As used in this article, these terms have the following meanings: (a) “Adjusted RBC report” means an RBC report which has been adjusted by the commissioner in accordance with subsection (e), section two of this article. (b) “Corrective order” means an order issued by the commissioner specifying corrective actions which the commissioner has determined are […]
(a) Any foreign insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC report as of the end of the calendar year just ended the later of: (1) The date an RBC report would be required to be filed by a domestic insurer under this act; or
There shall be no liability on the part of, and no cause of action shall arise against, the commissioner or the agency of the Insurance Commission or its employees or agents for any action taken by them in the performance of their powers and duties under this article.
All notices by the commissioner 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.
This article shall become effective on January 1, 1996.
(a) Every domestic insurer , on or prior to each March 1 (the filing date), shall prepare and submit to the 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. In addition, every domestic insurer […]
(a) “Company action level event” means any of the following events: (1) The filing of an RBC report by an insurer which indicates that:
(a) "Regulatory action level event" means, with respect to any insurer, any of the following events: (1) 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 action level RBC;
(a) "Authorized control level event" means any of the following events: (1) 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;
(a) “Mandatory control level event” means any of the following events: (1) The filing of an RBC report which indicates that the insurer’s adjusted capital is less than its mandatory control level RBC;
Insurers have the right to a confidential departmental hearing, on the record, at which the insurer may challenge any determination or action by the commissioner made pursuant to the provisions of this article. The insurer shall notify the commissioner of its request for a hearing within ten days after receiving notification from the commissioner. (a) […]
(a) 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 any corrective order issued by the commissioner pursuant to examination or […]
(a) The provisions of this article 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 commissioner under such laws, including, but not limited to, article ten of this chapter. (b) The commissioner may adopt reasonable rules necessary for the […]
