CHAPTER 26.1-10.1ASSET AND AGREEMENT REPORTS26.1-10.1-01. Report.1.Every insurer domiciled in this state shall file a report with the commissioner<br>disclosing material acquisitions and dispositions of assets or material nonrenewals,<br>cancellations, or revisions of ceded reinsurance agreements or material new ceded<br>reinsurance agreements unless the acquisitions and dispositions of assets or<br>material nonrenewals, cancellations, or revisions of ceded reinsurance agreements<br>or material new ceded reinsurance agreements have been submitted to the<br>commissioner for review, approval, or information purposes pursuant to other<br>provisions of the insurance code, laws, rules, or other requirements.2.The report required in subsection 1 is due within fifteen days after the end of the<br>calendar month in which any of the foregoing transactions occur.3.One complete copy of the report, including any exhibits or other attachments, must<br>be filed with:a.The insurance department of the insurer's state of domicile; andb.The national association of insurance commissioners.4.All reports obtained by or disclosed to the commissioner under this chapter must be<br>given confidential treatment and are not subject to subpoena and must not be made<br>public by the commissioner, the national association of insurance commissioners, or<br>any other person, except to insurance departments of other states, without the prior<br>written consent of the insurer to which it pertains unless the commissioner, after<br>giving the insurer who would be affected notice and an opportunity to be heard,<br>determines that the interest of policyholders, shareholders, or the public will be<br>served by publication, in which event the commissioner may publish all or any part in<br>the manner the commissioner deems appropriate.26.1-10.1-02. Acquisitions and dispositions of assets.1.Materiality.Acquisitions or dispositions of assets need not be reported undersection 26.1-10.1-01 if the acquisitions or dispositions are not material.Forpurposes of this chapter, a material acquisition, or the aggregate of any series of<br>related acquisitions during any thirty-day period, or disposition, or the aggregate of<br>any series of related dispositions during any thirty-day period, is one that is<br>nonrecurring and not in the ordinary course of business and involves more than five<br>percent of the reporting insurer's total admitted assets as reported in its most recent<br>statutory statement filed with the insurance department of the insurer's state of<br>domicile.2.Scope.a.Asset acquisitions subject to this chapter include every purchase, lease,<br>exchange, merger, consolidation, succession, or other acquisition other than<br>the construction or development of real property by or for the reporting insurer<br>or the acquisition of materials for this purpose.b.Asset dispositions subject to this chapter include every sale, lease, exchange,<br>merger, consolidation, mortgage, hypothecation, assignment whether for the<br>benefit of creditors or otherwise, abandonment, destruction, or other<br>disposition.Page No. 13.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>acquisition or disposition of assets:(1)Date of the transaction;(2)Manner of acquisition or disposition;(3)Description of the assets involved;(4)Nature and amount of the consideration given or received;(5)Purpose of, or reason for, the transaction;(6)Manner by which the amount of consideration was determined;(7)Gain or loss recognized or realized as a result of the transaction; and(8)Names of the persons from whom the assets were acquired or to whom<br>they were disposed.b.Insurers are required to report material acquisitions and dispositions on a<br>nonconsolidated basis unless the insurer is part of a consolidated group of<br>insurers that utilizes a pooling arrangement or one hundred percent<br>reinsurance agreement that affects the solvency and integrity of the insurer's<br>reserves and the insurer ceded substantially all of its direct and assumed<br>business to the pool. An insurer is deemed to have ceded substantially all of its<br>direct and assumed business to a pool if the insurer has less than one million<br>dollars total direct plus assumed written premiums during a calendar year that<br>are not subject to a pooling arrangement and the net income of the business<br>not subject to the pooling arrangement represents less than five percent of the<br>insurer's capital and surplus.26.1-10.1-03.Nonrenewals, cancellations, or revisions of ceded reinsuranceagreements.1.Materiality and scope.a.Nonrenewals, cancellations, or revisions of ceded reinsurance agreements or<br>new ceded reinsurance agreements need not be reported under section<br>26.1-10.1-01 if the nonrenewals, cancellations, or revisions of ceded<br>reinsurance agreements or new ceded reinsurance agreements are not<br>material. For purposes of this chapter, a material nonrenewal, cancellation, or<br>revision of a ceded reinsurance agreement or a material new ceded<br>reinsurance agreement is one that affects:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer:(a)More than fifty percent of the insurer's total ceded written premium;<br>or(b)More than fifty percent of the insurer's total ceded indemnity and<br>loss adjustment reserves.