reglab/statecodes huggingface dataset:
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 18 - Reinsurance Intermediaries › § 31–1808. Duties of reinsurers utilizing the services of a reinsurance-intermediary-manager

§ 31–1808. Duties of reinsurers utilizing the services of a reinsurance-intermediary-manager.
(a) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance manager on its behalf unless the person is licensed as required by § 31-1802(b).
(b) The reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance manager which the reinsurer has engaged prepared by an independent certified accountant in a form acceptable to the Mayor.
(c) If a reinsurance manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance manager. This opinion shall be in addition to any other required loss reserve certification.
(d) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the reinsurance manager.
(e) Within 30 days of termination of a contract with a reinsurance manager, the reinsurer shall provide written notification of the termination to the Commissioner.
(f) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder, or subproducer of its reinsurance manager. This subsection shall not apply to relationships governed by Chapter 7 of this title.
(Oct. 21, 1993, D.C. Law 10-47, § 9, 40 DCR 6093; May 21, 1997, D.C. Law 11-268, § 10(bb), 44 DCR 1730.)
Prior Codifications
1981 Ed., § 35-3108.
Section References
This section is referenced in § 31-1806.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 18 - Reinsurance Intermediaries › § 31–1809. Examination authority

§ 31–1809. Examination authority.
(a) A reinsurance intermediary shall be subject to examination by the Mayor. The Mayor shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the Mayor.
(b) A reinsurance manager may be examined as if it were the reinsurer.
(Oct. 21, 1993, D.C. Law 10-47, § 10, 40 DCR 6093.)
Prior Codifications
1981 Ed., § 35-3109.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 18 - Reinsurance Intermediaries › § 31–1810. Penalties and liabilities

§ 31–1810. Penalties and liabilities.
(a) If the Mayor determines that the reinsurer intermediary or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the Mayor may order:
(1) For each separate violation, a penalty in an amount not exceeding $10,000;
(2) Revocation or suspension of the producer’s license; and
(3) If it was found that because of material noncompliance the insurer has suffered any loss or damage, the Commissioner may maintain a civil action brought by or on behalf of the insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors, or other appropriate relief.
(b) If an order of rehabilitation or liquidation of the insurer has been entered pursuant to Chapter 13 of this title, and the receiver appointed under that order determines that the reinsurance intermediary or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, and the insurer suffered any loss or damage, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer.
(c) Nothing contained in this section shall affect the right of the Mayor to impose any other penalties provided in District insurance law.
(d) Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors, or other third parties or confer any rights to those persons.
(Oct. 21, 1993, D.C. Law 10-47, § 11, 40 DCR 6093; Apr. 26, 1994, D.C. Law 10-103, § 6(b), 41 DCR 1005; Feb. 27, 1996, D.C. Law 11-90, §§ 4(b), 4(c), 42 DCR 7155; May 21, 1997, D.C. Law 11-268, § 10(bb), 44 DCR 1730.)
Prior Codifications
1981 Ed., § 35-3110.
Emergency Legislation
For temporary amendment of section, see § 5(b) and (c) of the Insurance Omnibus Emergency Amendment Act of 1995 (D.C. Act 11-48, May 15, 1995, 42 DCR 2544) and § 4(b) and (c) of the Insurance Omnibus Congressional Recess Emergency Amendment Act of 1995 (D.C. Act 11-97, July 19, 1995, 42 DCR 3844).
Temporary Legislation
For temporary (225 day) amendment of section, see § 6(b) of Insurance Omnibus Temporary Amendment Act of 1993 (D.C. Law 10-76, March 17, 1994, law notification 41 DCR 1626).
For temporary (225 day) amendment of section, see § 4(b) of Insurance Omnibus Temporary Amendment Act of 1995 (D.C. Law 11-36, September 8, 1995, law notification 42 DCR 5305).
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 19 - Required Annual Financial Statements and Participation in the NAIC Insurance Regulatory Information System › § 31–1902. Immunity

§ 31–1902. Immunity.
(a) In the absence of fraud, actual malice, or bad faith, members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others, including District employees, charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the Mayor under the authority of this chapter, and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required by this chapter.
(b) Nothing in this section is intended to abrogate or modify in any way any common law or statutory privilege or immunity enjoyed by any person prior to this chapter.
(Oct. 21, 1993, D.C. Law 10-42, § 3, 40 DCR 6020.)
Prior Codifications
1981 Ed., § 35-3402.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 19 - Required Annual Financial Statements and Participation in the NAIC Insurance Regulatory Information System › § 31–1903. Confidentiality

