The ultimate controlling person of an insurer subject to registration also shall file an annual enterprise risk report. The report must, to the best of the ultimate controlling person's knowledge and belief, identify the material risks within the insurance holding company system that could pose enterprise risk to the insurer. The report must be filed with the lead state commissioner of the insurance holding company system as determined by the procedures within the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.
HISTORY: 2015 Act No. 2 (S.342), Section 1, eff March 9, 2015.
Structure South Carolina Code of Laws
Chapter 21 - Insurance Holding Company Regulatory Act
Section 38-21-10. Definitions.
Section 38-21-20. Authority of insurers to organize or acquire subsidiaries.
Section 38-21-30. Authority of insurers to invest in securities of subsidiaries.
Section 38-21-40. Investments in securities of subsidiaries are not subject to other restrictions.
Section 38-21-70. Contents of statement; amendment.
Section 38-21-90. Approval of Commissioner of acquisition of control; hearing.
Section 38-21-100. Certain transactions exempt from Sections 38-21-60 to 38-21-120.
Section 38-21-110. Violations of Sections 38-21-60 to 38-21-120.
Section 38-21-120. Jurisdiction of courts; service of process.
Section 38-21-130. Registration of members of insurance holding company systems.
Section 38-21-140. Registration statement.
Section 38-21-150. Summary outlining changes since previous registration statement required.
Section 38-21-160. Information which need not be disclosed in registration statement.
Section 38-21-170. Dividends and distributions must be reported.
Section 38-21-180. Information from persons within insurance holding company.
Section 38-21-190. Termination of registration.
Section 38-21-210. Filing of registration statement on behalf of affiliated insurer.
Section 38-21-220. Disclaimer of affiliation.
Section 38-21-225. Annual enterprise risk report.
Section 38-21-230. Failure to timely file registration statement.
Section 38-21-240. Exemptions from registration statement provisions.
Section 38-21-250. Standards for transactions within insurance holding company system.
Section 38-21-260. Determining adequacy of insurer's surplus.
Section 38-21-270. Notice and approval of extraordinary dividends or distributions required.
Section 38-21-280. Examination; compulsory production of information.
Section 38-21-285. Participation in supervisory colleges.
Section 38-21-290. Confidential information.
Section 38-21-295. Group-wide supervisor for internationally active insurance groups.
Section 38-21-300. Regulations and orders of director.
Section 38-21-310. Enjoining violations of chapter, regulations, or orders.
Section 38-21-350. Director may take possession of property and conduct business of insurer.
Section 38-21-360. Authority of receiver to recover certain distributions and payments.
Section 38-21-370. Judicial review of action, order, or decision of director.