Section 21.14.010. Risk based capital reports.

   (a) A domestic insurer shall, on or before March 1, submit to the director a report of its risk based capital covering the previous calendar year. The report must be in a form and contain the information required by risk based capital instructions. A domestic insurer required to submit a report under this subsection shall file the report with
        (1) the National Association of Insurance Commissioners; and
        (2) the insurance regulatory agency in each state in which the insurer is authorized to transact business if the insurance regulatory agency has requested the report in writing from the insurer; a report requested under this paragraph must be delivered
             (A) not later than 15 days after the receipt of a request if the report has already been filed with the director; or
             (B) at the time the report is filed with the director, if the report has not yet been filed with the director.
   (b) An insurer's risk based capital shall be determined under the formula contained in the risk based capital instructions.
   (c) If a domestic insurer files a report that the director determines to be inaccurate, the director may adjust the report to correct the inaccuracy. The director shall notify the insurer of an adjustment and the reason for it.
   (d)  = it [Repealed, Sec. 34 ch 52 SLA 2015]. =ro 
   (e)  = it [Repealed, Sec. 34 ch 52 SLA 2015]. =ro 

Authorities

21.14.070;21.14.080;21.14.090;21.14.200

Notes

Recent Bills that will modify this

HB 164 INSURANCE; RISK MG'T; HOLDING COMPANIES
SB 107 INSURANCE; RISK MG'T; HOLDING COMPANIES

References

AS 21.14.070 Foreign insurers.
AS 21.14.080 Hearings.
AS 21.14.090 Confidentiality; restrictions on use.
AS 21.14.200 Definitions.

History

(Sec. 1 ch 76 SLA 1994; am Sec. 13 ch 81 SLA 1997; am Sec. 2 ch 72 SLA 2000; am Sec. 1, 52 ch 34 SLA 2015)