§ 31–1903. Confidentiality.
All financial analysis ratios and examination synopses and related information concerning insurance companies that are submitted to the Mayor by the NAIC Insurance Regulatory Information System are confidential and may not be disclosed by the Mayor or any member of the Department of Insurance, Securities, and Banking. This information shall not be subject to disclosure under the District of Columbia Freedom of Information Act or any other District law relating to disclosure of information.
(Oct. 21, 1993, D.C. Law 10-42, § 4, 40 DCR 6020; May 21, 1997, D.C. Law 11-268, § 10(dd), 44 DCR 1730; June 11, 2004, D.C. Law 15-166, § 4(k), 51 DCR 2817.)
Prior Codifications
1981 Ed., § 35-3403.
Effect of Amendments
D.C. Law 15-166 substituted “Department of Insurance, Securities, and Banking” for “Department of Insurance and Securities Regulation”.
Emergency Legislation
For temporary (90 day) amendment of section, see § 4(k) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).
References in Text
The “District of Columbia Freedom of Information Act,” referred to in this section, is D.C. Law 1-96, codified at § 2-531 et seq.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 19 - Required Annual Financial Statements and Participation in the NAIC Insurance Regulatory Information System › § 31–1904. Revocation of Certificate of Authority

§ 31–1904. Revocation of Certificate of Authority.
The Mayor may fine insurance companies or suspend, revoke, or refuse to renew the Certificate of Authority of any insurer failing to file its annual statement when due or within any extension of time which the Mayor, for good cause, may have granted.
(Oct. 21, 1993, D.C. Law 10-42, § 5, 40 DCR 6020.)
Prior Codifications
1981 Ed., § 35-3404.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2002. RBC Reports

§ 31–2002. RBC Reports.
(a) Every domestic insurer shall, on or prior to each March 1 (“filing date”), prepare and submit to the Commissioner a report of its RBC Levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC Instructions. In addition, every domestic insurer shall file its RBC Report:
(1) With the NAIC in accordance with the RBC Instructions; and
(2) With the commissioner in any state in which the insurer is authorized to do business, if the commissioner has notified the insurer of its request in writing, in which case the insurer shall file its RBC Report not later than the later of:
(A) Fifteen days from the receipt of notice to file its RBC Report with that state; or
(B) The filing date.
(b) A life and health insurer’s RBC shall be determined in accordance with the formula set forth in the RBC Instructions. The formula shall take into account, and may be adjusted for the covariance between:
(1) The risk with respect to the insurer’s assets;
(2) The risk of adverse insurance experience with respect to the insurer’s liabilities and obligations;
(3) The interest rate risk with respect to the insurer’s business; and
(4) All other business risks and such other relevant risks as are set forth in the RBC Instructions;
(c) Factors set forth in subsection (b)(1) through (4) of this section shall be determined in each case by applying the factors in the manner set forth in the RBC Instructions.
(d) A property and casualty insurer’s RBC shall be determined in accordance with the formula set forth in the RBC Instructions. The formula shall take into account and may adjust for the covariance between:
(1) Asset risk;
(2) Credit risk;
(3) Underwriting risk; and
(4) All other business risks and such other relevant risks as are set forth in the RBC Instructions;
(e) The factors set forth in subsection (d)(1) through (4) of this section shall be determined in each case by applying the factors in the manner set forth in the RBC Instructions.
(f) An excess of capital over the amount produced by the risk-based capital requirements contained in this chapter and the formulas, schedules, and instructions referenced in this chapter is desirable in the business of insurance. Insurers should maintain capital above the RBC Levels required by this chapter.
(g) If a domestic insurer files an RBC Report which in the judgment of the Commissioner is inaccurate, then the Commissioner shall adjust the RBC Report to correct the inaccuracy and shall notify the insurer of the adjustment. An RBC Report so adjusted is an Adjusted RBC Report. The notice shall contain a statement of the reason for the adjustment.
(Apr. 9, 1997, D.C. Law 11-233, § 3, 44 DCR 765; Apr. 15, 2017, D.C. Law 21-278, § 2(b), 64 DCR 963.)
Prior Codifications
1981 Ed., § 35-4602.
Section References
This section is referenced in § 31-2001, § 31-2010, and § 31-3931.22.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2005. Authorized Control Level Event

