California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 3 - Annual Statements › Premiums in Course of Collection › Section 2303.21 - Required Deposits, Fees and Filing Offices

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) All costs and expenses incurred by the
					 Department in connection with the review of an application, request or filing
					 made under this article by or on behalf of an insurer or reinsurance
					 intermediary in excess of any deposit paid shall be billed to the insurer or
					 reinsurance intermediary making the application, request or filing. The
					 Commissioner shall maintain a schedule of the deposits required under this
					 article on the Department's website and, after 90 days' notice provided on the
					 website schedule, may revise the deposit amounts as necessary to substantially
					 cover the expected costs of review.
(b) As used in Code Section
					 924, which assesses late fees for
					 the failure to make timely filings, the term "statements or stipulations" shall
					 include all filings required by this article and the filings made pursuant to
					 Code Section
					 1011.5.
(c) The initial application and annual
					 filings required by Section
					 2303.4 of this article for
					 accredited reinsurers shall be submitted in duplicate, except that only one
					 copy of the items listed in Section
					 2303.4(b)(5)(D)
					 of this article is required, accompanied by a deposit of $1,500.00. The
					 application shall consist of a cover letter transmitting the items specified in
					 Section 2303.4
(d) The initial application and annual
					 filings required by Section
					 2303.5 of this article for an
					 approved U.S. trust, and the application for approval of trust amendments,
					 shall be submitted in duplicate, except that with respect to financial
					 documents provided to the Oversight State, duplicate copies are required only
					 of the audit report, actuarial opinion and CPA report. The requesting reinsurer
					 or group of affiliated insurers shall provide the Department with a $3,000
					 deposit in conjunction with the initial application for approval of a U.S.
					 trust, a $500 deposit for review of an amendment to the form of an approved
					 U.S. trust, and a $1,500 deposit with the annual filing. The application shall
					 consist of a cover letter transmitting the items specified in Section
					 2303.5.
(e) A deposit of $500 shall accompany
					 examination requests made pursuant to Section
					 2303.8(d) of this
					 article for a determination that a letter of credit form meets the requirements
					 of Section
					 2303.8(c). The
					 application shall consist of a cover letter and a copy of the proposed letter
					 of credit.
(f) An application for
					 the consent required by Section
					 2303.15(b) of
					 this article to retain less than 10% of direct premium written per line of
					 business shall be submitted for examination in duplicate, accompanied by a
					 deposit of $1,500. The application shall include a cover letter explaining the
					 proposed reinsurance arrangements, including the business necessity for the
					 exception.
(g) An application
					 submitted pursuant to Section
					 2303.15(e) of
					 this article concerning a reinsurance agreement, or a sale and purchase
					 transaction as defined in Section
					 2303.15(c)3.,
					 subject to Code Section
					 1011(c) shall be
					 submitted in duplicate, accompanied by the fee required for an application made
					 under Code Section
					 1011.5. The form and instructions
					 for applications not in the form of the notice permitted by Section
					 2303.15(e) may be
					 obtained from the Corporate Affairs Bureau at the address provided in
					 subdivision (k) of this section or from the Department's public website at
www.insurance.ca.gov
.
(h) The initial application or passport
					 application, and annual filings required by Code Section
					 922.41 for certified reinsurers
					 shall be submitted in duplicate, accompanied by a deposit of $1,500. The
					 application shall consist of a cover letter transmitting the items specified in
					 Code Section
					 922.41 or the NAIC Uniform
					 Application Checklist for Certified Reinsurers.
(i) A filing for the examination required by
					 Section 2303.15(q) of
					 this article for a determination of compliance with Code Section
					 700(c) shall
					 include all supporting documents required for an initial application for a
					 Certificate of Authority, shall be made in duplicate, and shall be accompanied
					 by a deposit of $1,500. The application forms and instructions may be obtained
					 from the Corporate Affairs Bureau at the address provided in subdivision (k) of
					 this section or from the Department's public website at
www.insurance.ca.gov
.
(j) Applications made pursuant to Section
					 2303.16 of this article for the
					 examination of a reinsurance intermediary shall be submitted in duplicate,
					 accompanied by a deposit of $1,000.
(k) The applications, annual filings and
					 requests made pursuant to subdivisions (c) through (j) of this section shall be
					 submitted to:
CALIFORNIA DEPARTMENT OF INSURANCE
CORPORATE AFFAIRS BUREAU
1901 HARRISON STREET, 3RD FLOOR MAILROOM
OAKLAND, CA 94612
All other filings or notices required or permitted by
						this article shall be accompanied by an explanation of the reason for the
						filing or notice and shall be submitted to:
CALIFORNIA DEPARTMENT OF INSURANCE
FINANCIAL ANALYSIS DIVISION
300 SOUTH SPRING STREET, SOUTH TOWER
LOS ANGELES, CA 90013
(l) The notification required by Code Section
					 922.31 related to reinsurance
					 recoverables and reinsurance program diversification, including supporting
					 documentation demonstrating that the exposure is safely managed by the domestic
					 ceding insurer, shall be submitted using the Department's Online Assistance
					 System for Insurer Submittals (OASIS) in the format published on the
					 Department's public website at
www.insurance.ca.gov
.
1. New
						section filed 10-24-2006; operative 11-23-2006 (Register 2006, No.
						43).
2. Change without regulatory effect renumbering former section
						2303.21 to section
						2303.20 and renumbering former
						section 2303.22 to new section
						2303.21, including amendment of
						subsection (k) and NOTE, filed 3-25-2015 pursuant to section
						100, title 1, California Code of
						Regulations (Register 2015, No. 13).
3. Amendment section and NOTE
						filed 11-27-2017; operative 1-1-2018 (Register 2017, No. 48).
4.
						Change without regulatory effect amending subsection (k) filed 8-27-2020
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 2020, No. 35).
Note: Authority cited: Sections
						  720,
						  730,
						  736,
						  922.31,
						  922.43,
						  922.8,
						  922.85,
						  924,
						  1011.5,
						  1215.9,
						  1781.12 and
						  12921,
						  Insurance Code; CalFarm Insurance Company v. Deukmejian, 48 Cal. 3d 805 (1989);
						  and 20th Century Insurance Company v. Garamendi, 8 Cal. 4th 216 (1994).
						  Reference: Sections
						  700,
						  717,
						  717.5,
						  730,
						  733,
						  736,
						  922.31,
						  922.4,
						  922.41,
						  922.43,
						  922.5,
						  923,
						  924,
						  1011.5,
						  1215.5(b)(3)
						  and
						  1781.10,
						  Insurance Code.