Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 51 - Capital Requirements For Insurers
Subchapter I - Risk Based Capital Requirement for Insurers
Section Ins 51.50 - Hearings
Universal Citation: WI Admin Code ยง Ins 51.50
Current through August 26, 2024
(1) An insurer shall have the right to a hearing, on a record, at which the insurer may challenge any determination or action by the commissioner under this subchapter upon any of the following:
(a) Notification to an insurer by the
commissioner of an adjusted risk based capital report.
(b) Notification to an insurer by the
commissioner of all of the following:
1. The
insurer's risk based capital plan or revised risk based capital plan is
unsatisfactory.
2. Such
notification constitutes a regulatory action level event with respect to such
insurer.
(c)
Notification to any insurer by the commissioner that the insurer has failed to
adhere to its risk based capital plan or revised risk based capital 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 risk based capital plan or revised risk based capital
plan.
(d) Notification to an
insurer by the commissioner of a corrective order with respect to the insurer
under this subchapter.
(2) The procedures established under ss. 601.62, 601.63, and 645.21, Stats., apply to an order, determination or hearing under this chapter.
(3) This section does not apply to an action by the commissioner based on ch. 645, Stats., subch. II or any other provision of the statutes or rules other than this subchapter. An insurer's right to a hearing, if any, is solely governed by those provisions and not this section.
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