§ 40-2c01 Risk-based capital requirements; definitions
§ 40-2c02 Risk-based capital report
§ 40-2c03 Determination of risk-based capital
§ 40-2c04 Risk-based capital report; adjustment
§ 40-2c05 Company action level event; defined
§ 40-2c06 Submission of RBC plan
§ 40-2c07 Risk-based capital plan; submission
§ 40-2c08 Same; notification by commissioner
§ 40-2c09 Same; notification a regulatory action level event
§ 40-2c10 Domestic insurer to file RBC plan in any state authorized to do business
§ 40-2c11 Regulatory action level event; defined
§ 40-2c12 Same; commissioner’s duties in regulatory action level event
§ 40-2c13 Corrective actions; submission of RBC plans, when
§ 40-2c14 Review of RBC plans; expenses
§ 40-2c15 Authorized control level event; defined
§ 40-2c16 Same; commissioner’s duties in authorized control level event
§ 40-2c17 Mandatory control event; defined
§ 40-2c18 Same; commissioner’s actions
§ 40-2c19 Hearing under Kansas administrative procedure act
§ 40-2c20 RBC reports, plans and corrective orders are confidential; not to be used by commissioner for rate making
§ 40-2c21 Comparison of insurer’s total adjusted capital to RBC levels, prohibited generally
§ 40-2c22 Provisions of act supplemental to other provisions of law
§ 40-2c23 Foreign insurer RBC report, when
§ 40-2c24 Commissioner may require foreign insurer to file RBC plan, when
§ 40-2c25 Mandatory control level event; foreign insurer; liquidation of property
§ 40-2c26 Notices by commissioner; effective, when
§ 40-2c27 Invalidity of act
§ 40-2c28 Property and casualty insurer exempt; when
§ 40-2c29 RBC; rules and regulations; conditions
lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Kansas Statutes > Chapter 40 > Article 2c - Risk-Based Capital Requirements

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • authorized control level RBC: means the number determined under the risk-based capital formula in accordance with the RBC instructions; and

    (4) "mandatory control level RBC" means the product of 0. See Kansas Statutes 40-2c01

  • Commissioner: means the commissioner of insurance. See Kansas Statutes 40-2c01
  • Corrective order: means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required to address an RBC level event. See Kansas Statutes 40-2c01
  • Domestic insurer: means any insurance company or risk retention group that is licensed and organized in this state. See Kansas Statutes 40-2c01
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Foreign insurer: means any insurance company or risk retention group not domiciled in this state that is licensed or registered to do business in this state pursuant to article 41 of chapter 40 of the Kansas Statutes Annotated, and amendments thereto, or Kan. See Kansas Statutes 40-2c01
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Life and health insurer: means any insurance company licensed under article 4 or 5 ofchapter 40 of the Kansas Statutes Annotated, and amendments thereto, or a licensed property and casualty insurer writing only accident and health insurance. See Kansas Statutes 40-2c01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • NAIC: means the national association of insurance commissioners. See Kansas Statutes 40-2c01
  • Negative trend: means , with respect to a life and health insurer, a negative trend over a period of time, as determined in accordance with the "trend test calculation" included in the RBC instructions defined in subsection (j). See Kansas Statutes 40-2c01
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Property and casualty insurer: means any insurance company licensed under articles 9, 10, 11, 12, 12a, 15 or 16 ofchapter 40 of the Kansas Statutes Annotated, and amendments thereto, but does not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers. See Kansas Statutes 40-2c01
  • RBC: means risk-based capital. See Kansas Statutes 40-2c01
  • RBC instructions: means the risk-based capital instructions promulgated by the NAIC that are in effect on December 31, 2022, or any later version promulgated by the NAIC as may be adopted by the commissioner under Kan. See Kansas Statutes 40-2c01
  • RBC level: means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC or mandatory control level RBC where:

    (1) "Company action level RBC" means, with respect to any insurer, the product of 2. See Kansas Statutes 40-2c01

  • RBC plan: means a comprehensive financial plan containing the elements specified in Kan. See Kansas Statutes 40-2c01
  • RBC report: means the report required by Kan. See Kansas Statutes 40-2c01
  • regulatory action level RBC: means the product of 1. See Kansas Statutes 40-2c01
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Total adjusted capital: means the sum of:

    (1) An insurer's capital and surplus or surplus only if a mutual insurer; and

    (2) such other items, if any, as the RBC instructions may provide. See Kansas Statutes 40-2c01

  • trend test calculation: include d in the RBC instructions defined in subsection (j). See Kansas Statutes 40-2c01