§ 31–2005. Authorized Control Level Event.
(a) For the purposes of this chapter, the term “Authorized Control Level Event” means any of the following events:
(1) The filing of an RBC Report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its Mandatory Control Level RBC, but less than its Authorized Control Level RBC;
(2) The notification by the Commissioner to the insurer of an Adjusted RBC Report that indicates the event in paragraph (1) of this subsection, provided the insurer does not challenge the Adjusted RBC Report under § 31-2007;
(3) If, pursuant to § 31-2007, the insurer challenges an Adjusted RBC Report that indicates the event in paragraph (1) of this subsection, notification by the Commissioner to the insurer that the Commissioner has, after a hearing, rejected the insurer’s challenge;
(4) The failure of the insurer to respond, in a manner satisfactory to the Commissioner, to a corrective order (provided the insurer has not challenged the corrective order under § 31-2007); or
(5) If the insurer has challenged a corrective order under § 31-2007 and the Commissioner has, after a hearing, rejected the challenge or modified the Corrective Order, the failure of the insurer to respond, in a manner satisfactory to the Commissioner, to the corrective order subsequent to rejection or modification by the Commissioner.
(b) In the event of an Authorized Control Level Event with respect to an insurer, the Commissioner shall:
(1) Take such actions as are required under § 31-2004 regarding an insurer with respect to which a Regulatory Action Level Event has occurred; or
(2) If the Commissioner deems it to be in the best interests of the policyholders and creditors of the insurer and of the public, take such actions as are necessary to cause the insurer to be placed under regulatory control under Chapter 13 of this title. In the event the Commissioner takes such actions, the Authorized Control Level Event shall be deemed sufficient grounds for the Commissioner to take action under Chapter 13 of this title, and the Commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in Chapter 13 of this title. In the event the Commissioner takes actions under this paragraph pursuant to an Adjusted RBC Report, the insurer shall be entitled to such projections as are afforded to insurers under the provisions of Chapter 13 of this title pertaining to summary proceedings.
(Apr. 9, 1997, D.C. Law 11-233, § 6, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4605.
Section References
This section is referenced in § 31-2013.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2007. Hearings

§ 31–2007. Hearings.
(a) The insurer shall have a right to a hearing, at which the insurer may challenge any of the following determinations or actions by the Commissioner:
(1) Notification to an insurer by the Commissioner of an Adjusted RBC Report;
(2) Notification to an insurer by the Commissioner that:
(A) The insurer’s RBC Plan or Revised RBC Plan is unsatisfactory; and
(B) Such notification constitutes a Regulatory Action Level Event with respect to such insurer;
(3) Notification to any insurer by the Commissioner that the insurer has failed to adhere to its RBC Plan or Revised RBC Plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the Company Action Level Event with respect to the insurer in accordance with its RBC Plan or Revised RBC Plan; or
(4) Notification to an insurer by the Commissioner of a Corrective Order with respect to the insurer.
(b) The insurer shall notify the Commissioner of its request for a hearing within 5 days after the notification by the Commissioner under subsection (a) of this section. Upon receipt of the insurer’s request for a hearing, the Commissioner shall set a date for the hearing, which date shall be no less than 10 nor more than 30 days after the date of the insurer’s request.
(Apr. 9, 1997, D.C. Law 11-233, § 8, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4607.
Section References
This section is referenced in § 31-2003, § 31-2004, § 31-2005, and § 31-2006.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2009. Supplemental provisions; rules; exemption

§ 31–2009. Supplemental provisions; rules; exemption.
(a) The provisions of this chapter are supplemental to any other provisions of the laws of the District, and shall not preclude or limit any other powers or duties of the Commissioner under such laws, including, but not limited to, Chapter 13 and Chapter 21 of this title.
(b) The Commissioner may adopt reasonable rules necessary for the implementation of this chapter.
(c) The Commissioner may exempt from the application of this chapter any insurer which;
(1) Writes direct business only in the District;
(2) Writes direct annual premiums of $1 million or less; and
(3) Assumes no reinsurance in excess of 5% of direct premium written.
(Apr. 9, 1997, D.C. Law 11-233, § 10, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4609.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2010. Foreign Insurers

§ 31–2010. Foreign Insurers.
(a) Any foreign insurer, upon the written request of the Commissioner, shall submit to the Commissioner an RBC Report as of the end of the calendar year just ended on the later of:
(1) The date an RBC Report would be required to be filed by a domestic insurer under this chapter; or
(2) Fifteen days after the request is received by the foreign insurer.
(b) Any foreign insurer shall, at the written request of the Commissioner, promptly submit to the Commissioner a copy of any RBC Plan that is filed with the commissioner of any other state.
(c) In the event of a Company Action Level Event, Regulatory Action Level Event or Authorized Control Level Event, with respect to any foreign insurer as determined under the RBC statute applicable in the state of domicile of the insurer (or, if no RBC statute is in force in that state under the provisions of this chapter), if the insurance commissioner or similar authority of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC Plan in the manner specified under that state’s RBC statute (or, if no RBC statute is in force in that state, under § 31-2002), the Commissioner may require the foreign insurer to file an RBC Plan with the Commissioner. In such event, the failure of the foreign insurer to file an RBC Plan with the Commissioner shall be grounds to order the insurer to cease and desist from writing new insurance business in the District.
(d) In the event of a Mandatory Control Level Event with respect to any foreign insurer, if no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the Commissioner may make application to the Superior Court permitted under Chapter 13 of this title with respect to the liquidation of property of foreign insurers found in the District, and the occurrence of the Mandatory Control Level Event shall be considered adequate grounds for the application.
(Apr. 9, 1997, D.C. Law 11-233, § 11, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4610.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2011. Immunity

