Chapter 622, OWN RISK AND SOLVENCY ASSESSMENT
8 sections in this chapter.
Wis. Stat. § 622.03 Definitions
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622.03 Definitions. In this chapter, unless the context indicates otherwise: (1) “Guidance manual” means the most current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners as of January 1, …
Wis. Stat. § 622.05 Risk management framework
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622.05 Risk management framework. An insurer shall maintain a risk management framework to assist the insurer in identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement is satisfied if the insurer is a member of an insuranc…
Wis. Stat. § 622.07 Own risk and solvency assessment requirement
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622.07 Own risk and solvency assessment requirement. Subject to s. 622.11, an insurer, or the insurance holding company system of which the insurer is a member, shall regularly conduct an own risk and solvency assessment consistent with the process specified in the guidance manua…
Wis. Stat. § 622.09 Own risk and solvency assessment summary report
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622.09 Own risk and solvency assessment summary report. (1) FILING WITH THE COMMISSIONER. An insurer must file with the commissioner a summary report or any combination of reports that together contain the information described in the 622.11 622.13 622.15 622.17 Exemption. Conten…
Wis. Stat. § 622.11 Exemption
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622.11 Exemption. (1) EXEMPT INSURERS. An insurer is exempt from the requirements of this chapter, if all of the following apply: (a) The insurer has annual direct written premium and assumed premium from unaffiliated insurers, including international direct and assumed premium b…
Wis. Stat. § 622.13 Contents of summary report
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622.13 Contents of summary report. (1) PREPARATION. The summary report shall be prepared consistently with the guidance manual. Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner. (2) REVIEW. The co…
Wis. Stat. § 622.15 Confidentiality
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622.15 Confidentiality. (1) CONFIDENTIAL TREATMENT. Documents, materials, or other information, including summary reports, in the possession or control of the commissioner that are obtained by, created by, or disclosed to the commissioner or any other person under this chapter, a…
Wis. Stat. § 622.17 Penalty
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622.17 Penalty. Notwithstanding s. 601.64 (1) and (4), an insurer that is subject to this chapter that fails, without just cause, to timely file the summary report required under s. 622.09 is subject to the penalties under s. 601.64 (2) and (3). History: 2013 a. 279.