The Regulatory Division is charged with the registration of business entities, issuance of general business licenses such as sales or services, alcoholic beverage licenses and other regulated business licenses including insurance, securities, banking, real estate and recordation of secured transactions under the Guam Uniform Commercial Code
The Division is composed of the General Licensing and Registration Branch, the Compliance Branch, the Weights and Measures Branch and the Insurance, Securities, Banking and Real Estate Branch. The Division enforces compliance on persons who transact business in Guam without business licenses. The Division also regulates and supervises holders of business licenses for the protection of the consumers in Guam from unsafe and unfair business practices.
Guam Rate Review Filings
Minimum Requirements for Guam Rate Filing Submissions
Note: Any rate filing that does not include each of the four elements below will not be reviewed by the reviewing actuary. The rate review will be pended until all four elements are received.
When submitting a rate filing, please be mindful of the effective dates for the proposed rates, and the lead time needed between rate approval and enrollment. It is a violation of Guam Code to market rates that have not been approved:
§ 18501.1 Rate Approval: Health Insurance.
(a) No insurance rate, rate schedule, rate plans or methods of computing rates to be applied to any insurance transacted in Guam shall be advertised, publicized, charged or otherwise represented in Guam unless the rate, rate schedule, rate plan or method of computing rates is filed for approval with the Commissioner at least forty-five (45) days prior to its effective date, whichever occurs first.
These minimum requirements will be effective beginning with rates filed with 2018 effective dates.
The rate development should be provided in an Excel spreadsheet (with formulas shown and cells unprotected – do not provide text only). The rate development should show base period experience, trend, and any adjustments from the experience period to the rate effective period.
Base Period Experience
Incurred claims and premium used in the base period should be reconciled to amounts reported in the applicable year’s Annual Statement Supplemental Health Care Exhibit (SHCE) filing, with a demonstration of the reconciliation provided with the rate filing. SHCE incurred claims reference is Part 2, Line 2.15, earned premium is Part 2, Line 1.11. If the base period experience is a subset of the amounts shown in the SHCE, reconcile the subset amount to the total. For example, if a subset of all plans’ experience is used, demonstrate how the subset plans plus the unused plans’ experience totals to the amounts shown in the SHCE.
Demonstrate how the trend used was developed. Claims experience should reconcile to amounts in the applicable year’s (or years’) SHCE. The reconciliation should be performed in a manner similar to that conducted for base period experience.
Historical Plan Level Experience
For each renewing plan, provide plan level experience, with a demonstration of reconciliation to the SHCE data similar to that for base period experience and trend.
Health Insurance Companies:
- TOKIO MARINE PACIFIC INSURANCE LIMITED
- TAKECARE INSURANCE COMPANY, INC.
- NETCARE LIFE AND HEALTH INSURANCE COMPANY
- ISLAND HOME INSURANCE COMPANY
- AETNA HEALTH INSURANCE COMPANY
- UNITED HEALTHCARE INSURANCE COMPANY
Please direct input/comments on the rate increase filing to the following email addresses:
For more information, please call 671-635-1844/1845/7664.