(2)As respects life, annuity, and accident and health business, more than<br>fifty percent of the total reserve credit taken for business ceded, on anPage No. 2annualized basis, as indicated in the insurer's most recent annual<br>statement.(3)As respects either property and casualty or life, annuity, and accident and<br>health business, either of the following events constitutes a material<br>revision that must be reported:(a)An authorized reinsurer representing more than ten percent of a<br>total cession is replaced by one or more unauthorized reinsurers;<br>or(b)Previously established collateral requirements have been reduced<br>or waived as respects one or more unauthorized reinsurers<br>representing collectively more than ten percent of a total cession.b.However, filing is not required if:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer, the insurer's<br>total ceded written premium represents, on an annualized basis, less<br>than ten percent of its total written premium for direct and assumed<br>business; or(2)As respects life, annuity, and accident and health business, the total<br>reserve credit taken for business ceded represents, on an annualized<br>basis, less than ten percent of the statutory reserve requirement prior to<br>any cession.2.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>nonrenewal, cancellation, or revision of ceded reinsurance agreements or<br>material new ceded reinsurance agreements:(1)Effective date of the nonrenewal, cancellation, revision, or new<br>agreement;(2)The description of the transaction with an identification of the initiator of<br>the transaction;(3)Purpose of, or reason for, the transaction; and(4)If applicable, the identity of the replacement reinsurers.b.Insurers are required to report all material nonrenewals, cancellations, or<br>revisions of ceded reinsurance agreements or material new ceded reinsurance<br>agreements on a nonconsolidated basis unless the insurer is part of a<br>consolidated group of insurers that utilizes a pooling arrangement or one<br>hundred percent reinsurance agreement that affects the solvency and integrity<br>of the insurer's reserves and the insurer ceded substantially all of its direct and<br>assumed business to the pool.An insurer is deemed to have cededsubstantially all of its direct and assumed business to a pool if the insurer has<br>less than one million dollars total direct plus assumed written premiums during<br>a calendar year which are not subject to a pooling arrangement and the net<br>income of the business not subject to the pooling arrangement represents less<br>than five percent of the insurer's capital and surplus.Page No. 3Document Outlinechapter 26.1-10.1 asset and agreement reports
CHAPTER 26.1-10.1ASSET AND AGREEMENT REPORTS26.1-10.1-01. Report.1.Every insurer domiciled in this state shall file a report with the commissioner<br>disclosing material acquisitions and dispositions of assets or material nonrenewals,<br>cancellations, or revisions of ceded reinsurance agreements or material new ceded<br>reinsurance agreements unless the acquisitions and dispositions of assets or<br>material nonrenewals, cancellations, or revisions of ceded reinsurance agreements<br>or material new ceded reinsurance agreements have been submitted to the<br>commissioner for review, approval, or information purposes pursuant to other<br>provisions of the insurance code, laws, rules, or other requirements.2.The report required in subsection 1 is due within fifteen days after the end of the<br>calendar month in which any of the foregoing transactions occur.3.One complete copy of the report, including any exhibits or other attachments, must<br>be filed with:a.The insurance department of the insurer's state of domicile; andb.The national association of insurance commissioners.4.All reports obtained by or disclosed to the commissioner under this chapter must be<br>given confidential treatment and are not subject to subpoena and must not be made<br>public by the commissioner, the national association of insurance commissioners, or<br>any other person, except to insurance departments of other states, without the prior<br>written consent of the insurer to which it pertains unless the commissioner, after<br>giving the insurer who would be affected notice and an opportunity to be heard,<br>determines that the interest of policyholders, shareholders, or