District Of Columbia § 31-2002 - RBC Reports.
Full text of District Of Columbia D.C. Code § 31-2002 — RBC Reports., with citation guidance and answers to common questions.
§ 31-2002. RBC Reports.
31-2002Every domestic insurer shall, on or prior to each March 1 (“filing date”), prepare and submit to the Commissioner a report of its RBC Levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC Instructions. In addition, every domestic insurer shall file its RBC Report:
With the NAIC in accordance with the RBC Instructions; and
With the commissioner in any state in which the insurer is authorized to do business, if the commissioner has notified the insurer of its request in writing, in which case the insurer shall file its RBC Report not later than the later of:
Fifteen days from the receipt of notice to file its RBC Report with that state; or
The filing date.
A life and health insurer’s RBC shall be determined in accordance with the formula set forth in the RBC Instructions. The formula shall take into account, and may be adjusted for the covariance between:
The risk with respect to the insurer’s assets;
The risk of adverse insurance experience with respect to the insurer’s liabilities and obligations;
The interest rate risk with respect to the insurer’s business; and
All other business risks and such other relevant risks as are set forth in the RBC Instructions;
Factors set forth in subsection (b)(1) through (4) of this section shall be determined in each case by applying the factors in the manner set forth in the RBC Instructions.
A property and casualty insurer’s RBC shall be determined in accordance with the formula set forth in the RBC Instructions. The formula shall take into account and may adjust for the covariance between:
Asset risk;
Credit risk;
Underwriting risk; and
All other business risks and such other relevant risks as are set forth in the RBC Instructions;
The factors set forth in subsection (d)(1) through (4) of this section shall be determined in each case by applying the factors in the manner set forth in the RBC Instructions.
An excess of capital over the amount produced by the risk-based capital requirements contained in this chapter and the formulas, schedules, and instructions referenced in this chapter is desirable in the business of insurance. Insurers should maintain capital above the RBC Levels required by this chapter.
If a domestic insurer files an RBC Report which in the judgment of the Commissioner is inaccurate, then the Commissioner shall adjust the RBC Report to correct the inaccuracy and shall notify the insurer of the adjustment. The notice shall contain a statement of the reason for the adjustment.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 31-2002
What does D.C. Code § 31-2002 cover?
Section 31-2002 ("RBC Reports.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 31-2002?
A common citation format is "D.C. Code § 31-2002" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 31-2002 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.