Certain loans and contract for deed maximum interest rate modification provision, group capital calculations for insurers establishments, Insurers completion of NAIC liquidity stress test requirement provision, and insurers filing group capital calculations and results from the NAIC liquidity stress test requirement provision, and insurers securing a deposit or bond requirement provision
What changed between versions
Requires insurers to file annual group capital calculations and NAIC liquidity stress test results with the state insurance commissioner.
Updates filing requirements for acquiring control of an insurer to include preacquisition notifications and waiting periods, with enhanced confidentiality protections.
Mandates that insurers secure a deposit or bond if the commissioner determines the insurer is in hazardous financial condition.
Adds new statutory definitions for 'group capital calculation instructions,' 'NAIC,' and 'NAIC liquidity stress test framework.'
Expands the authority for domestic insurers to invest in their own subsidiaries by allowing investments up to 10% of assets or 50% of surplus, provided policyholder surplus remains adequate.
Establishes that violations preventing a full understanding of enterprise risk can serve as an independent basis for placing an insurer under supervision.