the public will be<br>served by publication, in which event the commissioner may publish all or any part in<br>the manner the commissioner deems appropriate.26.1-10.1-02. Acquisitions and dispositions of assets.1.Materiality.Acquisitions or dispositions of assets need not be reported undersection 26.1-10.1-01 if the acquisitions or dispositions are not material.Forpurposes of this chapter, a material acquisition, or the aggregate of any series of<br>related acquisitions during any thirty-day period, or disposition, or the aggregate of<br>any series of related dispositions during any thirty-day period, is one that is<br>nonrecurring and not in the ordinary course of business and involves more than five<br>percent of the reporting insurer's total admitted assets as reported in its most recent<br>statutory statement filed with the insurance department of the insurer's state of<br>domicile.2.Scope.a.Asset acquisitions subject to this chapter include every purchase, lease,<br>exchange, merger, consolidation, succession, or other acquisition other than<br>the construction or development of real property by or for the reporting insurer<br>or the acquisition of materials for this purpose.b.Asset dispositions subject to this chapter include every sale, lease, exchange,<br>merger, consolidation, mortgage, hypothecation, assignment whether for the<br>benefit of creditors or otherwise, abandonment, destruction, or other<br>disposition.Page No. 13.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>acquisition or disposition of assets:(1)Date of the transaction;(2)Manner of acquisition or disposition;(3)Description of the assets involved;(4)Nature and amount of the consideration given or received;(5)Purpose of, or reason for, the transaction;(6)Manner by which the amount of consideration was determined;(7)Gain or loss recognized or realized as a result of the transaction; and(8)Names of the persons from whom the assets were acquired or to whom<br>they were disposed.b.Insurers are required to report material acquisitions and dispositions on a<br>nonconsolidated basis unless the insurer is part of a consolidated group of<br>insurers that utilizes a pooling arrangement or one hundred percent<br>reinsurance agreement that affects the solvency and integrity of the insurer's<br>reserves and the insurer ceded substantially all of its direct and assumed<br>business to the pool. An insurer is deemed to have ceded substantially all of its<br>direct and assumed business to a pool if the insurer has less than one million<br>dollars total direct plus assumed written premiums during a calendar year that<br>are not subject to a pooling arrangement and the net income of the business<br>not subject to the pooling arrangement represents less than five percent of the<br>insurer's capital and surplus.26.1-10.1-03.Nonrenewals, cancellations, or revisions of ceded reinsuranceagreements.1.Materiality and scope.a.Nonrenewals, cancellations, or revisions of ceded reinsurance agreements or<br>new ceded reinsurance agreements need not be reported under section<br>26.1-10.1-01 if the nonrenewals, cancellations, or revisions of ceded<br>reinsurance agreements or new ceded reinsurance agreements are not<br>material. For purposes of this chapter, a material nonrenewal, cancellation, or<br>revision of a ceded reinsurance agreement or a material new ceded<br>reinsurance agreement is one that affects:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer:(a)More than fifty percent of the insurer's total ceded written premium;<br>or(b)More than fifty percent of the insurer's total ceded indemnity and<br>loss adjustment reserves.(2)As respects life, annuity, and accident and health business, more than<br>fifty percent of the total reserve credit taken for business ceded, on anPage No. 2annualized basis, as indicated in the insurer's most recent annual<br>statement.(3)As respects either property and casualty or life, annuity, and accident and<br>health business, either of the following events constitutes a material<br>revision that must be reported:(a)An authorized reinsurer representing more than ten percent of a<br>total cession is replaced by one or more unauthorized reinsurers;<br>or(b)Previously established collateral requirements have been reduced<br>or waived as respects one or more unauthorized reinsurers<br>representing collectively more than ten percent of a total cession.b.However, filing is not required if:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer, the insurer's<br>total ceded written premium represents, on an annualized basis, less<br>than ten percent of its total written premium for direct and assumed<br>business; or(2)As respects life, annuity, and accident and health business, the total<br>reserve credit taken for business ceded represents, on an annualized<br>basis, less than ten percent of the statutory reserve requirement prior to<br>any cession.2.