Connecticut Administrative Code
Title 38a - Insurance Department
72 - Risk Based Capital For Insurers
Section 38a-72-12 - Phase-in provision
Universal Citation: CT Reg of State Agencies 38a-72-12
Current through March 14, 2024
(a) 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 sections 38a-72-3, 38a-72-4, 38a-72-5, and 38a-72-6:
(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 a Regulatory Action Level Event under section
38a-72-4(a)
(1), (2), or (3) the commissioner shall take the actions required under section
38a-72-3.
(3) In the event of a regulatory Action Level
Event under section
38a-72-4(a)
(4), (5), (6), (7), (8), or (9) or an Authorized Control Level Event, the
commissioner shall take the actions required under section
38a-72-4
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 section
38a-72-5
with respect to the insurer.
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