41-5401. DEFINITIONS. As used in this chapter, these terms shall have the following meanings: (1) "Adjusted RBC report" means an RBC report which has been adjusted by the director in accordance with section 41-5402(5), Idaho Code. (2) "Corrective order" means an order issued by the director specifying corrective actions which the director has determined are […]
41-5402. RBC REPORTS. (1) Every domestic insurer shall, on or prior to each March 1 (the "filing date"), prepare and submit to the director a report of its RBC levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC instructions. In […]
41-5403. COMPANY ACTION LEVEL EVENT. (1) "Company action level event" means any of the following events: (a) The filing of an RBC report by an insurer which indicates that: (i) The insurer’s total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; or […]
41-5404. REGULATORY ACTION LEVEL EVENT. (1) "Regulatory action level event" means, with respect to any insurer, any of the following events: (a) The filing of an RBC report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory […]
41-5405. AUTHORIZED CONTROL LEVEL EVENT. (1) "Authorized control level event" means any of the following events: (a) The filing of an RBC report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC; (b) The […]
41-5406. MANDATORY CONTROL LEVEL EVENT. (1) "Mandatory control level event" means any of the following events: (a) The filing of an RBC report that indicates that the insurer’s total adjusted capital is less than its mandatory control level RBC; (b) Notification by the director to the insurer of an adjusted RBC report that indicates the […]
41-5407. HEARINGS. Upon any of the following the insurer shall have the right to a confidential departmental hearing, on a record, at which the insurer may challenge any determination or action by the director. The insurer shall notify the director of its request for a hearing within five (5) days after the notification by the […]
41-5408. CONFIDENTIALITY — PROHIBITION ON ANNOUNCEMENTS, PROHIBITION ON USE IN RATEMAKING. (1) All RBC reports, to the extent the information therein is not required to be set forth in a publicly available annual statement schedule, and RBC plans, including the results or report of any examination or analysis of an insurer performed pursuant hereto and […]
41-5409. SUPPLEMENTAL PROVISIONS — RULES — EXEMPTION. (1) The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the director under such laws, including, but not limited to, chapter 33, title 41, Idaho Code, and rules […]
41-5410. FOREIGN INSURERS. (1) Any foreign insurer shall, upon the written request of the director, submit to the director an RBC report as of the end of the calendar year just ended the later of: (a) The date an RBC report would be required to be filed by a domestic insurer under this chapter; or […]
41-5411. IMMUNITY. There shall be no liability on the part of, and no cause of action shall arise against, the director or the insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. History: [41-5411, added 1996, ch. 96, sec. 1, […]
41-5412. NOTICES. All notices by the director to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer’s receipt of such notice. History: [41-5412, added 1996, ch. 96, sec. 1, […]
41-5413. SEVERABILITY. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of the remaining portions of this act. History: [41-5413, added 1996, […]
