Regulation .02 Filing a Temporary Moratorium Protocol.
Regulation .02 Filing a Temporary Moratorium Protocol.LinkCopy Citation
A.
An insurer that intends to activate a temporary moratorium in response to an event or emergency listed in Regulation .03C of this chapter shall file its moratorium protocol with the Administration.
B.
The moratorium protocol shall:
(1)
Be filed with the Commissioner as an underwriting standard or as a rating rule prior to its use;
(2)
Be filed for all lines of insurance business to which the underwriting standard or rating rule applies;
(3)
Identify the events or emergencies listed in Regulation .03C of this chapter that will trigger the activation of the temporary moratorium; and
(4)
Identify the events that will result in the deactivation of the temporary moratorium.
C.
If a moratorium protocol under §B of this regulation is not filed with the Administration, a temporary moratorium as described in §A of this regulation is not valid and may subject the insurer to appropriate administrative action.