40-2d21. Comparison of health organization's total adjusted capital to RBC levels, prohibited generally. - Kansas Statutes

40-2d21

Chapter 40.--INSURANCE Article 2d.--HEALTH ORGANIZATION RISK-BASED CAPITAL REQUIREMENTS

      40-2d21.   Comparison of health organization's totaladjusted capital to RBC levels, prohibited generally.The comparison of a health organization's total adjustedcapital to any of its RBC levels is a regulatory tool, and shall not be used torank health organizations generally. Therefore, except as otherwise requiredunder the provisions of this act, the making, publishing, disseminating,circulating or placing before the public, or causing, directly or indirectly tobe made, published, disseminated, circulated or placed before the public, in anewspaper, magazine or other publication, or in the form of a notice, circular,pamphlet, letter or poster, or over any radio or television station, or in anyother way, an advertisement, announcement or statement containing an assertion,representation or statement with regard to the RBC levels of any healthorganization, or of any component derived in the calculation, by any healthorganization, agent, broker or other person engaged in any manner in theinsurance business is prohibited. Notwithstanding the foregoing, if anymaterially false statement with respect to the comparison regarding a healthorganization's total adjusted capital to any of its RBC levels or aninappropriate comparison of any other amount to the health organization's RBClevels is published in any written publication and the health organization isable todemonstrate to the commissioner with substantial proof the falsity ormisrepresentative nature of such statement, the health organization may publisha rebuttalif the sole purpose of such publication is to rebut the materially false orimproper statement.

      History:   L. 2000, ch. 147, § 22; July 1.