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>nonrenewal, cancellation, or revision of ceded reinsurance agreements or<br>material new ceded reinsurance agreements:(1)Effective date of the nonrenewal, cancellation, revision, or new<br>agreement;(2)The description of the transaction with an identification of the initiator of<br>the transaction;(3)Purpose of, or reason for, the transaction; and(4)If applicable, the identity of the replacement reinsurers.b.Insurers are required to report all material nonrenewals, cancellations, or<br>revisions of ceded reinsurance agreements or material new ceded reinsurance<br>agreements on a nonconsolidated basis unless the insurer is part of a<br>consolidated group of insurers that utilizes a pooling arrangement or one<br>hundred percent reinsurance agreement that affects the solvency and integrity<br>of the insurer's reserves and the insurer ceded substantially all of its direct and<br>assumed business to the pool.An insurer is deemed to have cededsubstantially all of its direct and assumed business to a pool if the insurer has<br>less than one million dollars total direct plus assumed written premiums during<br>a calendar year which are not subject to a pooling arrangement and the net<br>income of the business not subject to the pooling arrangement represents less<br>than five percent of the insurer's capital and surplus.Page No. 3Document Outlinechapter 26.1-10.1 asset and agreement reports
CHAPTER 26.1-10.1ASSET AND AGREEMENT REPORTS26.1-10.1-01. Report.1.Every insurer domiciled in this state shall file a report with the commissioner<br>disclosing material acquisitions and dispositions of assets or material nonrenewals,<br>cancellations, or revisions of ceded reinsurance agreements or material new ceded<br>reinsurance agreements unless the acquisitions and dispositions of assets or<br>material nonrenewals, cancellations, or revisions of ceded reinsurance agreements<br>or material new ceded reinsurance agreements have been submitted to the<br>commissioner for review, approval, or information purposes pursuant to other<br>provisions of the insurance code, laws, rules, or other requirements.2.The report required in subsection 1 is due within fifteen days after the end of the<br>calendar month in which any of the foregoing transactions occur.3.One complete copy of the report, including any exhibits or other attachments, must<br>be filed with:a.The insurance department of the insurer's state of domicile; andb.The national association of insurance commissioners.4.All reports obtained by or disclosed to the commissioner under this chapter must be<br>given confidential treatment and are not subject to subpoena and must not be made<br>public by the commissioner, the national association of insurance commissioners, or<br>any other person, except to insurance departments of other states, without the prior<br>written consent of the insurer to which it pertains unless the commissioner, after<br>giving the insurer who would be affected notice and an opportunity to be heard,<br>determines that the interest of policyholders, shareholders, or the public will be<br>served by publication, in which event the commissioner may publish all or any part in<br>the manner the commissioner deems appropriate.26.1-10.1-02. Acquisitions and dispositions of assets.1.Materiality.Acquisitions or dispositions of assets need not be reported undersection 26.1-10.1-01 if the acquisitions or dispositions are not material.Forpurposes of this chapter, a material acquisition, or the aggregate of any series of<br>related acquisitions during any thirty-day period, or disposition, or the aggregate of<br>any series of related dispositions during any thirty-day period, is one that is<br>nonrecurring and not in the ordinary course of business and involves more than five<br>percent of the reporting insurer's total admitted assets as reported in its most recent<br>statutory statement filed with the insurance department of the insurer's state of<br>domicile.2.Scope.a.Asset acquisitions subject to this chapter include every purchase, lease,<br>exchange, merger, consolidation, succession, or other acquisition other than<br>the construction or development of real property by or for the reporting insurer<br>or the acquisition of materials for this purpose.b.Asset dispositions subject to this chapter include every sale, lease, exchange,<br>merger, consolidation, mortgage, hypothecation, assignment whether for the<br>benefit of creditors or otherwise, abandonment, destruction, or other<br>disposition.Page No. 13.