District Of Columbia § 31-2102 - Corrective actions.

Reduce the total amount of present and potential liability for policy benefits by reinsurance;

Reduce, suspend, or limit the volume of business being accepted or renewed;

Reduce general insurance and commission expenses by specified methods;

Increase the insurer’s capital and surplus;

Suspend or limit the declaration and payment of dividend by an insurer to its stockholders or to its policyholders;

File reports in a form acceptable to the Mayor concerning the market value of an insurer’s assets;

Limit or withdraw from certain investments or discontinue certain investment practices to the extent the Mayor deems necessary;

Document the adequacy of premium rates in relation to the risks insured;

File, in addition to regular annual statements, interim financial reports on the form adopted by the National Association of Insurance Commissioners or on a form promulgated by the Mayor;

Correct corporate governance practice deficiencies and adopt and utilize governance practices acceptable to the Mayor;

Provide a business plan to the Mayor in order to continue to transact business in the District; or

Notwithstanding any other provision of law limiting the frequency or amount of premium rate adjustments, adjust rates for any non-life insurance product written by the insurer that the Mayor considers necessary to improve the financial condition of the insurer.

Disregard any credit or amount receivable resulting from transactions with a reinsurer that is insolvent, impaired, or otherwise subject to a delinquency proceeding;

Make appropriate adjustments including disallowance to asset values attributable to investments in or transactions with parents, subsidiaries, or affiliates consistent with the National Association of Insurance Commissioners Accounting Policies and Procedures Manual and District laws and regulations;

Refuse to recognize the stated value of accounts receivable if the ability to collect receivables is highly speculative in view of the age of the account or the financial condition of the debtor; and

Increase the insurer’s liability in an amount equal to any contingent liability, pledge, or guarantee not otherwise included if there is a substantial risk that the insurer will be called upon to meet the obligation undertaken within the next 12-month period.