Wis. Admin. Code Office of the Commissioner of Insurance § Ins 50.55 - Examination of foreign and alien insurers
(1) The
commissioner may accept, under s.
Ins 50.50, an
examination report on a licensed foreign or alien insurer which is prepared by
the insurance department for the insurer's state of domicile until December 31,
1993. After December 31, 1993, an examination report from the insurance
department of the insurer's state of domicile may only be accepted if:
(a) The insurance department is at the time
of the examination accredited under the National Association of Insurance
Commissioners' Financial Regulation Standards and Accreditation Program;
or
(b) The examination is performed
under the supervision of an accredited insurance department or with the
participation of one or more examiners who are employed by an accredited state
insurance department and who, after a review of the examination work papers and
report, state under oath that the examination was performed in a manner
consistent with the standards and procedures required by their insurance
department.
(2) A
foreign or alien insurer shall file written notice with the commissioner if it
has not received an examination call for an examination which will be
acceptable under this section for the determination of the financial condition
of the insurer within 4 years after the date for which the last examination of
the insurer examined the financial condition of the insurer.
Notes
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