Any risk retention group must submit to an examination by the commissioner to determine its financial condition if the commissioner of the jurisdiction in which the group is chartered has not initiated an examination or does not initiate an examination within sixty days after a request by the commissioner of this state. Any such examination shall be coordinated to avoid unjustified repetition and conducted in an expeditious manner. The risk retention group shall be subject to the provisions of section nine, article two of this chapter in regard to the expense and conduct of the examination. Any such examination shall be conducted in accordance with the national association of Insurance Commissioners examiners handbook.
Structure West Virginia Code
Article 32. Risk Retention Act
§33-32-1. Purpose and Short Title
§33-32-3. Charter and License Requirements for Domestic Groups
§33-32-4. Risk Retention Groups Not Chartered in This State
§33-32-5. Tax on Premiums Collected
§33-32-6. Compliance With Unfair Claims Settlement Practices Law
§33-32-7. Prohibitive, Deceptive, False, or Fraudulent Practices
§33-32-8. Examination Regarding Financial Condition
§33-32-9. Notice to Purchasers
§33-32-10. Prohibited Acts Regarding Solicitation or Sale
§33-32-11. Prohibition on Ownership by an Insurance Company
§33-32-12. Prohibited Coverage
§33-32-13. Delinquency Proceedings
§33-32-14. Compulsory Associations
§33-32-15. Countersignatures Not Required
§33-32-17. Notice and Registration Requirements of Purchasing Groups
§33-32-18. Restrictions on Insurance Purchased by Purchasing Groups
§33-32-21. Duty on Agents or Brokers to Obtain License
§33-32-22. Binding Effect of Orders Issued in United States District Court