OAR 836-011-0340
Authorized Control Level Event


(1)

“Authorized control level event” means any of the following events:

(a)

The filing of an RBC report by the insurer indicating that the insurer’s total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;

(b)

Notification by the Director to the insurer of an adjusted RBC report indicating the event in subsection (a) of this section, if the insurer does not challenge the adjusted RBC report under OAR 836-011-0360 (Hearings);

(c)

If, pursuant to OAR 836-011-0360 (Hearings), the insurer challenges an adjusted RBC report that indicates the event in subsection (a) of this section, notification by the Director to the insurer that the Director has, after a hearing, rejected the insurer’s challenge;

(d)

The failure of the insurer to respond to a corrective order, in a manner satisfactory to the Director, if the insurer has not challenged the corrective order under OAR 836-011-0360 (Hearings); or

(e)

If the insurer has challenged a corrective order under OAR 836-011-0360 (Hearings) and the Director has, after a hearing, rejected the challenge or modified the corrective order, the failure of the insurer to respond to the corrective order in a manner satisfactory to the Director subsequent to rejection or modification by the Director.

(2)

In the event of an authorized control level event with respect to an insurer, the Director shall:

(a)

Take such actions as are required under OAR 836-011-0330 (Regulatory Action Level Event) regarding an insurer with respect to which an regulatory action level event has occurred; or

(b)

If the Director determines it to be in the best interests of the policyholders and creditors of the insurer and of the public, take actions necessary to cause the insurer to be placed under regulatory control under ORS 734.059 (Request for court order) to 734.440 (Judgment upon assessment). If the Director takes such actions, the authorized control level event is sufficient grounds for the Director to take action under 734.150 (Grounds for rehabilitation of domestic insurers)(1) or (4) or 734.170 (Grounds for liquidation of domestic insurers), and the Director shall have the rights, powers and duties with respect to the insurer as are set forth in 734.059 (Request for court order) to 734.440 (Judgment upon assessment).

Source: Rule 836-011-0340 — Authorized Control Level Event, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-011-0340.

836–011–0000
Annual Statement Blank and Instructions
836–011–0015
Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation
836–011–0020
Definitions
836–011–0022
Filing Procedures
836–011–0024
Contents of Corporate Governance Annual Disclosure
836–011–0030
Own Risk and Solvency Assessment
836–011–0050
Requirements for Segregation of Premium Received for Coverage Not Eligible for Federal Subsidies
836–011–0100
Authority
836–011–0110
Definitions
836–011–0120
Filing and Extensions for Filing of Annual Audited Financial Reports
836–011–0130
Exemptions
836–011–0140
Contents of Annual Audited Financial Report
836–011–0150
Designation of Independent Certified Public Accountant
836–011–0160
Qualifications of Independent Certified Public Accountant
836–011–0170
Consolidated or Combined Audits
836–011–0180
Scope of Audit and Report of Independent Certified Public Accountant
836–011–0190
Notification of Adverse Financial Condition
836–011–0200
Communication of Internal Control Related Matters Noted in an Audit
836–011–0210
Accountant’s Letter of Qualifications
836–011–0220
Definition, Availability and Maintenance of Independent Certified Public Accountants Workpapers
836–011–0223
Requirements for Audit Committee
836–011–0224
Internal Audit Function Requirements
836–011–0225
Conduct of Insurer in Connection with the Preparation of Required Reports and Documents
836–011–0227
Management’s Report of Internal Control over Financial Reporting
836–011–0230
Canadian and British Companies
836–011–0235
Effective Dates
836–011–0250
Authority
836–011–0253
Definitions
836–011–0255
Reserve Adequacy
836–011–0258
Unallocated Reserve Account
836–011–0260
Distribution of Annual Financial Statement
836–011–0300
Statutory Authority
836–011–0305
Definitions
836–011–0310
RBC Reports
836–011–0320
Company Action Level Event
836–011–0330
Regulatory Action Level Event
836–011–0340
Authorized Control Level Event
836–011–0350
Mandatory Control Level Event
836–011–0360
Hearings
836–011–0380
Supplemental Provisions
836–011–0390
Foreign Insurers
836–011–0430
Scope and Authority
836–011–0440
Report
836–011–0450
Acquisitions and Dispositions of Assets
836–011–0460
Nonrenewals, Cancellations or Revisions of Ceded Reinsurance Agreements
836–011–0500
Application
836–011–0505
Definitions
836–011–0510
RBC Reports
836–011–0515
Company Action Level Event
836–011–0520
Regulatory Action Level Event
836–011–0525
Authorized Control Level Event
836–011–0530
Mandatory Control Level Event
836–011–0535
Hearings
836–011–0540
Supplemental Provisions
836–011–0545
Foreign Health Care Service Contractors
836–011–0600
Report on Services Provided by Expanded Practice Dental Hygienists
Last Updated

Jun. 8, 2021

Rule 836-011-0340’s source at or​.us