§ 31–2011. Immunity.
There shall be no liability on the part of, and no cause of action shall arise against, the Commissioner or the Department of Insurance, Securities, and Banking or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter.
(Apr. 9, 1997, D.C. Law 11-233, § 12, 44 DCR 765; June 11, 2004, D.C. Law 15-166, § 4(l)(3), 51 DCR 2817.)
Prior Codifications
1981 Ed., § 35-4611.
Effect of Amendments
D.C. Law 15-166 substituted “Department of Insurance, Securities, and Banking” for “Department of Insurance and Securities Regulation”.
Emergency Legislation
For temporary (90 day) amendment of section, see § 4(l)(3) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2012. Notices

§ 31–2012. Notices.
All notices by the Commissioner to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer’s receipt of such notice.
(Apr. 9, 1997, D.C. Law 11-233, § 13, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4612.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 20 - Risk-Based Capital › § 31–2013. Phase-in provision

§ 31–2013. Phase-in provision.
(a) For RBC Reports required to be filed by life insurers with respect to 1993, the following requirements shall apply in lieu of the provisions of §§ 31-2003, 31-2004, 31-2005, and 31-2006:
(1) In the event of a Company Action Level Event with respect to a domestic insurer, the Commissioner shall take no regulatory action hereunder.
(2) In the event of an Regulatory Action Level Event under § 31-2004(a)(1), (2), or (3), the Commissioner shall take the actions required under § 31-2003.
(3) In the event of an Regulatory Action Level Event under § 31-2004(a)(4), (5), (6), (7), (8), or (9) or an Authorized Control Level Event, the Commissioner shall take the actions required under § 31-2004 with respect to the insurer.
(4) In the event of a Mandatory Control Level Event with respect to an insurer, the Commissioner shall take the actions required under § 31-2005 with respect to the insurer.
(b) For RBC Reports required to be filed by property and casualty insurers with respect to 1994, the following requirements shall apply in lieu of the provisions of §§ 31-2003, 31-2004, 31-2005, and 31-2006:
(1) In the event of a Company Action Level Event with respect to a domestic insurer, the Commissioner shall take no regulatory action hereunder.
(2) In the event of an Regulatory Action Level Event under § 31-2004(a)(1), (2), or (3) the Commissioner shall take the actions required under § 31-2003.
(3) In the event of an Regulatory Action Level Event under § 31-2004(a)(4), (5), (6), (7), (8), or (9) or an Authorized Control Level Event, the Commissioner shall take the actions required under § 31-2004 with respect to the insurer.
(4) In the event of a Mandatory Control Level Event with respect to an insurer, the Commissioner shall take the actions required under § 31-2005 with respect to the insurer.
(Apr. 9, 1997, D.C. Law 11-233, § 14, 44 DCR 765.)
Prior Codifications
1981 Ed., § 35-4613.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 21 - Standards to Identify Insurance Companies Deemed to Be in Hazardous Financial Condition › § 31–2103. Judicial review

§ 31–2103. Judicial review.
Any order or decision of the Mayor shall be subject to review in accordance with § 2-510, at the request of any person suffering a legal wrong or whose interests are adversely affected or aggrieved by the order or decision of the Mayor.
(Oct. 21, 1993, D.C. Law 10-43, § 4, 40 DCR 6023.)
Prior Codifications
1981 Ed., § 35-3503.
Cross References
Hospital and medical services corporation, applicability of this section, see § 31-3503.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22 - State of Entry for Non-U.S. Insurers › § 31–2201. Definitions

