Exemptions from application of article

The director may exempt from the application of this article: (1) a domestic property and casualty insurer that: (a) writes direct business only in this State; (b) writes direct annual written premiums of two million dollars or less; and (c) assumes no reinsurance in excess of five percent of its direct written premium; and (2) a domestic health organization that: (a) writes direct business only in this State; (b) assumes no reinsurance in excess of five percent of direct premium written; and (c) writes direct annual premiums of one million dollars or less.