§ 27-4.6-7 - Hearings.
SECTION 27-4.6-7
§ 27-4.6-7 Hearings. – Upon:
(1) Notification to an insurer by the commissioner of anadjusted RBC report; or (2) notification to an insurer by the commissionerthat: (i) the insurer's RBC plan or revised RBC plan is unsatisfactory; and(ii) that notification constitutes a regulatory action level event with respectto the insurer; or (3) notification to any insurer by the commissioner that theinsurer has failed to adhere to its RBC plan or revised RBC plan and that thatfailure has a substantial adverse effect on the ability of the insurer toeliminate the company action level event with respect to the insurer inaccordance with its RBC plan or revised RBC plan; or (4) notification to aninsurer by the commissioner of a corrective order with respect to the insurer;the insurer shall have the right to a departmental hearing, on a record, atwhich the insurer may challenge any determination or action by thecommissioner. The insurer shall notify the commissioner of its request for ahearing within five (5) days after the notification by the commissioner undersubdivision (1), (2), (3) or (4). Upon receipt of the insurer's request for ahearing, the commissioner shall set a date for the hearing, which date shall bewithin a reasonable amount of time but no less than ten (10) days after thedate of the insurer's request.