NAIC Compliance - Third Party Biographical Affidavit Verifications

Relax - We're on it.

And we're NAIC Compliant.

You understand that independent verification of NAIC Biographical Affidavits is critical to the Uniform Certificate of Authority Application (UCAA) process.

Accordingly, you have one goal for every Biographical Affidavit that hits your desk:

Deal with it. Fast.

Our recommendation: Get it to Heartland.

Approved by the NAIC as an independent third party investigative background report provider in all 50 states and the District of Columbia, Heartland has also passed the additional approval processes in the States of Florida and Ohio.

Heartland Investigative Group, based in downtown Minneapolis, has been the recognized market leader in due diligence investigations, including mandatory regulatory investigations, since 1991. Our licensed, proven Senior Investigators specialize in sophisticated background profiles.

Heartland verification is an easy, three step process:

1. Email, fax or mail copies of the Biographical Affidavits to our downtown Minneapolis Office.
2. Indicate the state regulatory authority or authorities to receive the verification report.
3. We'll notify you when we send the report.

Frequently Asked Questions

Q. If you discover problems or misstatements, can you tell us before you send the verification report to the insurance regulator?

A. No. UCAA requires us to forward reports directly to the regulator.

Q. If we apply to another state, can we use the same verification report?

A. In most cases, yes. Most states accept reports created within the last six months. Your Heartland representative can clarify this based on the specific states you are applying to.

Q. How long does it take Heartland to complete a report?

A. Usually between 1 - 2 weeks.

Q. Does Heartland have international capabilities?

A. Yes, as required by NAIC.

Q. Who must submit the NAIC Biographical Affidavit?

A. All officers, directors and key managers as well as individuals with a 10% or more beneficial ownership in the applicant or the applicant's ultimate controlling parent ("Affiant").

Q. What kind of information does the Affidavit contain?

A. Employment and credit history, general reputation, education, personal information and character. The Affidavit also contains a Disclosure & Authorization Form permitting the background investigation by an Independent Third Party such as Heartland.

Q. What is an Independent Third Party?

A. NAIC defines Independent Third Party as:

• A consumer reporting agency (CRA) by the Federal Trade Commission (FTC) and therefore subject to the FCRA.
• Having the ability to perform international background checks.
• One whose officers and directors have no material affiliation with the applicant other than stock ownership amounting to less than 1% of total stock outstanding, unless prior approval is granted by the relevant department of insurance.
• Compliant with the NAIC and/or such state(s) where the application is being made.

Q. Are the background reports subject to the Fair Credit Reporting Act (FCRA)?

A. Yes. Pursuant to FCRA, the state departments of insurance and the applicant are considered 'users' of consumer reports. (The FCRA requires that the Affiant be provided with a copy of the summary). You can find the Summary at the Federal Trade Commission web site: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre35.pdf.

Q. How do I contact Heartland and get these Affidavits off my desk?

A. Easy. Just call or email.