§ 27-56-1. Report.
(a) Every insurer domiciled in this state shall file a report with the commissioner disclosing
material acquisitions and dispositions of assets or material nonrenewals, cancellations,
or revisions of ceded reinsurance agreements unless the acquisitions and dispositions
of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance
agreements have been submitted to the commissioner for review, approval, or information
purposes pursuant to other provisions of the insurance code, laws, regulations, or
other requirements.
(b) The report required in subsection
Free access — add to your briefcase to read the full text and ask questions with AI
§ 27-56-1. Report.
(a) Every insurer domiciled in this state shall file a report with the commissioner disclosing
material acquisitions and dispositions of assets or material nonrenewals, cancellations,
or revisions of ceded reinsurance agreements unless the acquisitions and dispositions
of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance
agreements have been submitted to the commissioner for review, approval, or information
purposes pursuant to other provisions of the insurance code, laws, regulations, or
other requirements.
(b) The report required in subsection (a) of this section is due within fifteen (15) days
after the end of the calendar month in which any of the foregoing transactions occur.
(c) One complete copy of the report, including any exhibits or other attachments, shall
be filed with:
(1) The insurance department of the insurer's state of domicile; and
(2) The National Association of Insurance Commissioners.
(d) All reports obtained by or disclosed to the commissioner pursuant to this chapter
shall be given confidential treatment and shall not be subject to subpoena and shall
not be made public by the commissioner, the National Association of Insurance Commissioners,
or any other person, except to insurance departments of other states, without the
prior written consent of the insurer to which it pertains unless the commissioner,
after giving the insurer who would be affected notice and an opportunity to be heard,
determines that the interest of policyholders, shareholders, or the public will be
served by publication, in which event the commissioner may publish all or any part
in the manner the commissioner may deem appropriate.