23-69-405. Own risk and solvency assessment — Requirements.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-69-405. Own risk and solvency assessment — Requirements.

23-69-405. Own risk and solvency assessment — Requirements. Except as provided in § 23-69-407, an insurer or the insurance group that the insurer is a member of shall perform an own risk and solvency assessment: (1) According to the Own Risk and Solvency Assessment Guidance Manual or a comparable process; and (2) Annually, or at any time a significant change to the risk profile of the insurer or the insurance group of which the insurer is a member occurs.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-69-405

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Arkansas Code — all titles (historical 2020) · legal_authorities

23-69-407. Exemption — Applicability.

23-69-407. Exemption — Applicability. (a) An insurer is exempt from this subchapter if: (1) The insurer has annual direct written and unaffiliated assumed premiums, including international direct and assumed premiums, but excluding premiums reinsured with the Federal Crop Insurance Corporation and National Flood Insurance Program, of less than five hundred million dollars ($500,000,000); and (2) The insurance group of which the insurer is a member has annual direct written and unaffiliated assumed premiums, including international direct and assumed premiums, but excluding premiums reinsured with the Federal Crop Insurance Corporation and National Flood Insurance Program, of less than one billion dollars ($1,000,000,000). (b)(1) If an insurer qualifies for an exemption under subdivision (a)(1) of this section and the insurance group of which the insurer is a member does not qualify for an exemption under subdivision (a)(2) of this section, then an own risk and solvency assessment summary report required under § 23-69-406 shall include every insurer that is a member of the insurance group. (2) In order to meet the requirement under subdivision (b)(1) of this section, an insurer may submit more than one (1) own risk and solvency assessment summary report for any combination of insurers if any combination of own risk and solvency assessment summary reports includes every insurer within the insurance group. (c) If an insurer does not qualify for an exemption under subdivision (a)(1) of this section and the insurance group of which the insurer is a member does qualify for an exemption under subdivision (a)(2) of this section, then only an own risk and solvency assessment summary report applicable to the insurer is required under § 23-69-406. (d)(1) An insurer t

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-69-407

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-69-407. This identifies an authority to review, not proof of applicability.