Wyoming § 26-48-112 Phase-in provision

Wyoming Statutes

§ 26-48-112 — Phase-in provision

Wyoming·Title 26 Insurance Code·Ch. 48 RISK-BASED CAPITAL

(a)For RBC reports required to be filed by life or disability insurers with respect to 1994, the following requirements shall apply in lieu of the provisions of W.S. 26-48-103 through 26-48-106:

(i)In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action under this chapter;

(ii)In the event of a regulatory action level event under W.S. 26-48-104(a)(i) through (iii) the commissioner shall take the actions required under W.S. 26-48-103;

(iii)In the event of a regulatory action level event under W.S. 26-48-104(a)(iv) through (ix) or an authorized control level event, the commissioner shall take the actions required under W.S. 26-48-104 with respect to the insurer;

(iv)In the event of a mandatory control level event,

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(a) For RBC reports required to be filed by life or
disability insurers with respect to 1994, the following
requirements shall apply in lieu of the provisions of W.S.
26-48-103 through 26-48-106:
(i) In the event of a company action level event with
respect to a domestic insurer, the commissioner shall take no
regulatory action under this chapter;
(ii) In the event of a regulatory action level event
under W.S. 26-48-104(a)(i) through (iii) the commissioner shall
take the actions required under W.S. 26-48-103;
(iii) In the event of a regulatory action level event
under W.S. 26-48-104(a)(iv) through (ix) or an authorized
control level event, the commissioner shall take the actions
required under W.S. 26-48-104 with respect to the insurer;
(iv) In the event of a mandatory control level event,
the commissioner shall take the actions required under W.S.
26-48-105 with respect to the insurer.
(b) For RBC reports required to be filed by property and
casualty insurers with respect to 1995, the following
requirements shall apply in lieu of the provisions of W.S.
26-48-103 through 26-48-106:
(i) In the event of a company action level event with
respect to a domestic insurer, the commissioner shall take no
regulatory action under this chapter;
(ii) In the event of a regulatory action level event
under W.S. 26-48-104(a)(i) through (iii) the commissioner shall
take the actions required under W.S. 26-48-103;
(iii) In the event of a regulatory action level event
under W.S. 26-48-104(a)(iv) through (ix) or an authorized
control level event, the commissioner shall take the actions
required under W.S. 26-48-104 with respect to the insurer;
(iv) In the event of a mandatory control level event
with respect to an insurer, the commissioner shall take the
actions required under W.S. 26-48-105 with respect to the
insurer.
(c) W.S. 26-48-110(a) shall not be effective for any
foreign insurer until July 1, 1996, unless the commissioner
requests in writing that the foreign insurer submit an RBC
report.
ARTICLE 2
RISK-BASED CAPITAL FOR HEALTH ORGANIZATIONS