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>acquisition or disposition of assets:(1)Date of the transaction;(2)Manner of acquisition or disposition;(3)Description of the assets involved;(4)Nature and amount of the consideration given or received;(5)Purpose of, or reason for, the transaction;(6)Manner by which the amount of consideration was determined;(7)Gain or loss recognized or realized as a result of the transaction; and(8)Names of the persons from whom the assets were acquired or to whom<br>they were disposed.b.Insurers are required to report material acquisitions and dispositions on a<br>nonconsolidated basis unless the insurer is part of a consolidated group of<br>insurers that utilizes a pooling arrangement or one hundred percent<br>reinsurance agreement that affects the solvency and integrity of the insurer's<br>reserves and the insurer ceded substantially all of its direct and assumed<br>business to the pool. An insurer is deemed to have ceded substantially all of its<br>direct and assumed business to a pool if the insurer has less than one million<br>dollars total direct plus assumed written premiums during a calendar year that<br>are not subject to a pooling arrangement and the net income of the business<br>not subject to the pooling arrangement represents less than five percent of the<br>insurer's capital and surplus.26.1-10.1-03.Nonrenewals, cancellations, or revisions of ceded reinsuranceagreements.1.Materiality and scope.a.Nonrenewals, cancellations, or revisions of ceded reinsurance agreements or<br>new ceded reinsurance agreements need not be reported under section<br>26.1-10.1-01 if the nonrenewals, cancellations, or revisions of ceded<br>reinsurance agreements or new ceded reinsurance agreements are not<br>material. For purposes of this chapter, a material nonrenewal, cancellation, or<br>revision of a ceded reinsurance agreement or a material new ceded<br>reinsurance agreement is one that affects:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer:(a)More than fifty percent of the insurer's total ceded written premium;<br>or(b)More than fifty percent of the insurer's total ceded indemnity and<br>loss adjustment reserves.(2)As respects life, annuity, and accident and health business, more than<br>fifty percent of the total reserve credit taken for business ceded, on anPage No. 2annualized basis, as indicated in the insurer's most recent annual<br>statement.(3)As respects either property and casualty or life, annuity, and accident and<br>health business, either of the following events constitutes a material<br>revision that must be reported:(a)An authorized reinsurer representing more than ten percent of a<br>total cession is replaced by one or more unauthorized reinsurers;<br>or(b)Previously established collateral requirements have been reduced<br>or waived as respects one or more unauthorized reinsurers<br>representing collectively more than ten percent of a total cession.b.However, filing is not required if:(1)As respects property and casualty business, including accident and<br>health business written by a property and casualty insurer, the insurer's<br>total ceded written premium represents, on an annualized basis, less<br>than ten percent of its total written premium for direct and assumed<br>business; or(2)As respects life, annuity, and accident and health business, the total<br>reserve credit taken for business ceded represents, on an annualized<br>basis, less than ten percent of the statutory reserve requirement prior to<br>any cession.2.Information to be reported.a.The following information is required to be disclosed in any report of a material<br>nonrenewal, cancellation, or revision of ceded reinsurance agreements or<br>material new ceded reinsurance agreements:(1)Effective date of the nonrenewal, cancellation, revision, or new<br>agreement;(2)The description of the transaction with an identification of the initiator of<br>the transaction;(3)Purpose of, or reason for, the transaction; and(4)If applicable, the identity of the replacement reinsurers.b.Insurers are required to report all material nonrenewals, cancellations, or<br>revisions of ceded reinsurance agreements or material new ceded reinsurance<br>agreements on a nonconsolidated basis unless the insurer is part of a<br>consolidated group of insurers that utilizes a pooling arrangement or one<br>hundred percent reinsurance agreement that affects the solvency and integrity<br>of the insurer's reserves and the insurer ceded substantially all of its direct and<br>assumed business to the pool.An insurer is deemed to have cededsubstantially all of its direct and assumed business to a pool if the insurer has<br>less than one million dollars total direct plus assumed written premiums during<br>a calendar year which are not subject to a pooling arrangement and the net<br>income of the business not subject to the pooling arrangement represents less<br>than five percent of the insurer's capital and surplus.Page No. 3Document Outlinechapter 26.1-10.1 asset and agreement reports
