Report requirement.
Every insurer domiciled in the District of Columbia shall file a report with the Commissioner of the Department of Insurance, Securities, and Banking (“Commissioner”) disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions of ceded reinsurance agreements unless such acquisitions and dispositions of assets or material nonrenewals, cancellations or revisions of ceded reinsurance agreements that have been submitted to the Commissioner for review, approval, or information purposes pursuant to other provisions of the insurance code, laws, regulations, or other requirements. The report required in subsection (a) of this section is due within 15 days after the end of the calendar month in which any of the transactions enumerated in subsection (a) of this section occur. One complete copy of the report, including any exhibits or other attachments, shall be filed with: The insurance department of the insurer’s state of domicile; and The National Association of Insurance Commissioners. Repealed.
Annotations
May 24, 1996, D.C. Law 11-123, § 2, 43 DCR 1542 Mar. 24, 1998, D.C. Law 12-81, § 42(a), 45 DCR 745 Oct. 21, 2000, D.C. Law 13-191, § 6(a), 47 DCR 7311 Apr. 13, 2005, D.C. Law 15-354, § 42, 52 DCR 2638 D.C. Law 15-354, in subsec. (a), substituted “of the Department of Insurance, Securities, and Banking” for “of Insurance and Securities”. “(d) All reports obtained by or disclosed to the Commissioner pursuant to this chapter shall be given confidential treatment and shall not be subject to subpoena, shall not be subject to disclosure under subchapter II of Chapter 15 of Title 1 1981 Ed., and shall not be made public by the Commissioner, the National Association of Insurance Commissioners, or any other person except to insurance departments of other states, without the prior written consent of the insurer to which it pertains, unless the Commissioner, after giving the insurer who would be affected notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication thereof, in which event the Commissioner may publish all or any part in the manner the Commissioner may deem appropriate.” D.C. Law 13-191 repealed subsec. (d) providing: 1981 Ed., § 35-4101. This section is referenced in § 31-1002 and § 31-1003.
Sourced from the DC Council Open Law Library (public domain).
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