "each insurer filing rates under chapter 48.19 RCW must include the name of its statistical agent for that line of insurance." The SFAA has been designated a statistical agent for the Surety, Fidelity, and Financial Guaranty lines of business by Washington. Members and statistical filers should make certain they are complying with these new rules, and name the SFAA as its statistical agent, to prevent disruption in the reporting and collection of Washington State data (http://www.insurance.wa.gov/oicfiles/rules/new/R_2005-02.pdf).
- Loss Severity Study and Model Available: The SFAA has completed the 2010 update to the industry Construction Loss Severity Study. SFAA Members click here for more information. Non-members click here for ordering instructions.