§ 27-1-36-39 — "Authorized control level event"

Indiana § 27-1-36-39

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 36: Risk Based Capital Requirements

Text

As used in this chapter, "authorized control
level event" means any of the following events:
(1) The filing of an RBC report by an insurer that indicates that
the insurer's total adjusted capital is:
(A) greater than or equal to its mandatory control level RBC;
but
(B) less than its authorized control level RBC.
(2) The notification by the commissioner to the insurer of an
adjusted RBC report that indicates that the insurer's total adjusted
capital is:
(A) greater than or equal to its mandatory control level RBC;
but
(B) less than its authorized control level RBC;
unless the insurer challenges the adjusted RBC report under
section 44 of this chapter.
(3) 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.
(4) The failure of the insurer to respond, in a manner satisfactory
to the commissioner, to a corrective order, unless the insurer has
challenged the corrective order under section 44 of this chapter.
(5) The failure of the insurer to respond, in a manner satisfactory
to the commissioner, to a corrective order if, after a challenge and
a hearing under section 44 of this chapter, the commissioner has:
(A) rejected the challenge; or
(B) modified the corrective order.

Legislative History

As added by P.L.186-1996, SEC.1.