Current through Register Vol. 49, No. 18, September 16, 2024
(1)
The post-examination procedure will be conducted in a manner consistent with
the purposes of section
374.185,
RSMo. In accordance with the National Association of Insurance Commissioners
(NAIC) market conduct uniform examination procedures and section
374.205,
RSMo, the director will adhere to the following timelines and procedures
following the completion of an examination, unless the division and the company
mutually agree to modify the timeline:
(A) No
later than sixty (60) days following completion of the examination, the
examiner-in-charge or audit manager will file with the department a verified
draft report of examination under oath. Completion of the examination will be
defined as the date the examiner-in-charge signs and submits the draft report
to the audit manager for approval and signature;
(B) Within ten (10) days of receipt of the
verified draft report, the division will send the draft report via certified
mail to the company together with a notice which affords the company examined a
reasonable opportunity to respond with written comments or make a written
submission or rebuttal with respect to any matter contained in the examination
report;
(C) The company is not
obligated to submit written comments, submissions, or rebuttals to the draft
report as allowed in subsection (1)(B) of this rule. However, if the company
chooses to do so, its written response is due within thirty (30) days of
receipt of the draft report, unless a mutual agreement is reached with the
division to extend the deadline;
(D) The division will make a good faith
effort to informally resolve issues and prepare a final report of after receipt
of the company's written comments, submissions, or rebuttals;
(E) The division may modify the examination
findings and finalize the report, as appropriate. Upon determination that the
report is final, the division will forward a copy of the final report to the
company along with a notice apprising the company of its rights under
subsection (1)(F), below;
(F) The
company may, within thirty (30) days of receipt of the final report, accept the
final report, accept the findings of the report, file written comments, or
petition the director to modify the findings with a written request for a
confidential investigatory hearing pursuant to section 374.205.3(3)(c). The
company is not obligated to submit a response to the final report. The director
may allow an additional thirty (30) days if requested by the company. If the
company submits a written request for a hearing within the time allowed, a
hearing will be held in accordance with the process in section 374.205.3(4),
RSMo. Within twenty (20) days of the conclusion of the hearing, the director
will issue an order pursuant to section 374.205.3(3)(a), RSMo; and
(G) If a hearing pursuant to subsection
(1)(F) above is not requested, within thirty (30) days of the end of the period
allowed for the receipt of an acceptance or comments by the company, the
director will fully consider and review the report, together with any written
comments, any relevant portions of the examiner's work papers, and any proposed
settlement, and enter an order pursuant to section 374.205.3(3)(a), (b) or (d).
(2) Ten (10) days after
adoption of the final examination report pursuant to section 374.205.3(3)(a),
the department will make available written and electronic versions of the final
report. Both versions of the final report will include any written response of
the company, at its option, and any negotiated text of the examination report
and the concluding document, whether that is an administrative order of the
director, curative order of the director, or a stipulation of settlement and
order.
(3) All orders entered
pursuant to section 374.205.3(3)(a) under subsections (1)(F) or (1)(G) will be
accompanied by findings and conclusions resulting from the director's
consideration and review of the examination report, relevant examiner work
papers, and any written submissions, rebuttals, or comments submitted by the
company. Any order issued pursuant to section 374.205.3(3)(b), (c), or (d)
under subsections (1)(F) or (1)(G) will not be considered a final order. Any
order issued pursuant to section 374.205.3(3)(a) under subsections (1)(F) or
(1)(G) will be considered a final administrative decision and may be appealed
pursuant to section
536.150,
RSMo, and will be served upon the company by certified mail, together with a
copy of the final examination report.
*Original authority: 374.045, RSMo 1967, amended 1993,
1995; 374.185, RSMo 2007; and 374.205, RSMo 1992, amended 1997,
1999.
