§ 221.7-A. Regulatory action level event
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 221.7-A
§ 221.7-A. Regulatory action level event
(2) shall perform an examination under Article IX1 or analysis as the commissioner deems necessary of the assets, liabilities and operations of the insurer, including, if applicable, a review of its RBC plan or revised RBC plan; and
(b) In determining corrective actions, the commissioner may take into account factors as the commissioner deems relevant with respect to the insurer based upon the commissioner's examination or analysis of the assets, liabilities and operations of the insurer, including, but not limited to, the results of any sensitivity tests undertaken pursuant to the RBC instructions.
(d) The commissioner may retain actuaries, investment experts, attorneys, appraisers, certified public accountants and other professionals and specialists as may be necessary in the judgment of the commissioner to review the insurer's RBC plan or revised RBC plan, examine or analyze the assets, liabilities and operations of the insurer and formulate the corrective order with respect to the insurer. The fees, costs and expenses relating to professionals and specialists retained under this section shall be charged to and paid by the affected insurer or other party as directed by the commissioner.
Credits
1921, May 17, P.L. 789, No. 285, § 507-A, added 1997, June 25, P.L. 349, No. 40, § 1, imd. effective.
Footnotes
40 P.S. § 323.1 et seq.
40 P.S. § 221.7-A, PA ST 40 P.S. § 221.7-A
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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