Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 20.00 - Risk-based Capital (rbc) For Insurers
Section 20.07 - Hearings
Current through Register 1531, September 27, 2024
Upon any of the following the insurer shall have the right to a confidential hearing, on a record, at which the insurer may challenge any determination or action by the Commissioner. The insurer shall notify the Commissioner of its request for a hearing within five days after the notification by the Commissioner under 211 CMR 20.07(1) through (4). Upon receipt of the insurer's request for a hearing, the Commissioner shall set a date for the hearing, which date shall be no less than ten nor more than 30 days after the date of the insurer's request.
(1) Notification to an insurer by the Commissioner of an Adjusted RBC Report; or
(2) Notification to an insurer by the Commissioner that:
(3) Notification to any insurer by the Commissioner that the insurer has failed to adhere to its RBC Plan or Revised RBC Plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the Company Action Level Event with respect to the insurer in accordance with its RBC Plan or Revised RBC Plan; or
(4) Notification to an insurer by the Commissioner of a corrective order with respect to the insurer.