§ 31–2201. Definitions.
For the purposes of this chapter, the term:
(1) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking.
(1A) “District” means the District of Columbia.
(2) “Non-U.S. insurer” means an insurer organized under the laws of a foreign country.
(3) Repealed.
(4) “United States Branch” or “U.S. Branch” means the business unit through which business is transacted within the United States by a non-U.S. insurer and the assets and liabilities of the insurer within the United States pertaining to such business.
(May 24, 1996, D.C. Law 11-128, § 2, 43 DCR 1562; Mar. 24, 1998, D.C. Law 12-81, § 45(a), 45 DCR 745; June 11, 2004, D.C. Law 15-166, § 4(m), 51 DCR 2817.)
Prior Codifications
1981 Ed., § 35-4401.
Effect of Amendments
D.C. Law 15-166, in par. (1), substituted “Commissioner of the Department of Insurance, Securities, and Banking” for “Commissioner of Insurance and Securities”.
Emergency Legislation
For temporary (90 day) amendment of section, see § 4(m) of Consolidation of Financial Services Emergency Amendment Act of 2004 (D.C. Act 15-381, February 27, 2004, 51 DCR 2653).
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22 - State of Entry for Non-U.S. Insurers › § 31–2202. Authorization of entry

§ 31–2202. Authorization of entry.
(a) A non-U.S. insurer may use the District as a state of entry to transact insurance in the United States through a U.S. branch by:
(1) Qualifying as an insurer licensed to do business in the District; and
(2) Establishing a trust account, pursuant to a trust agreement approved by the Commissioner, with a U.S. bank approved by the Commissioner in an amount at least equal to the minimum capital and surplus required to be maintained by a domestic insurer licensed to do the same kind of insurance.
(b) Before authorizing the entry through the District of a U.S. branch of any non-U.S. insurer, the Commissioner shall require the non-U.S. insurer, in addition to the requirements of § 31-2204 and any other requirement of the insurance law, to submit:
(1) A copy of its charter and by-laws, if any, currently in force, and such other documents necessary to show the kinds of business which it is empowered to do in its domiciliary jurisdiction, attested to as accurate and complete by the insurance supervisory official in its home jurisdiction, and a full statement, subscribed and affirmed as true under the penalties of perjury by 2 officers or equivalent responsible representatives in such manner as the Commissioner shall prescribe, of its financial conditions as of the close of its latest fiscal year, showing its assets, liabilities, income disbursements, business transacted, and other facts required to be shown in its annual statement, as reported to the insurance supervisory official in its home jurisdiction, and an English language translation, as necessary, of any of the documents required herein; and
(2) To an examination of the insurer’s affairs at its principal office within the United States. However, the Commissioner may instead accept a report of the insurance supervisory official of the insurer’s home jurisdiction.
(May 24, 1996, D.C. Law 11-128, § 3, 43 DCR 1562; Mar. 24, 1998, D.C. Law 12-81, § 45(b), 45 DCR 745.)
Prior Codifications
1981 Ed., § 35-4402.
Section References
This section is referenced in § 31-1371.01.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22 - State of Entry for Non-U.S. Insurers › § 31–2203. Maintenance of trust account

§ 31–2203. Maintenance of trust account.
The assets in the trust account shall be known as trusteed assets and shall at all times be in an amount equal to the U.S. branch’s reserves and other liabilities plus the minimum capital and surplus required to be maintained by a domestic insurer licensed to do the same kind of insurance.
(May 24, 1996, D.C. Law 11-128, § 4, 43 DCR 1562.)
Prior Codifications
1981 Ed., § 35-4403.
Section References
This section is referenced in § 31-2204 and § 31-2306.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22 - State of Entry for Non-U.S. Insurers › § 31–2206. Additional requirements for U.S. Branch license

§ 31–2206. Additional requirements for U.S. Branch license.
(a) Before issuing any new or renewal license to any U.S. Branch, the Commissioner may require satisfactory proof, either in the non-U.S. insurer’s charter or by an agreement evidenced by a duly certified resolution of its board of directors, or otherwise as the Commissioner may require, that the insurer will not engage in any insurance business in contravention of the provisions of this chapter or not authorized by its charter.
(b) The Commissioner shall issue a renewal license to any U.S. Branch if satisfied, by such proof as required, that the insurer is not delinquent with respect to any requirement imposed by this chapter and that its continuance in business in the District will not be hazardous or prejudicial to the best interest of the people of the District.
(c) No U.S. Branch shall be licensed to do in the District any kind of insurance business, or any combination of kinds of insurance business, which are not permitted to be done by domestic insurers licensed under the provisions of this chapter. No U.S. Branch shall be authorized to do an insurance business in the District if it does anywhere within the United States any kind of business other than an insurance business and the business necessarily or properly incidental to the kinds of insurance business which it is authorized to do in the District.
(d) Except as otherwise specifically provided, no U.S. Branch, entering through the District or another state, shall be or continue to be authorized to do an insurance business in the District if it fails to comply substantially with any requirement or limitation of this chapter applicable to similar domestic insurers hereafter organized, which in the judgment of the Commissioner is reasonably necessary to protect the interest of the policyholders.
(e) No U.S. Branch that does outside of the District any kind or combination of kinds of insurance business not permitted to be done in the District by similar domestic insurers hereafter organized shall be or continue to be authorized to do an insurance business in the District, unless in the judgment of the Commissioner the doing of such kind or combination of kinds of insurance business will not be prejudicial to the best interest of the people of the District.
(f) No U.S. Branch shall be, or continue to be, authorized to do an insurance business in the District if it fails to keep full and correct entries of its transactions, which shall at all times be open to the inspection of persons invested by law with the rights of inspection and be maintained in its principal office within the District.
(May 24, 1996, D.C. Law 11-128, § 7, 43 DCR 1562; Mar. 24, 1998, D.C. Law 12-81, § 45(e), 45 DCR 745.)
Prior Codifications
1981 Ed., § 35-4406.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22 - State of Entry for Non-U.S. Insurers › § 31–2207. Authority of the Commissioner

