As used in this subchapter: (1) “Adjusted RBC report” means an RBC report that has been adjusted by the Insurance Commissioner in accordance with § 23-63-1502(d); (2) “Corrective order” means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required; (3) “Domestic health organization” means: (A) A health maintenance […]
(a) (1) On or before each March 1, the “filing date”, a domestic health organization shall prepare and submit to the Insurance Commissioner a report of its RBC levels as of the end of the calendar year just ended, in a form and containing the information required by the RBC instructions. (2) A domestic health […]
(a) “Company action level event” means any of the following events: (1) The filing of an RBC report by a health organization that indicates that the health organization’s total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; (2) For the year ending […]
(a) “Regulatory action level event” means, with respect to a health organization, any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization’s total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory action level […]
(a) “Authorized control level event” means any of the following events: (1) The filing of an RBC report by the health organization that indicates that the health organization’s total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; (2) The notification by the […]
(a) “Mandatory control level event” means any of the following events: (1) The filing of an RBC report that indicates the health organization’s total adjusted capital is less than its mandatory control level RBC; (2) The notification by the Insurance Commissioner to the health organization of an adjusted RBC report that indicates the event in […]
On the occurrence of the following events the health organization shall have the right to a confidential departmental hearing, on a record, at which the health organization may challenge a determination or action by the Insurance Commissioner. The health organization shall notify the commissioner of its request for a hearing within five (5) days after […]
(a) An RBC report, to the extent the information is not required to be stated in a publicly available annual statement schedule, and RBC plans, including the results or report of an examination or analysis of a health organization performed under this subchapter and a corrective order issued by the Insurance Commissioner under examination or […]
(a) The provisions of this subchapter are supplemental to the other provisions of the laws of this state and shall not preclude or limit any other powers or duties of the Insurance Commissioner under those laws. (b) The commissioner may adopt reasonable rules necessary for the implementation of this subchapter. (c) The commissioner may exempt […]
(a) (1) On the written request of the Insurance Commissioner, a foreign health organization shall submit to the commissioner an RBC report as of the end of the calendar year just ended that is the later of: (A) The date an RBC report would be required to be filed by a domestic health organization under […]
There shall be no liability by and no cause of action shall arise against the Insurance Commissioner or the State Insurance Department or its employees or agents for any action taken by them in the performance of their powers and duties under this subchapter.
A notice by the Insurance Commissioner to a health organization that may result in regulatory action under this subchapter is effective upon: (1) Dispatch if transmitted by certified mail; or (2) The health organization’s receipt of notice in the case of any other transmission.
(a) If the Insurance Commissioner finds after a hearing conducted in accordance with § 23-61-301 et seq. that a health organization has violated this subchapter, the commissioner may order: (1) For each separate violation, a penalty of one thousand dollars ($1000) or, if the commissioner has found willful misconduct or willful violation, five thousand dollars […]
