North Dakota Administrative Code

Pursuant to subsection 2 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that was licensed in this state as of any date on which statutory financial statement credit for rein…

1. Pursuant to subsection 3 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that is accredited as a reinsurer in this state as of the date on which statutory financial statem…

1. Pursuant to subsection 4 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that as of any date on which statutory financial statement credit for reinsurance is claimed: a. I…

1. Pursuant to subsection 5 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that, as of any date on which statutory financial statement credit for reinsurance is claimed, and…

1. Pursuant to subsection 6 of North Dakota Century Code Section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that has been certified as a reinsurer in this state at all times for which statutory financial st…

1. Pursuant to subsection 7 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that is licensed to write reinsurance by, and has its head office or is domiciled in, a reciprocal…

Pursuant to subsection 7 of North Dakota Century Code section 26.1-31.2-01, the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of subsections 2, 3, 4, 5, and 6 of North Dakota Century Code section 26…

assuming insurer not meeting the requirements of sections 45-03-07.1-01 through 45-03-07.1-05. 1. Pursuant to North Dakota Century Code section 26.1-31.2-02, the commissioner shall allow a reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer…

1. As used in this section: a. "Beneficiary" means the entity for whose sole benefit the trust has been established and any successor of the beneficiary by operation of law. If a court of law appoints a successor in interest to the named beneficiary, then the named beneficiary in…

1. The letter of credit must be clean, irrevocable, unconditional, and issued or confirmed by a qualified United States financial institution as defined in subsection 1 of North Dakota Century Code section 26.1-31.2-03. The letter of credit must contain an issue date and expirati…

18 arrangement" means a foreign or alien statutory or regulatory compromise procedure subject to requisite majority creditor approval and judicial sanction in the assuming insurer's home jurisdiction either to finally commute liabilities of duly noticed classed members or credito…

Credit will not be granted, nor an asset or reduction from liability allowed, to a ceding insurer for reinsurance effected with assuming insurers meeting the requirements of section 45-03-07.1-01, 45-03-07.1-02, 45-03-07.1-03, 45-03-07.1-04, 45-03-07.1-04.1, 45-03-07.1-05, or 45-…

All new and renewal reinsurance transactions entered into after October 1, 1995, must conform to the requirements of the Act and this chapter if credit is to be given to the ceding insurer for such reinsurance. History: Effective October 1, 1995. General Authority: NDCC 26.1-31.2…

This chapter applies to all domestic life and accident and health insurers and to all other licensed life and accident and health insurers that are not subject to a substantially similar rule in their domiciliary state. This chapter applies to licensed property and casualty insur…

1. An insurer subject to this chapter, for reinsurance ceded, does not reduce any liability or establish any asset in any financial statement filed with the insurance department if, by the terms of the reinsurance agreement, in substance or effect, any of the following conditions…

1. A reinsurance agreement or amendment to any agreement may not be used to reduce any liability or to establish any asset in any financial statement filed with the department, unless the agreement, amendment, or a binding letter of intent has been duly executed by both parties n…

Insurers subject to this chapter shall reduce to zero by December 31, 1995, any reserve credits or assets established with respect to reinsurance agreements entered into prior to October 1, 1995, which, under this chapter would not be entitled to recognition of the reserve credit…

An insurer may provide a refund of premium for life insurance policies, guaranteed renewable accident and health policies and crop/hail policies; however, such refund is not required and policy forms permitting no refund may be approved by the insurance department. History: Effec…

The term "policy form" as used in subsection 3 of North Dakota Century Code section 26.1-24-03 includes manual rates, rating plans, and rating rules filed and approved under North Dakota Century Code section 26.1-25-04. Such rates, plans, and rules may constitute the basis for an…

Premiums on all other policies are refundable in accordance with subsection 3 of North Dakota Century Code section 26.1-24-03 and the policy form filed with the insurance department. History: Effective October 1, 1984. General Authority: NDCC 28-32-02 Law Implemented: NDCC 26.1-2…

In determining whether a foreign insurance company should be permitted to transact business in this state, and specifically in applying North Dakota Century Code section 26.1-02-02 and subsection 2 of section 26.1-11-01, the commissioner of insurance may require any foreign insur…

The purpose of this rule is to eliminate the act of denying benefits or coverage on the basis of sex or marital status in the terms and conditions of insurance contracts and in the underwriting criteria of insurance carriers. History: Effective July 1, 1988. General Authority: ND…

1. "Contracts" means any insurance policy, certificate, plan, or binder, including any rider or endorsement thereto offered by an insurer. 2. "Insurer" means any insurance company, association, reciprocal or interinsurance exchange, nonprofit hospital plan, nonprofit professional…

This rule applies to all contracts delivered or issued for delivery in this state or renewed by the payment of premium or otherwise by an insurer on or after July 1, 1988, and to all existing group contracts which are substantially amended on or after July 1, 1988. History: Effec…

Availability of any insurance contract may not be denied to an insured or prospective insured on the basis of sex or marital status of the insured or prospective insured. The amount of benefits payable, or any term, conditions, or type of coverage may not be restricted, modified,…

