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Regulatory Division


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.

These minimum requirements will be effective beginning with rates filed with 2018 effective dates.

Rate Development

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.

Trend

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

Consumer Input:

Please direct input/comments on the rate increase filing to the following email addresses:

For more information, please call 671-635-1844/1845/7664.


INSURANCE CONTINUING EDUCATION AVAILABLE COURSES

CLAIMS ADJUSTERS

LIFE AND HEALTH

PROPERTY AND CASUALTY

Contact Information

Alice P. Sebastian-Cruz

Regulatory Examiner Supervisor
Tel: (671) 635-1844
alice.cruz@revtax.guam.gov

Nemencio David Briones

Regulatory Examiner II
Insurance, Securities & Banking & Real Estate
Tel: (671) 635-1845
                  635-1844
                  635-7664
nemencio.briones@revtax.guam.gov

Maelinda Bayona

General Licensing Supervisor
Tel: (671) 635-1829
                  635-7670-7675
maelinda.bayona@revtax.guaam.gov

Raymond A. Leon Guerrero

Supervisor, Weights & Measure
Tel: (671) 635-1790
                  635-7660
                  635-7661
raymond.leonguerrero@revtax.guam.gov