Wis. Admin. Code Office of the Commissioner of Insurance § Ins 51.50 - Hearings

Current through March 28, 2022

(1) An insurer shall have the right to a hearing, on a record, at which the insurer may challenge any determination or action by the commissioner under this subchapter upon any of the following:
(a) Notification to an insurer by the commissioner of an adjusted risk based capital report.
(b) Notification to an insurer by the commissioner of all of the following:
1. The insurer's risk based capital plan or revised risk based capital plan is unsatisfactory.
2. Such notification constitutes a regulatory action level event with respect to such insurer.
(c) Notification to any insurer by the commissioner that the insurer has failed to adhere to its risk based capital plan or revised risk based capital plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its risk based capital plan or revised risk based capital plan.
(d) Notification to an insurer by the commissioner of a corrective order with respect to the insurer under this subchapter.
(2) The procedures established under ss. 601.62, 601.63, and 645.21, Stats., apply to an order, determination or hearing under this chapter.
(3) This section does not apply to an action by the commissioner based on ch. 645, Stats., subch. II or any other provision of the statutes or rules other than this subchapter. An insurer's right to a hearing, if any, is solely governed by those provisions and not this section.

Notes

Wis. Admin. Code Office of the Commissioner of Insurance § Ins 51.50
Cr. Register, December, 1996, No. 492, eff. 1-1-97.

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