40-2c05. Company action level event; defined. "Company action level event" means any of the following events:
(a) The filing of an RBC report by an insurer which indicates that:
(1) The insurer's total adjusted capital is greater than or equal to its regulatory action level RBC but less than its company action level RBC; or
(2) (A) a life and health insurer has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and 3.0 and has a negative trend; or
(B) a property and casualty insurer has total adjusted capital which is greater than or equal to its company action level RBC but less than the product of its authorized control level RBC and 3.0 and triggers the trend test calculation included in the RBC instructions as defined in K.S.A. 40-2c01, and amendments thereto.
(b) The notification by the commissioner to the insurer of an adjusted RBC report that indicates the event described in subsection (a)(1) or (2), unless the insurer challenges the adjusted RBC report pursuant to K.S.A. 40-2c19, and amendments thereto, and such challenge has not been rejected by the commissioner.
History: L. 1994, ch. 138, § 5; L. 1996, ch. 134, § 3; L. 2009, ch. 19, § 1; L. 2013, ch. 38, § 2; July 1.
Structure Kansas Statutes
Article 2c - Risk-based Capital Requirements
40-2c01 Risk-based capital requirements; definitions.
40-2c02 Risk-based capital report.
40-2c03 Determination of risk-based capital.
40-2c04 Risk-based capital report; adjustment.
40-2c05 Company action level event; defined.
40-2c06 Submission of RBC plan.
40-2c07 Risk-based capital plan; submission.
40-2c08 Same; notification by commissioner.
40-2c09 Same; notification a regulatory action level event.
40-2c10 Domestic insurer to file RBC plan in any state authorized to do business.
40-2c11 Regulatory action level event; defined.
40-2c12 Same; commissioner's duties in regulatory action level event.
40-2c13 Corrective actions; submission of RBC plans, when.
40-2c14 Review of RBC plans; expenses.
40-2c15 Authorized control level event; defined.
40-2c16 Same; commissioner's duties in authorized control level event.
40-2c17 Mandatory control event; defined.
40-2c18 Same; commissioner's actions.
40-2c19 Hearing under Kansas administrative procedure act.
40-2c21 Comparison of insurer's total adjusted capital to RBC levels, prohibited generally.
40-2c22 Provisions of act supplemental to other provisions of law.
40-2c23 Foreign insurer RBC report, when.
40-2c24 Commissioner may require foreign insurer to file RBC plan, when.
40-2c25 Mandatory control level event; foreign insurer; liquidation of property.
40-2c26 Notices by commissioner; effective, when.