§ 31–2207. Authority of the Commissioner.
Whenever it appears to the Commissioner from any annual or quarterly statement, trusteed surplus statement, or any other report that a U.S. Branch’s trusteed surplus is reduced below minimum capital and surplus required to be maintained by a domestic insurer licensed to transact the same kinds of insurance, the Commissioner may proceed against the insurer pursuant to the provisions of District law as an insurer whose condition is such that its further transaction of business in the United States will be hazardous to its policyholders, its creditors, or the public in the United States.
(May 24, 1996, D.C. Law 11-128, § 8, 43 DCR 1562; Mar. 24, 1998, D.C. Law 12-81, § 45(f), 45 DCR 745.)
Prior Codifications
1981 Ed., § 35-4407.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.01. Definitions

§ 31–2231.01. Definitions.
For the purposes of this chapter, the term:
(1) “Agent” or “Broker” means a person who solicits, negotiates, effects, procures, delivers, renews, continues, or binds policies of insurance for persons or risks residing, located, or to be performed in the District of Columbia.
(2) “Annuity contract” means an agreement to make periodic payments in fixed dollar amounts under the terms of a contract for a stated period of time or for the life of the person specified in the contract.
(3) “Commissioner” means the Commissioner of the Department of Insurance and Securities Regulation.
(3A) “Gender identity or expression” shall have the same meaning as provided in § 2-1401.02(12A).
(4) “Insurance business” means the transaction of all matters pertaining to a contract of insurance, both before and after the effectuation of the contract, and all matters arising out of the contract or a claim thereunder.
(5) “Insurance policy” or “insurance contract” means a contract of insurance, indemnity, medical, health, or hospital service; a health maintenance organization plan or coverage; a suretyship; or an annuity that is issued, proposed for issuance, or intended for issuance.
(6) “Insured” means the party named on a policy or contract as the individual with legal rights to the benefits provided by the policy or contract.
(7) “Insurer” means a person, interinsurer, Lloyd’s insurer, fraternal benefit society, health maintenance organization, or any other legal entity engaged in the business of insurance, including agents, brokers, and third-party administrators. Insurer shall also mean medical service plans and hospital service plans.
(8) “Person” means any natural or artificial entity, including individuals, partnerships, associations, trusts, or corporations.
(9) “Unfair trade practices” means the commission of any one or more of the acts prohibited by §§ 31-2231.02 through 31-2231.21, or regulations promulgated hereunder, with such frequency to indicate a general business practice to engage in the proscribed conduct.
(Apr. 3, 2001, D.C. Law 13-265, § 101, 48 DCR 1225; June 25, 2008, D.C. Law 17-177, § 16(a), 55 DCR 3696.)
Section References
This section is referenced in § 31-3311.02.
Effect of Amendments
D.C. Law 17-177 added par. (3A).
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.02. General prohibition

§ 31–2231.02. General prohibition.
(a) This chapter shall be construed to permit an administrative remedy only, and nothing in this chapter shall be construed to create or imply a private cause of action for a violation of this chapter.
(b) This chapter shall not be construed to extinguish, limit, or otherwise impair any existing right in law or equity for conduct that is otherwise actionable.
(Apr. 3, 2001, D.C. Law 13-265, § 102, 48 DCR 1225.)
Section References
This section is referenced in § 31-2231.01.
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.03. Misrepresentations and false advertising of insurance policies

