Oregon Administrative Rules › Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION › Division 11 - ANNUAL STATEMENTS AND REPORTS BY INSURERS › Section 836-011-0520 - Regulatory Action Level Event

Current through Register Vol. 63, No. 7, July 1, 2024
(1)
			 "Regulatory Action Level Event" means, with respect to a health care service
			 contractor, any of the following events:
(a)
			 The filing of an RBC report by the health care service contractor that
			 indicates that the health care service contractor's total adjusted capital is
			 greater than or equal to its Authorized Control Level RBC but less than its
			 Regulatory Action Level RBC;
(b)
			 Notification by the Director to a health care service contractor of an adjusted
			 RBC report that indicates the event in subsection (a) of this section, if the
			 health care service contractor does not challenge the adjusted RBC report under
			 OAR 836-011-0535;
(c) If, pursuant
			 to OAR 836-011-0535, the health care service contractor challenges an adjusted
			 RBC report that indicates the event in subsection (a) of this section, the
			 notification by the Director to the health care service contractor that the
			 Director has, after a hearing, rejected the health care service contractor's
			 challenge;
(d) The failure of the
			 health care service contractor to file an RBC report by the filing date, unless
			 the health care service contractor has provided an explanation for the failure
			 that is satisfactory to the Director and has cured the failure within ten days
			 after the filing date;
(e) The
			 failure of the health care service contractor to submit an RBC plan to the
			 Director within the time period set forth in OAR 836-011-0515;
(f) Notification by the Director to the
			 health care service contractor that:
(A) The
			 RBC plan or revised RBC plan submitted by the health care service contractor
			 is, in the judgment of the Director, unsatisfactory; and
(B) Notification constitutes a Regulatory
			 Action Level Event with respect to the health care service contractor, if the
			 health care service contractor has not challenged the determination under OAR
			 836-011-0535;
(g) If,
			 pursuant to OAR 836-011-0535, the health care service contractor challenges a
			 determination by the Director under subsection (f) of this section, the
			 notification by the Director to the health care service contractor that the
			 Director has, after a hearing, rejected the challenge;
(h) Notification by the Director to the
			 health care service contractor that the health care service contractor has
			 failed to adhere to its RBC plan or revised RBC plan, but only if the failure
			 has a substantial adverse effect on the ability of the health care service
			 contractor to eliminate the Company Action Level Event in accordance with its
			 RBC plan or revised RBC plan and the Director has so stated in the
			 notification, if the health care service contractor has not challenged the
			 determination under OAR 836-011-0535; or
(i) If, pursuant to OAR 836-011-0535, the
			 health care service contractor challenges a determination by the Director under
			 subsection (h) of this section, the notification by the Director to the health
			 care service contractor that the Director has, after a hearing, rejected the
			 challenge.