Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 7 - RISK-BASED CAPITAL LEVEL REQUIREMENTS (§§ 83-5-401 — 83-5-427) › Section 83-5-427 - Requirements for RBC reports for certain insurers for 1996; requirements for RBC reports for health organization insurers for 2013

(1)
For RBC reports required to be filed by life insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections
83-5-405
,
83-5-407
,
83-5-409
, and
83-5-411
.
(a)
In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b)
In the event of a regulatory action level event under Section
83-5-407(1)(a), (b) or (c)
, the commissioner shall take the actions required under Section
83-5-405
.
(c)
In the event of a regulatory action level event under Section
83-5-407(1)(d), (e), (f), (g), (h) or (i)
, or an authorized control level event, the commissioner shall take the actions required under Section
83-5-407
with respect to the insurer.
(d)
In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section
83-5-409
with respect to the insurer.
(2)
For RBC reports required to be filed by property and casualty insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections
83-5-405
,
83-5-407
,
83-5-409
, and
83-5-411
:
(a)
In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder.
(b)
In the event of a regulatory action level event under Section
83-5-407(1)(a), (b) or (c)
, the commissioner shall take the actions required under Section
83-5-405
.
(c)
In the event of a regulatory action level event under Section
83-5-407(1)(d), (e), (f), (g), (h) or (i)
, or an authorized control level event, the commissioner shall take the actions required under Section
83-5-407
with respect to the insurer.
(d)
In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section
83-5-409
with respect to the insurer.
(3)
For RBC reports required to be filed by health organization insurers with respect to 2013, the following requirements shall apply in lieu of the provisions of Sections
83-5-405
,
83-5-407
,
83-5-409
and
83-5-411
:
(a)
In the event of a company action level event with respect to a domestic health organization insurer, the commissioner shall take no regulatory action hereunder;
(b)
In the event of a regulatory action level event under Section
83-5-407(1)(a), (b) or (c)
, the commissioner shall take the actions required under Section
83-5-405
;
(c)
In the event of a regulatory action level event under Section
83-5-407(1)(d), (e), (f), (g), (h) or (i)
, or an authorized control level event, the commissioner shall take the actions required under Section
83-5-407
with respect to the health organization insurer; and
(d)
In the event of a mandatory control level event with respect to a health organization insurer, the commissioner shall take the actions required under Section
83-5-409
with respect to the health organization insurer.
Laws, 1996, ch. 478, § 14, eff. 7/1/1996.
Amended by Laws, 2013, ch. 416, HB 534, 7, eff. 7/1/2013.