§ 31–2231.03. Misrepresentations and false advertising of insurance policies.
No person shall make, issue, circulate, or cause to be made, issued or circulated, an estimate, illustration, circular or statement, sales presentation, omission, or comparison that:
(1) Misrepresents the benefits, advantages, conditions, or terms of a policy;
(2) Misrepresents the dividends or share of the surplus to be received on a policy;
(3) Makes a false or misleading statement as to the dividends or share of surplus previously paid on a policy;
(4) Is misleading or is a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which a life insurer operates;
(5) Uses a name or title of a policy or class of policies misrepresenting the true nature thereof;
(6) Is a misrepresentation, including an intentional erroneous quotation of a premium rate for the purpose of inducing, or tending to induce, the purchase, lapse, forfeiture, exchange, conversion, or surrender of a policy;
(7) Is a misrepresentation for the purpose of effecting a pledge or assignment of, or effecting a loan against, a policy;
(8) Misrepresents a policy as being shares of stock; or
(9) Uses a name which deceptively infers or suggests that it is an insurer if it is not an insurer.
(Apr. 3, 2001, D.C. Law 13-265, § 103, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.04. False information and advertising generally

§ 31–2231.04. False information and advertising generally.
No person shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine, or other publication, or in a notice, circular, pamphlet, letter, or poster, or over a radio or television station, or in any other way, an advertisement, announcement, or statement containing an assertion, representation, or statement with respect to the business of insurance or with respect to an insurer in the conduct of its insurance business which is untrue, deceptive, or misleading.
(Apr. 3, 2001, D.C. Law 13-265, § 104, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.05. Defamation

§ 31–2231.05. Defamation.
No person shall make, publish, disseminate, or circulate, directly or indirectly, or aid, abet, or encourage the making, publishing, disseminating or circulating, of an oral or written statement or a pamphlet, circular, article, or literature, which is false with respect to, maliciously critical of, or derogatory to, the financial condition of an insurer and which is calculated to injure the insurer.
(Apr. 3, 2001, D.C. Law 13-265, § 105, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.06. Boycott, coercion, and intimidation

§ 31–2231.06. Boycott, coercion, and intimidation.
No person shall enter into an agreement to commit, or by a concerted action commit, an act of boycott, coercion, or intimidation resulting in, or tending to result in, unreasonable restraint of, or monopoly in, the business of insurance.
(Apr. 3, 2001, D.C. Law 13-265, § 106, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.07. Illegal dealing in premiums; excess charges for insurance

§ 31–2231.07. Illegal dealing in premiums; excess charges for insurance.
(a) Subject to the acceptance of the risk by the insurer, no person shall willfully collect a premium or charge for insurance which is not then provided, or is not in due course to be provided, by an insurance policy issued by an insurer.
(b) No person shall willfully collect as a premium or charge for insurance a sum in excess of the premium or charge specified in the policy and applicable to such insurance in accordance with the classifications and rates as filed with and approved by the Commissioner. In a case where the classifications, premiums, or rates are not required to be filed and approved, the premium or charge shall not be in excess of that specified in the policy and fixed by the insurer. This subsection shall not prohibit a reasonable fee or charge for insurance premium payment plans, regardless of the number of installment payments involved.
(Apr. 3, 2001, D.C. Law 13-265, § 107, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.08. False statements and entries

§ 31–2231.08. False statements and entries.
(a) No person shall knowingly file with an insurance regulatory or other public official, knowingly make, publish, disseminate, circulate, or deliver to a person, or place before the public, or knowingly cause directly or indirectly to be made, published, disseminated, circulated, delivered to a person, or placed before the public, a false material statement of fact as to the financial condition of an insurer.
(b) No person shall knowingly:
(1) Make a false entry of a material fact in a book, report, or statement of an insurer;
(2) With intent to deceive an agent of the Commissioner lawfully appointed to examine the insurer’s condition or any of its affairs, fail to make a true entry of any material fact pertaining to the business of an insurer in a book, report, or statement of the insurer; or
(3) Make a false material statement to an insurance department official.
(Apr. 3, 2001, D.C. Law 13-265, § 108, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.09. Stock operations and advisory board contracts

§ 31–2231.09. Stock operations and advisory board contracts.
No person, as an inducement to purchase insurance, shall issue or deliver, or permit its agents, officers, or employees to issue or deliver:
(1) Agency company stock or other capital stock, benefit certificates, or shares in a common law corporation;
(2) Securities; or
(3) A special or advisory board contract or other contracts of any kind promising returns and profits.
(Apr. 3, 2001, D.C. Law 13-265, § 109, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.10. Failure to maintain marketing and performance records

§ 31–2231.10. Failure to maintain marketing and performance records.
No person shall fail to maintain its books, records, documents, and other business records in such order that data regarding complaints, claims, rating, underwriting, and marketing are not accessible and retrievable for examination by the Commissioner. Data for at least the current calendar year and the 2 preceding years shall be maintained.
(Apr. 3, 2001, D.C. Law 13-265, § 110, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.14. Interlocking ownerships, management

