§ 26-48-104 — Regulatory action level event

Wyoming § 26-48-104

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 48: RISK-BASED CAPITAL

Text

(a) "Regulatory action level event" means, with respect to
any insurer, any of the following events:
(i) 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;
(ii) The notification by the commissioner to an
insurer of an adjusted RBC report that indicates the event in
paragraph (i) of this subsection, provided the insurer does not
challenge the adjusted RBC report under W.S. 26-48-107;
(iii) If the insurer challenges an adjusted RBC
report that indicates the event in paragraph (i) of this
subsection, under W.S. 26-48-107, the notification by the
commissioner to the insurer that the commissioner has, after a
hearing, rejected the insurer's challenge;
(iv) The failure of the insurer to file an RBC report
annually by March 15, unless the insurer has provided an
explanation for the failure which is satisfactory to the
commissioner and has filed an RBC report by March 25;
(v) The failure of the insurer to submit an RBC plan
to the commissioner within the time period set forth in W.S.
26-48-103(c);
(vi) Notification by the commissioner to the insurer
that:
(A) The RBC plan or revised RBC plan submitted
by the insurer is, in the judgment of the commissioner,
unsatisfactory; and
(B) Such notification constitutes a regulatory
action level event with respect to the insurer, provided the
insurer has not challenged the determination under W.S.