Title 31, Insurance and Securities.

(a) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance manager on its behalf unless the person is licensed as required by § 31-1802(b). (b) The reinsurer shall annually obtain a copy of statements of the financial co…

(a) A reinsurance intermediary shall be subject to examination by the Mayor. The Mayor shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the Mayor. (b) A reinsurance manager may be examined as if it were the reinsurer.

(a) If the Mayor determines that the reinsurer intermediary or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the Mayor may order: (1) For each separate violation, a pena…

(a) Every company or association authorized to transact insurance business in the District shall file annually with the Mayor, before March 1st of each year, a financial statement for the year ending December 31st immediately preceding on forms furnished by the Mayor. The Mayor m…

(a) In the absence of fraud, actual malice, or bad faith, members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others, including District employees, charged with the responsibility of collecting, reviewing…

All financial analysis ratios and examination synopses and related information concerning insurance companies that are submitted to the Mayor by the NAIC Insurance Regulatory Information System are confidential and may not be disclosed by the Mayor or any member of the Department…

The Mayor may fine insurance companies or suspend, revoke, or refuse to renew the Certificate of Authority of any insurer failing to file its annual statement when due or within any extension of time which the Mayor, for good cause, may have granted.

For the purposes of this chapter, the term: (1) “Adjusted RBC Report” means an RBC report that has been adjusted by the Commissioner in accordance with § 31-2002(g). (2) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (3) “Corrective…

(a) Every domestic insurer shall, on or prior to each March 1 (“filing date”), prepare and submit to the 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. In add…

(a) For the purposes of this chapter, the term “Company Action Level Event” means any of the following events: (1) The filing of an RBC Report by an insurer which indicates that: (A) The insurer’s total adjusted capital is greater than or equal to its Regulatory Action Level RBC,…

(a) For the purposes of this chapter, the term “Regulatory Action Level Event” means, with respect to any insurer, any of the following events: (1) The filing of an RBC Report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its…

(a) For the purposes of this chapter, the term “Authorized Control Level Event” means any of the following events: (1) The filing of an RBC Report by the insurer which indicates that the insurer’s total adjusted capital is greater than or equal to its Mandatory Control Level RBC,…

(a) For the purposes of this chapter, the term “Mandatory Control Level Event” means any of the following events: (1) The filing of an RBC Report which indicates that the insurer’s total adjusted capital is less than its Mandatory Control Level RBC; (2) Notification by the Commis…

(a) The insurer shall have a right to a hearing, at which the insurer may challenge any of the following determinations or actions by the Commissioner: (1) Notification to an insurer by the Commissioner of an Adjusted RBC Report; (2) Notification to an insurer by the Commissioner…

(a) All RBC Reports (to the extent the information therein is not required to be set forth in a publicly available annual statement schedule) and RBC Plans (including the results or report of any examination or analysis of an insurer performed pursuant hereto and any Corrective O…

(a) The provisions of this chapter are supplemental to any other provisions of the laws of the District, and shall not preclude or limit any other powers or duties of the Commissioner under such laws, including, but not limited to, Chapter 13 and Chapter 21 of this title. (b) The…

(a) Any foreign insurer, upon the written request of the Commissioner, shall submit to the Commissioner an RBC Report as of the end of the calendar year just ended on the later of: (1) The date an RBC Report would be required to be filed by a domestic insurer under this chapter; …

There shall be no liability on the part of, and no cause of action shall arise against, the Commissioner or the Department of Insurance, Securities, and Banking or its employees or agents for any action taken by them in the performance of their powers and duties under this chapte…

All notices by the Commissioner to an insurer which may result in regulatory action hereunder shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer’s receipt of such notice.

(a) For RBC Reports required to be filed by life insurers with respect to 1993, the following requirements shall apply in lieu of the provisions of §§ 31-2003, 31-2004, 31-2005, and 31-2006: (1) In the event of a Company Action Level Event with respect to a domestic insurer, the …

(a) In order to determine whether the continued operation of any insurer transacting an insurance business in the District of Columbia might be deemed to be hazardous to the policyholders, creditors, or the general public, the Mayor may consider the following standards, either si…

(a) If the Mayor determines that the continued operation of the insurer licensed to transact business in the District of Columbia may be hazardous to its policyholders, creditors, or the general public, the Mayor may, upon his or her determination, issue an order requiring the in…

Any order or decision of the Mayor shall be subject to review in accordance with § 2-510, at the request of any person suffering a legal wrong or whose interests are adversely affected or aggrieved by the order or decision of the Mayor.