1. "Informed consent form" means a printed document on which an individual may signify that individual's informed consent for testing for the presence of an antibody to the human immunodeficiency virus or authorize the disclosure of any test results obtained. 2. "Informed consent…

Any insurance company, health maintenance organization, fraternal benefit society, benevolent society, or nonprofit health service corporation conducting business in this state which requests its applicants for insurance coverage to provide a body fluid sample for the purpose of …

Any insurance company, health maintenance organization, fraternal benefit society, benevolent society, or nonprofit health service corporation which subjects an applicant for insurance coverage to a test for the presence of an antibody or antigen to the human immunodeficiency vir…

The form prescribed in section 45-03-11-03 is not in lieu of any legal requirements applicable to persons drawing or testing blood for human immunodeficiency virus to obtain informed consent for testing or disclosure. History: Effective July 1, 1990. General Authority: NDCC 28-32…

If the results of testing subject to this chapter are other than normal, the insurer shall notify the North Dakota state department of health. The written notification must indicate the specific nature of the abnormal test results and must also indicate all persons to whom the te…

In the reasonable exercising of the commissioner's discretion, additional capital and surplus may be required based upon the type, volume, and nature of insurance business transacted. History: Effective January 1, 1992. General Authority: NDCC 28-32-02 Law Implemented: NDCC 26.1-…

All companies doing business in the state shall have an investment portfolio which is diversified as to type and issue and which maintains liquidity. History: Effective January 1, 1992. General Authority: NDCC 28-32-02 Law Implemented: NDCC 26.1-02-02, 26.1-05-19, 26.1-06.1-01, 2…

Repealed effective December 1, 2001.

transactions. An insurer may enter into a securities lending, repurchase, reverse repurchase, and dollar roll transaction with business entities, subject to the following requirements: 1. The insurer's board of directors shall adopt a written plan for engaging in investment pract…

An investment is deemed to be authorized by an insurer's board of directors prior to its acquisition if the investment is acquired and held subject to the following requirements: 1. The board of directors shall adopt a written plan for acquiring and holding investments and for en…

The following standards, either singly or a combination of two or more, may be considered by the commissioner to determine whether the continued operation of any insurer transacting an insurance business in this state might be deemed to be hazardous to the policyholders, creditor…

1. For the purposes of making a determination of an insurer's financial condition under this chapter, the commissioner may: a. Disregard any credit or amount receivable resulting from transactions with a reinsurer which is insolvent, impaired, or otherwise subject to a delinquenc…

As used in this chapter: 1. "Consent" means agreement to administrative supervision by the insurer. 2. "Exceeded its powers" means the following conditions: a. The insurer has refused to permit examination of its books, papers, accounts, records, or affairs by the commissioner, c…

The provisions of this chapter apply to: 1. All domestic insurers. 2. Any other insurer doing business in this state whose state of domicile has asked the commissioner to apply the provisions of this chapter as regards such insurer. History: Effective January 1, 1992. General Aut…

Administrative supervision. 1. An insurer may be subject to administrative supervision by the commissioner if upon examination or at any other time it appears in the commissioner's discretion that: a. The insurer's condition renders the continuance of its business hazardous to th…

1. Notwithstanding any other provision of law and except as set forth herein; proceedings, hearings, notices, correspondence, reports, records, and other information in the possession of the commissioner or the department relating to the supervision of any insurer are confidentia…

During the period of supervision, the commissioner or the commissioner's designated appointee shall serve as the administrative supervisor. The commissioner may provide that the insurer may not do any of the following things during the period of supervision, without the prior app…

During the period of supervision the insurer may contest an action taken or proposed to be taken by the supervisor specifying the manner wherein the action being complained of would not result in improving the condition of the insurer. Denial of the insurer's request upon reconsi…

Nothing contained in this chapter precludes the commissioner from initiating judicial proceedings to place an insurer in conservation, rehabilitation, or liquidation proceedings or other delinquency proceedings, however designated under the laws of this state, regardless of wheth…

supervisor. Notwithstanding any other provision of law, the commissioner may meet with a supervisor appointed under this chapter and with the attorney or other representative of the supervisor, without the presence of any other person, at the time of any proceeding or during the …

There is no liability on the part of, and no cause of action of any nature may arise against, the insurance commissioner or the department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. 4 History: Effectiv…

Every insurance company doing business in this state shall file with the commissioner, pursuant to North Dakota Century Code section 26.1-03-07, the appropriate national association of insurance commissioners annual statement blank, prepared in accordance with the national associ…

Every insurance company licensed to do business in this state shall transmit to the commissioner and to the national association of insurance commissioners its most recent financial statements compiled on a quarterly basis, within forty-five days following the calendar quarters e…

Every insurance company operating in more than one state shall file all annual and quarterly statements with the national association of insurance commissioners, through media acceptable to the commissioner, unless the commissioner makes a specific finding that an insurer, or typ…

The filing of annual and quarterly statements with the national association of insurance commissioners and every insurance company subject to the requirements of section 45-03-15-03 shall use the national association of insurance commissioners internet filing website in making th…