Ohio § 1753.32

§ 1753.32.

(A) Each domestic health insuring corporation shall, on or prior to the first day of

March of every year, prepare and submit to the superintendent of insurance a report

on 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, a domestic health insuring corporation shall file its RBC report as

follows: (1) With the NAIC, in accordance with the RBC instructions; (2) With the insurance regulatory authority of any other state in which the health insuring

corporation is authorized to do business, if the insurance regulatory authority of

that state has sent a written request to the health insuring corporation for the RBC

report.  The health insuring corporation shall file an RBC report with the requesting state

no later than the later of: (a) Fifteen days after the health insuring corporation's receipt of the insurance regulatory

authority's request for the RBC report; (b) Prior to the first day of March. (B) A health insuring corporation's RBC levels shall be determined in accordance with

the formula set forth in the RBC instructions.  The formula shall take the following risks into account, and may adjust for the

covariance between these risks, as determined in each case by applying the factors

in the manner set forth in the RBC instructions: (1) Asset risk; (2) Credit risk; (3) Underwriting risk; (4) All other business risks and such other relevant risks as are set forth in the RBC

instructions. (C) If a domestic health insuring corporation files an RBC report that in the judgment

of the superintendent is inaccurate, the superintendent shall adjust the RBC report

to correct the inaccuracy and then shall provide a copy of the adjusted RBC report

to the health insuring corporation.  The superintendent shall also provide the health insuring corporation with a statement

of the reasons for any adjustment. (D) In enacting sections 1753.31 to 1753.43 of the Revised Code , the general assembly finds all of the following: (1) An excess of capital over the amount produced by the risk-based capital requirements

of sections 1753.31 to 1753.43 of the Revised Code , and the formulas, schedules, and instructions referenced in sections 1753.31 to 1753.43 of the Revised Code , is desirable in the business of insurance. (2) Health insuring corporations, accordingly, should seek to maintain capital above

the RBC levels required by sections 1753.31 to 1753.43 of the Revised Code . (3) Additional capital is used and is useful in the business of insurance, helping to

secure a health insuring corporation against various risks inherent in, or affecting,

the business of insurance, which risks are not accounted for or are only partially

measured by the risk-based capital requirements of sections 1753.31 to 1753.43 of the Revised Code .