For the purposes of this chapter, the term: (1) “Commissioner” means the Commissioner of the Department of Insurance, Securities, and Banking. (1A) “District” means the District of Columbia. (2) “Non-U.S. insurer” means an insurer organized under the laws of a foreign country. (3…

(a) A non-U.S. insurer may use the District as a state of entry to transact insurance in the United States through a U.S. branch by: (1) Qualifying as an insurer licensed to do business in the District; and (2) Establishing a trust account, pursuant to a trust agreement approved …

The assets in the trust account shall be known as trusteed assets and shall at all times be in an amount equal to the U.S. branch’s reserves and other liabilities plus the minimum capital and surplus required to be maintained by a domestic insurer licensed to do the same kind of …

(a) The deed of trust and all amendments thereto shall be authenticated in such form and manner as the Commissioner may prescribe and shall not be effective unless approved by the Commissioner upon a finding that: (1) A deed of trust or its amendments are sufficient in form and i…

(a) In addition to other requirements of this chapter, every authorized U.S. Branch shall, not later than the first day of March in each year and 45 days after the end of each of the first 3 calendar-year quarters, file the following with the Commissioner and with the National As…

(a) Before issuing any new or renewal license to any U.S. Branch, the Commissioner may require satisfactory proof, either in the non-U.S. insurer’s charter or by an agreement evidenced by a duly certified resolution of its board of directors, or otherwise as the Commissioner may …

Whenever it appears to the Commissioner from any annual or quarterly statement, trusteed surplus statement, or any other report that a U.S. Branch’s trusteed surplus is reduced below minimum capital and surplus required to be maintained by a domestic insurer licensed to transact …

For the purposes of this chapter, the term: (1) “Agent” or “Broker” means a person who solicits, negotiates, effects, procures, delivers, renews, continues, or binds policies of insurance for persons or risks residing, located, or to be performed in the District of Columbia. (2) …

(a) This chapter shall be construed to permit an administrative remedy only, and nothing in this chapter shall be construed to create or imply a private cause of action for a violation of this chapter. (b) This chapter shall not be construed to extinguish, limit, or otherwise imp…

No person shall make, issue, circulate, or cause to be made, issued or circulated, an estimate, illustration, circular or statement, sales presentation, omission, or comparison that: (1) Misrepresents the benefits, advantages, conditions, or terms of a policy; (2) Misrepresents t…

No person shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine, or other publication, or in a notice, circular, pamphlet, l…

No person shall make, publish, disseminate, or circulate, directly or indirectly, or aid, abet, or encourage the making, publishing, disseminating or circulating, of an oral or written statement or a pamphlet, circular, article, or literature, which is false with respect to, mali…

No person shall enter into an agreement to commit, or by a concerted action commit, an act of boycott, coercion, or intimidation resulting in, or tending to result in, unreasonable restraint of, or monopoly in, the business of insurance.

(a) Subject to the acceptance of the risk by the insurer, no person shall willfully collect a premium or charge for insurance which is not then provided, or is not in due course to be provided, by an insurance policy issued by an insurer. (b) No person shall willfully collect as …

(a) No person shall knowingly file with an insurance regulatory or other public official, knowingly make, publish, disseminate, circulate, or deliver to a person, or place before the public, or knowingly cause directly or indirectly to be made, published, disseminated, circulated…

No person, as an inducement to purchase insurance, shall issue or deliver, or permit its agents, officers, or employees to issue or deliver: (1) Agency company stock or other capital stock, benefit certificates, or shares in a common law corporation; (2) Securities; or (3) A spec…

No person shall fail to maintain its books, records, documents, and other business records in such order that data regarding complaints, claims, rating, underwriting, and marketing are not accessible and retrievable for examination by the Commissioner. Data for at least the curre…

(a) No person shall commit or permit any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for a life insurance policy or contract, in the dividends or other benefits payable thereon, or in any other of the terms and co…

(a) No person shall knowingly: (1) Permit, or offer to make, a policy or contract of life insurance, annuity, or accident and health insurance, or agreement as to such policy or contract, other than as plainly expressed in the policy or contract issued thereon; or (2) Pay, allow,…

(a) No person offering property, casualty, or surety insurance, or an employee or representative thereof, shall pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insure, or after insurance has been effected, a rebate, discount, abat…

(a) An insurer may retain, invest in, or acquire the whole or any part of the capital stock of any other insurer, or have a common management with another insurer, unless the retention, investment, acquisition, or common management is inconsistent with another provision of law, o…

(a) No person shall hold himself or herself out, directly or indirectly, to the public as a financial planner, investment adviser, consultant, financial counselor, or any other specialist engaged in the business of giving financial planning or advice relating to investments, insu…

(a) A property and casualty insurer shall provide the following loss information for the 3 previous policy years to the first named insured within 30 days of receipt of the first named insured’s written request: (1) On all claims, the date and description of occurrence, and the t…