Okla. Stat. tit. 36, § 36-1523
This is the official text of Okla. Stat. tit. 36, § 36-1523, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Annual risk-based capital report - Factors - Adjustment
Official statutory text
of inaccurate reports.
A. Every domestic insurer shall, on or prior to each March 1,
which shall be known as the filing date, prepare and submit to the
Insurance Commissioner a report of its RBC Levels as of the end of
the calendar year just ended, in a form and containing such
information as is required by the RBC Instructions, as adopted by
the Commissioner by rule. In addition, every domestic insurer shall
file its RBC Report with the NAIC if required by the Commissioner.
B. 1. A life and health insurer's or fraternal benefit
society's RBC shall be determined in accordance with the formula set
forth in the RBC Instructions, as adopted by the Commissioner by
rule. The formula shall take into account, and may adjust for the
covariance between, the following factors:
a. the risk with respect to the insurer's assets,
b. the risk of adverse insurance experience with respect
to the insurer's liabilities and obligations,
c. the interest rate risk with respect to the insurer's
business, and
d. all other business risks and such other relevant risks
as are set forth in the RBC Instructions.
2. These factors shall be determined in each case by applying
the factors in the manner set forth in the RBC Instructions.
C. 1. A property and casualty insurer's RBC shall be
determined in accordance with the formula set forth in the RBC
Instructions, as adopted by the Commissioner by rule. The formula
shall take into account, and may adjust for the covariance between,
the following factors:
a. asset risk,
b. credit risk,
c. underwriting risk, and
d. all other business risks and such other relevant risks
as are set forth in the RBC Instructions.
2. These factors shall be determined in each case by applying
the factors in the manner set forth in the RBC Instructions.
D. If a domestic insurer files an RBC Report which in the
judgment of the Commissioner is inaccurate, then the Commissioner,
after notice and opportunity for comment, shall adjust the RBC
Oklahoma Statutes - Title 36. Insurance Page 414
Report to correct the inaccuracy and shall notify the insurer of the
adjustment. The notice shall contain a statement of the reason for
the adjustment. An RBC Report so adjusted shall be referred to as
an "Adjusted RBC Report".
A. Every domestic insurer shall, on or prior to each March 1,
which shall be known as the filing date, prepare and submit to the
Insurance Commissioner a report of its RBC Levels as of the end of
the calendar year just ended, in a form and containing such
information as is required by the RBC Instructions, as adopted by
the Commissioner by rule. In addition, every domestic insurer shall
file its RBC Report with the NAIC if required by the Commissioner.
B. 1. A life and health insurer's or fraternal benefit
society's RBC shall be determined in accordance with the formula set
forth in the RBC Instructions, as adopted by the Commissioner by
rule. The formula shall take into account, and may adjust for the
covariance between, the following factors:
a. the risk with respect to the insurer's assets,
b. the risk of adverse insurance experience with respect
to the insurer's liabilities and obligations,
c. the interest rate risk with respect to the insurer's
business, and
d. all other business risks and such other relevant risks
as are set forth in the RBC Instructions.
2. These factors shall be determined in each case by applying
the factors in the manner set forth in the RBC Instructions.
C. 1. A property and casualty insurer's RBC shall be
determined in accordance with the formula set forth in the RBC
Instructions, as adopted by the Commissioner by rule. The formula
shall take into account, and may adjust for the covariance between,
the following factors:
a. asset risk,
b. credit risk,
c. underwriting risk, and
d. all other business risks and such other relevant risks
as are set forth in the RBC Instructions.
2. These factors shall be determined in each case by applying
the factors in the manner set forth in the RBC Instructions.
D. If a domestic insurer files an RBC Report which in the
judgment of the Commissioner is inaccurate, then the Commissioner,
after notice and opportunity for comment, shall adjust the RBC
Oklahoma Statutes - Title 36. Insurance Page 414
Report to correct the inaccuracy and shall notify the insurer of the
adjustment. The notice shall contain a statement of the reason for
the adjustment. An RBC Report so adjusted shall be referred to as
an "Adjusted RBC Report".
Status: in_force · Read it on the official government site
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