Maine § 24-A §6452 Risk-based capital reports

Maine Statutes

§ 24-A §6452 — Risk-based capital reports

Maine § 24-A §6452

Title 24-AMAINE INSURANCE CODE

Ch. 79RISK-BASED CAPITAL STANDARDS

This text of Maine § 24-A §6452 (Risk-based capital reports) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §6452 (2026).

Text

1.Duty to file. A domestic insurer shall, on or before March 1st, submit to the superintendent a report of its risk-based capital levels as of the end of the previous calendar year, in a form and containing such information as is required by the risk-based capital instructions. In addition, a domestic insurer shall file its risk-based capital report:

2.Determination of a life or health insurer's risk-based capital. A life or health insurer's risk-based capital must be determined in accordance with the formula set forth in the risk-based capital instructions. The formula must take into account, and may adjust for the covariance between, the following:

3.Filing of inaccurate report. If a domestic insurer files a risk-based capital report that in the judgment of the superintendent is inacc

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1.
Duty to file.
A domestic insurer shall, on or before March 1st, submit to the superintendent a report of its risk-based capital levels as of the end of the previous calendar year, in a form and containing such information as is required by the risk-based capital instructions. In addition, a domestic insurer shall file its risk-based capital report:
2.
Determination of a life or health insurer's risk-based capital.
A life or health insurer's risk-based capital must be determined in accordance with the formula set forth in the risk-based capital instructions. The formula must take into account, and may adjust for the covariance between, the following:
3.
Filing of inaccurate report.
If a domestic insurer files a risk-based capital report that in the judgment of the superintendent is inaccurate, then the superintendent shall adjust the risk-based capital report to correct the inaccuracy and notify the insurer of the adjustment. The notice must contain a statement of the reason for the adjustment. A risk-based capital report so adjusted is referred to as an adjusted risk-based capital report.
4.
Determination of a property and casualty insurer's risk-based capital.
A property and casualty insurer's risk-based capital is determined in accordance with the formula set forth in the risk-based capital instructions. The formula must take into account and may adjust for the covariance between the following: