D.C. Mun. Regs. tit. 26, r. 26-A4699
Current through Register 71, No. 45, November 7, 2024
Rule 26-A4699 - DEFINITIONS4699.1"Act" - shall mean the Hospital and Medical Services Corporation Regulatory Act of 1996, effective April 9, 1997 (D.C. Law11-245; D.C. Official Code § 31-3501et seq. (2001)).
4699.2"Attributable to the District"- shall mean the process used by the Commissioner to allocate the portion of the surplus of a hospital and medical services corporation that is derived from the company's operations in the District of Columbia based on the following factors:
(a) The number of policies by geographic area;(b) The number of health care providers under contract with the company by geographic area; and(c) Any other factor that the Commissioner deems to be relevant based on the record of a public hearing held pursuant to section 4602.4699.3"Department" - District of Columbia Department of Insurance, Securities and Banking.
4699.4"Unreasonably large surplus" - shall mean a surplus of a corporation that is greater than the sum of the following:
(a) The appropriate NAIC risk-based capital level requirements determined by the Commissioner and the Blue Cross/Blue Shield Association capital requirements based on the company's surplus from the immediately preceding year; and(b) The amount of surplus needed by the corporation to meet its expected and unanticipated contingencies.D.C. Mun. Regs. tit. 26, r. 26-A4699
Notice of Final Rulemaking published at 56 DCR 8841 (November 13, 2009)Authority: Section 4 of the Department of Insurance, Securities Regulation Establishment Act of 1996, effective May 21, 1997 (D.C. Law 11-268; D.C. Official Code § 31-103(a)(1) (2001), and section 21 of the Hospital and Medical Services Corporation Regulatory Act of 1996, effective April 9, 1997 (D.C. Law11-245; D.C. Official Code § 31-3520 (2001), and section 2(j) of the Medical Insurance Empowerment Amendment Act of 2008 (MIEAA), effective March 25, 2009 (D.C. Law 17-0369, 56 DCR 1346; D.C. Official Code § 31-3524 ).