2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 521E - RISK=BASED CAPITAL REQUIREMENTS FOR INSURERS
521E.2 - RISK-BASED CAPITAL REPORTS.

        521E.2  RISK-BASED CAPITAL REPORTS.
         1.  A domestic insurer, on or prior to the filing date, shall
      prepare and submit to the commissioner a report of the insurer's
      risk-based capital level as of the end of the calendar year
      immediately preceding the filing date, in a form and containing the
      information required by the risk-based capital instructions.  A
      domestic insurer shall also file its risk-based capital report with
      both of the following:
         a.  The national association of insurance commissioners.
         b.  The insurance commissioner in each state in which the
      insurer is authorized to do business, if such insurance commissioner
      has notified the insurer of its request in writing.  Upon receipt of
      the written request, the insurer shall file its risk-based capital
      report with the requesting commissioner by no later than the later of
      the following:
         (1)  Fifteen days from the receipt of the written request.
         (2)  The filing date.
         2.  A life and health insurer's risk-based capital shall be
      determined pursuant to the formula set forth in the risk-based
      capital instructions.  The formula shall take into account all of the
      following, and may be adjusted, as deemed appropriate by the
      commissioner, for the covariance between the following:
         a.  The risk with respect to the insurer's assets.
         b.  The risk of adverse insurance experience with respect to
      the insurer's liabilities and obligations.
         c.  The interest rate risk with respect to the insurer's
      business.
         d.  All other business risks and other relevant risks as
      identified in the risk-based capital instructions, determined in each
      case by applying the factors in the manner provided for in the
      risk-based capital instructions.
         3.  A property and casualty insurer's risk-based capital shall be
      determined pursuant to the formula set forth in the risk-based
      capital instructions.  The formula shall take into account all of the
      following, and may be adjusted, as deemed appropriate by the
      commissioner, for the covariance between the following:
         a.  Asset risk.
         b.  Credit risk.
         c.  Underwriting risk.
         d.  All other business risks and other relevant risks as
      identified in the risk-based capital instructions, determined in each
      case by applying the factors in the manner provided for in the
      risk-based capital instructions.
         4.  An insurer shall seek to maintain capital above the risk-based
      capital levels required by this chapter.
         5.  A risk-based capital report filed by a domestic insurer which
      in the judgment of the commissioner is inaccurate, shall be adjusted
      by the commissioner to correct the inaccuracy.  The commissioner
      shall notify the insurer of the adjustment.  The notice shall contain
      a statement of the reason for the adjustment.  

         96 Acts, ch 1046, §10
         Referred to in § 521E.1, 521E.10