Indiana § 27-1-36-29 "Company action level event"

Indiana Statutes

§ 27-1-36-29 — "Company action level event"

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 36 Risk Based Capital Requirements

As used in this chapter, "company action level event" means any of the following events:

(1)The filing of an RBC report by an insurer that indicates that:

(A)the insurer's total adjusted capital is:

(i)greater than or equal to its regulatory action level RBC; but

(ii)less than its company action level RBC;

(B)if a life insurer or a fraternal benefit society, the insurer:

(i)has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of three

(3)multiplied by its authorized control level RBC; and

(ii)has a negative trend;

(C)if a property and casualty insurer, the insurer:

(i)has total adjusted capital that is greater than or equal to its company action level RBC but less than the product of three

(3)multiplied by its authori

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this chapter, "company action
level event" means any of the following events:
(1) The filing of an RBC report by an insurer that indicates that:
(A) the insurer's total adjusted capital is:
(i) greater than or equal to its regulatory action level RBC;
but
(ii) less than its company action level RBC;
(B) if a life insurer or a fraternal benefit society, the insurer:
(i) has total adjusted capital that is greater than or equal to its
company action level RBC but less than the product of three
(3) multiplied by its authorized control level RBC; and
(ii) has a negative trend;
(C) if a property and casualty insurer, the insurer:
(i) has total adjusted capital that is greater than or equal to its
company action level RBC but less than the product of three
(3) multiplied by its authorized control level RBC; and
(ii) has a negative trend; or
(D) if a health insurer, the insurer:
(i) has a total adjusted capital that is greater than or equal to
its company action level RBC but less than the product of
three (3) multiplied by its authorized control level RBC; and
(ii) has a negative trend.
(2) The notification by the commissioner to the insurer of an
adjusted RBC report that indicates that:
(A) the insurer's total adjusted capital is:
(i) greater than or equal to its regulatory action level RBC;
but
(ii) less than its company action level RBC;
(B) if a life insurer or a fraternal benefit society, the insurer:
(i) has total adjusted capital that is greater than or equal to its
company action level RBC but less than the product of three
(3) multiplied by its authorized control level RBC; and
(ii) has a negative trend;
(C) if a property and casualty insurer, the insurer:
(i) has total adjusted capital that is greater than or equal to its
company action level RBC but less than the product of three
(3) multiplied by its authorized control level RBC; and
(ii) has a negative trend; or
(D) if a health insurer, the insurer:
(i) has total adjusted capital that is greater than or equal to its
company action level RBC but less than the product of three
(3) multiplied by its authorized control level RBC; and
(ii) has a negative trend;
unless the insurer challenges the adjusted RBC report under
section 44 of this chapter.
(3) The notification by the commissioner to the insurer that the
commissioner has, after a hearing under section 44 of this chapter,
rejected the insurer's challenge to an adjusted RBC report
described in subdivision (2).