§6451-A. Applicability to other regulated entities This chapter applies to fraternal benefit societies authorized to do business in this State pursuant to section 4124, to health maintenance organizations authorized to do business in this State pursuant to section 4204 and to nonprofit hospital or medical service organizations authorized to do business in this State pursuant […]
§6451. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1993, c. 634, Pt. A, §1 (NEW).] 1. Adjusted risk-based capital report. “Adjusted risk-based capital report” means a risk-based capital report that has been adjusted by the superintendent in accordance with section 6452, subsection […]
§6452. Risk-based capital reports 1. Duty to file. A domestic insurer shall, on or before March 1st, submit to the superintendent a report of its risk-based capital levels as of the end of the previous calendar year, in a form and containing such information as is required by the risk-based capital instructions. In addition, a […]
§6453. Company action level event 1. Company action level event; defined. “Company action level event” means any of the following events: A. The filing of a risk-based capital report by an insurer that indicates that: (1) The insurer’s total adjusted capital is greater than or equal to its regulatory action level risk-based capital […]
§6454. Regulatory action level event 1. Regulatory action level event; defined. “Regulatory action level event” means, with respect to any insurer, any of the following events: A. The filing of a risk-based capital report by the insurer that indicates that the insurer’s total adjusted capital is greater than or equal to its authorized control […]
§6455. Authorized control level event 1. Authorized control level event; defined. “Authorized control level event” means any of the following events: A. The filing of a risk-based capital report by the insurer that indicates that the insurer’s total adjusted capital is greater than or equal to its mandatory control level risk-based capital but less […]
§6456. Mandatory control level event 1. Mandatory control level event; defined. “Mandatory control level event” means any of the following events: A. The filing of a risk-based capital report that indicates that the insurer’s total adjusted capital is less than its mandatory control level risk-based capital; [PL 1993, c. 634, Pt. A, §1 […]
§6457. Hearings 1. Right to hearing. An insurer has the right to a departmental hearing, on record, at which the insurer may challenge any determination or action by the superintendent upon: A. Notification to an insurer by the superintendent of an adjusted risk-based capital report; [PL 1993, c. 634, Pt. A, §1 (NEW).] […]
§6458. Confidentiality and prohibition on announcements 1. Confidentiality. The following constitute information that might be damaging to the insurer if made available to its competitors and must be kept confidential by the superintendent: A. Risk-based capital reports, with respect to any domestic insurer or foreign insurer, that are filed with the superintendent, to the […]
§6459. Supplemental provisions 1. Existing authority supplemented. The provisions of this chapter are supplemental to any other provisions of the laws of this State and do not preclude or limit any other powers or duties of the superintendent under those laws, including, but not limited to, sections 417, 3423 and 3424 and chapter 57. […]
§6460. Foreign insurers 1. Submission of risk-based capital report. Upon the written request of the superintendent, a foreign insurer shall submit to the superintendent a risk-based capital report as of the end of the previous calendar year by the later of: A. The date a risk-based capital report would be required to be filed […]
§6461. Notices A notice by the superintendent to an insurer that may result in regulatory action under this chapter is effective upon dispatch if transmitted by registered or certified mail or, in the case of any other transmission, is effective upon the insurer’s receipt of the notice. [PL 1993, c. 634, Pt. A, §1 […]
