40-2d11. Regulatory action level event. "Regulatory action level event" means, with respect to any health organization, any of the following events:
(a) The filing of an RBC report by the health organization which indicates that the health organization's total adjusted capital is greater than or equal to its authorized control level RBC but less than its regulatory action level RBC;
(b) the notification by the commissioner to the health organization of an adjusted RBC report that indicates the event described in subsection (a) if:
(1) The health organization does not challenge the adjusted RBC report pursuant to K.S.A. 40-2d19, and amendments thereto; or
(2) the commissioner has rejected such challenge after a hearing; and
(c) the failure of the health organization to file an RBC report by the filing date, unless the health organization has provided an explanation for such failure which is satisfactory to the commissioner and has cured the failure within 10 days after the filing date;
(d) the failure of the health organization to submit an RBC plan to the commissioner within the time period set forth in K.S.A. 40-2d07, and amendments thereto;
(e) notification by the commissioner to the health organization that:
(1) The RBC plan or revised RBC plan submitted by the health organization is, in the judgment of the commissioner, unsatisfactory; and
(2) (A) the health organization has not challenged the determination pursuant to K.S.A. 40-2d19, and amendments thereto; or
(B) the commissioner has rejected such challenge.
(f) Notification by the commissioner to the health organization that the health organization has failed to adhere to its RBC plan or revised RBC plan, but only if such failure has a substantial adverse effect on the ability of the health organization to eliminate the company action level event in accordance with its RBC plan or revised RBC plan and the commissioner has so stated in the notification, if:
(1) The health organization has not challenged such determination pursuant to K.S.A. 40-2d19, and amendments thereto; or
(2) the commissioner has rejected such challenge after a hearing.
History: L. 2000, ch. 147, ยง 12; July 1.
Structure Kansas Statutes
Article 2d - Health Organization Risk-based Capital Requirements
40-2d01 Risk-based capital requirements; definitions.
40-2d02 Risk-based capital report.
40-2d03 Determination of risk-based capital.
40-2d04 Risk-based capital report; adjustment.
40-2d05 Company action level event; defined.
40-2d06 Submission of RBC plan.
40-2d07 Risk-based capital plan; submission.
40-2d08 Same; notification by commissioner.
40-2d09 Same; notification of a regulatory action event.
40-2d10 Domestic health organization to file RBC plan in any state authorized to do business.
40-2d11 Regulatory action level event.
40-2d12 Same; commissioner's duties in regulatory action level event.
40-2d13 Corrective actions; submission of RBC plans, when.
40-2d14 Review of RBC plans; expenses.
40-2d15 Authorized control level event; defined.
40-2d16 Same; commissioner's duties in authorized control level event.
40-2d17 Mandatory control event; defined.
40-2d18 Same; commissioner's actions.
40-2d19 Hearing under Kansas administrative procedure act.
40-2d20 RBC reports, plans and corrective orders are confidential; not to be used for rate making.
40-2d22 Provisions of act supplemental to other provisions of law.
40-2d23 Foreign health organization; RBC report.
40-2d24 Commissioner may require foreign health insurer to file RBC plan, when.
40-2d25 Mandatory control level event; foreign health organization; liquidation of property.
40-2d26 Notices by commissioner; effective, when.
40-2d28 Regulatory action provisions; phase in.
40-2d29 Rules and regulations.
40-2d30 Health organization risk-based capital act; citation.