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Indiana Code Title 27. Insurance § 27-1-36-30

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 30. If a company action level event occurs, the insurer shall prepare and submit to the commissioner an RBC plan that does all the following:

(1) Addresses the following:

(A) The conditions that contribute to the insurer's RBC level.

(B) The key assumptions affecting the insurer's projections and the sensitivity of the projections to the assumptions.

(C) The quality of, and problems associated with, the insurer's business, including the following:

(i) Assets.

(ii) Anticipate   1 business growth and associated surplus strain.

(iii) Extraordinary exposure to risk.

(iv) Mix of business and use of reinsurance, if any, in each case.

(2) Contains proposals for corrective actions that the insurer intends to take and that would be expected to result in the elimination of the RBC level.

(3) Provides projections of the insurer's financial results in the current year and at least the four (4) consecutive succeeding years, both in the absence of proposed corrective actions and giving effect to the proposed corrective actions, including projections of the following:

(A) Statutory operating income.

(B) Net income.

(C) Capital.

(D) Surplus.  (The projections for both new and renewal business may include separate projections for each major line of business and separately identify each significant income, expense, and benefit component.)

1  So in enrolled bill;  text should probably read “Anticipated”.
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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-36-30 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-36-30/

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