§ 31–2231.14. Interlocking ownerships, management.
(a) An insurer may retain, invest in, or acquire the whole or any part of the capital stock of any other insurer, or have a common management with another insurer, unless the retention, investment, acquisition, or common management is inconsistent with another provision of law, or, by reason thereof, the business of the insurers with the public is conducted in a manner which substantially lessens competition generally in the insurance business or tends to create a monopoly.
(b) A person otherwise qualified may be a director of 2 or more insurers which are competitors unless the effect is to lessen substantially competition between insurers generally or tends materially to create a monopoly.
(Apr. 3, 2001, D.C. Law 13-265, § 114, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.15. Unfair financial planning practices; an insurance agent or broker

§ 31–2231.15. Unfair financial planning practices; an insurance agent or broker.
(a) No person shall hold himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matters, or trust and estate matters if the person is in fact engaged only in the sale of insurance policies or contracts.
(b)(1) No person shall engage in the business of financial planning without disclosing to the client before the execution of the agreement provided for in subsection (c) of this section or the solicitation of the sale of a product or service that:
(A) He or she is also an insurance salesperson; and
(B) A commission for the sale of an insurance product will be received in addition to a fee for financial planning, if it is the case.
(2) The disclosure under this subsection may be made by including it in a disclosure document required by federal or state securities law.
(c) All fees, other than commissions for financial planning by an insurance producer, shall be based upon a written agreement signed by the party to be charged in advance of the performance of the services under the agreement. A copy of the agreement shall be provided to the party to be charged at the time the agreement is signed by the party. The agreement shall specifically state:
(1) The services for which the fee is to be charged;
(2) The amount of the fee to be charged or the manner in which it will be determined; and
(3) The client shall not be required to purchase an insurance product through the person furnishing the agreement.
(d) The person furnishing the agreement shall retain a copy for at least 3 years after completion of services. A copy shall be available to the Commissioner upon request.
(Apr. 3, 2001, D.C. Law 13-265, § 115, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.16. Failure to provide claims history

§ 31–2231.16. Failure to provide claims history.
(a) A property and casualty insurer shall provide the following loss information for the 3 previous policy years to the first named insured within 30 days of receipt of the first named insured’s written request:
(1) On all claims, the date and description of occurrence, and the total amount of payments; and
(2) For any occurrence not included in paragraph (1) of this subsection, the date and description of the occurrence.
(b) If the first named insured is requested by a prospective insurer to provide detailed loss information other than that required under subsection (a) of this section, the first named insured may mail or deliver a written request to the insurer for the additional information. No prospective insurer shall request more detailed loss information than is reasonably required to underwrite the same line or class of insurance. The insurer shall provide the information under subsection (a) of this section to the first named insured as soon as possible, but not later than 20 days after the receipt of the written request. Notwithstanding any other provision of this section, no insurer shall be required to provide loss reserve information, and no prospective insurer may refuse to insure an applicant, solely because the prospective insurer is unable to obtain loss reserve information.
(c) The Commissioner may promulgate regulations to exclude the provision of the loss information as set forth in subsection (a) of this section for any line or class of insurance if it can be shown that the information is not needed for that line or class of insurance or if the provision of loss information is otherwise required by law.
(d) Information provided under subsection (a) of this section shall not be subject to discovery by a party other than the insured, the insurer, and the prospective insurer.
(Apr. 3, 2001, D.C. Law 13-265, § 116, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.18. Failure to maintain complaint handling procedures

§ 31–2231.18. Failure to maintain complaint handling procedures.
An insurer shall maintain a complete record of all complaints which it has received since the date of its last examination as otherwise required in this chapter. The record shall indicate the total number of complaints, their classification by line of insurance, the nature of each complaint, the disposition of each complaint, and the time to process each complaint. For purposes of the section, the term “complaint” shall mean a written communication from a policyholder, subscriber, claimant, or insurance department primarily expressing a grievance.
(Apr. 3, 2001, D.C. Law 13-265, § 118, 48 DCR 1225.)
2023 District of Columbia Code › Title 31 - Insurance and Securities › Chapter 22A - Unfair Insurance Trade Practices › § 31–2231.19. Misrepresentation in insurance application

§ 31–2231.19. Misrepresentation in insurance application.
(a) No person shall make false or fraudulent statements or representations on, or relative to, an application for an insurance policy for the purpose of obtaining a fee, commission, money, or other benefit from a provider or individual person.
(b) No person shall cause to be presented a false or fraudulent claim, or proof in support of a claim, for the payment of the loss upon a contract of insurance or prepare, make, or subscribe a false or fraudulent account, certificate, affidavit, proof of loss, or other document or writing with the intent that it may be presented or used in support of a false or fraudulent claim.
(Apr. 3, 2001, D.C. Law 13-265, § 119, 48 DCR 1225.)