Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 2 - Division of Insurance › Chapter 21 - Insurer - Financial › Article 1 - Insurance Holding Companies › 3 AAC 21.188 - Enterprise risk report

Current through May 31, 2024
The ultimate controlling person of an insurer required to
					 file an enterprise risk report under
					 AS
					 21.22.060(n) shall furnish
					 the required information on Form F, made a part of this section in
					 substantially the following form:
FORM F
ENTERPRISE RISK REPORT
Filed with the Insurance Division/Department of the State
					 of _______
By
_________________________
(Name of Registrant)
On behalf of the Following Insurance Companies
Name Address
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
Date: ______________, 20 _____
Name, Title, Address, Electronic Mail Address, and
					 telephone number of Individual to Whom Notices and Correspondence Concerning
					 This Statement Should Be Addressed:
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
ITEM 1. ENTERPRISE RISK
The Registrant, to the best of its knowledge and belief,
					 shall provide information regarding the following areas that could produce
					 enterprise risk as defined in
					 AS
					 21.22.200 provided the information is not
					 disclosed in the Insurance Holding Company System Annual Registration Statement
					 filed on behalf of itself or another insurer for which it is the ultimate
					 controlling person:
(a) any material
				  developments regarding strategy, internal audit findings, compliance, or risk
				  management affecting the insurance holding company system;
(b) acquisition or disposal of insurance
				  entities and reallocating of existing financial or insurance entities within
				  the insurance holding company system;
(c) any changes of shareholders of the
				  insurance holding company system exceeding 10 percent or more of voting
				  securities;
(d) developments in
				  various investigations, regulatory activities, or litigation that may have a
				  significant bearing or impact on the insurance holding company
				  system;
(e) the business plan of
				  the insurance holding company system and summarized strategies for the next 12
				  months;
(f) identification of
				  material concerns of the insurance holding company system raised by a
				  supervisory college, if any, in the last year;
(g) identification of insurance holding
				  company system capital resources and material distribution patterns;
(h) identification of any negative movement,
				  or discussions with rating agencies which may have caused, or may cause,
				  potential negative movement in the credit ratings and individual insurer
				  financial strength ratings assessment of the insurance holding company system
				  (including both the rating score and outlook);
(i) information on corporate or parental
				  guarantees throughout the holding company and the expected source of liquidity
				  should the guarantees be called upon; and
(j) identification of any material activity
				  or development of the insurance holding company system that, in the opinion of
				  senior management, could adversely affect the insurance holding company system.
The Registrant may attach the appropriate form most
					 recently filed with the United States Securities and Exchange Commission,
					 provided the Registrant includes specific references to those areas listed in
					 Item 1 for which the form provides responsive information. If the Registrant is
					 not domiciled in the United States, it may attach its most recent public
					 audited financial statement filed in its country of domicile, provided the
					 Registrant includes specific references to those areas listed in Item 1 for
					 which the financial statement provides responsive
					 information.