Title 31 — Insurance and Securities.

No person shall, directly or indirectly, act as a public insurance adjuster without first procuring a license from the Commissioner to act as a public insurance adjuster.

(a) The Commissioner shall issue a license to an applicant for a public insurance adjuster’s license who: (1) Has paid the applicable fee established by the Commissioner by rule; (2) Passes a written examination for which a fee may be charged; and (3) Has sufficient experience, t…

(a) At the time of the application for license as a public insurance adjuster, the applicant shall file with the Commissioner a bond executed and issued by a surety insurer authorized to transact business in the District in the amount of $20,000, which bond shall serve the faithf…

(a) A public insurance adjuster shall maintain a complete record of each transaction as a public insurance adjuster. The records required by this section shall include the: (1) Name of the insured; (2) Date, location, and amount of the loss; (3) Copy of the contract between the p…

(a) The Commissioner may deny a license to an applicant or suspend, revoke, or refuse to renew a license if the applicant or licensee: (1) Violates the provisions of this chapter or any standard of conduct prescribed by the Commissioner in regulations; (2) Makes a material missta…

(a) No licensee shall, directly or indirectly, act within the District as a public insurance adjuster without having first entered into a contract, in writing, on a form approved by the Commissioner and executed in duplicate by the public insurance adjuster and the insured or a d…

A public insurance adjuster shall adjust or investigate every claim, damage, or loss made or occurring under an insurance contract for which the public insurance adjuster has been employed in accordance with the terms and conditions of his or her contract with the insured and the…

The Commissioner shall promulgate rules and regulations as are necessary to carry out this chapter.

[Repealed or reserved.]

This chapter shall not apply to: (1) An adjuster for or an agent or employee of an insurer or group of insurers under common control or ownership that, as a representative of the insurer or group, adjusts losses or damages under policies issued by the insurer or group; (2) A brok…

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) “Redomestication” means the transfer to the District the corporate domicile of an auth…

Any insurer which is organized under laws of any state and is admitted to do business in the District for the purpose of writing insurance may become a domestic insurer by complying with all of the requirements of law relative to the organization and licensing of a domestic insur…

Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer and shall be admitted to the District, if qualified, as…

(a) The certificate of authority, agent appointments and licenses, rates, and other items which the Commissioner allows, in his or her discretion, which are in existence at the time any insurer licensed to transact the business of insurance in the District transfers its corporate…

The Mayor, pursuant to subchapter I of Chapter 5 of Title 2, may issue rules and regulations to carry out the purpose of this chapter.

For the purposes of this chapter, the term: (1) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries. (2) “Controlling person” means any person, firm, association, or corporation who directly or indirectly has the power to direct, or caus…

(a) No person, firm, association, or corporation shall act as a reinsurance broker in the District if the reinsurance broker maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation: (1) In the …

Transactions between a reinsurance broker and the insurer it represents shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that: (1) The insurer may terminate the reinsuranc…

(a) For at least 10 years after expiration of each contract of reinsurance transacted by the reinsurance broker, the reinsurance broker will keep a complete record for each transaction showing: (1) The type of contract, limits, underwriting restrictions, classes, or risks and ter…

(a) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance broker on its behalf unless the person is licensed as required by § 31-1802(a). (b) An insurer may not employ an individual who is employed by a reinsurance broke…

Transactions between a reinsurance manager and the reinsurer it represents shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer’s board of directors. At least 30 days before a reinsurer …

The reinsurance manager shall not: (1) Cede retrocessions on behalf of the reinsurer, except that the reinsurance manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelin…

(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…