(1)
Any foreign or alien insurer shall, upon the written request of
the commissioner, submit to the commissioner an RBC report as of
the end of the calendar year just ended by the later of:
(a) The date an RBC report would be required to be filed by
a domestic insurer under RCW 48.05.435; or
(b) Fifteen days after the request is received by the
foreign or alien insurer. Any foreign or alien insurer shall, at
the written request of the commissioner, promptly submit to the
commissioner a copy of any RBC plan that is filed with the
insurance commissioner of any other state.
(2) In the event of a company action level event, regulatory
action level event, or authorized control level event with
respect to any foreign or alien insurer as determined under the
RBC statute applicable in the state of domicile of the insurer
or, if no RBC statute is in force in that state, under the
provisions of RCW 48.05.430 through *48.05.490, if the insurance
commissioner of the state of domicile of the foreign or alien
insurer fails to require the foreign or alien insurer to file an
RBC plan in the manner specified under that state's RBC statute,
the commissioner may require the foreign or alien insurer to file
an RBC plan. In this event, the failure of the foreign or alien
insurer to file an RBC plan is grounds to order the insurer to
cease and desist from writing new insurance business in this
state.
(3) In the event of a mandatory control level event with
respect to any foreign or alien insurer, if no domiciliary
receiver has been appointed with respect to the foreign or alien
insurer under the rehabilitation and liquidation statute
applicable in the state of domicile of the foreign or alien
insurer, the commissioner may apply for an order under RCW 48.31.080 or 48.31.090 to conserve the assets within this state
of foreign or alien insurers, and the occurrence of the mandatory
control level event is considered adequate grounds for the
application.
[1995 c 83 § 10.]
NOTES:
*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.