28 Tex. Admin. Code § 7.216 - Liquidity Stress Test Framework
(a) Purpose.
This section specifies the requirements for the ultimate controlling person of
an insurance holding company system to submit a liquidity stress test framework
necessary to report information as required by Insurance Code §
823.0596.
(b) Liquidity stress test framework. The
commissioner adopts by reference the liquidity stress test framework as adopted
and published by the National Association of Insurance Commissioners (NAIC).
The liquidity stress test framework is available on the department's
website.
(c) Scope criteria. The
scope criteria are the designated criteria and thresholds described in the
liquidity stress test framework as adopted by reference in subsection (b) of
this section.
(d) Reporting
template. The reporting template an insurer must use is described in the
liquidity stress test framework as adopted in subsection (b) of this
section.
(e) Filing. Using the
reporting template described in the liquidity stress test framework adopted by
reference in subsection (b) of this section, the ultimate controlling person of
an insurer must submit a liquidity stress test framework filing on or before
June 30 of each year, using the appropriate reporting template in an electronic
format acceptable to TDI. The electronic filing address is provided on TDI's
website at www.tdi.texas.gov. Copies of
the latest editions of the reporting templates and related instruction manuals
adopted and published by the NAIC may be obtained from the NAIC or from the
Texas Department of Insurance, Financial Regulation Division.
(f) Exemption. Only after consultation with
other state insurance commissioners will the commissioner exempt from the
filing requirement a data year that an insurer would otherwise be required to
submit under subsection (e) of this section.
(g) Conflicts. In the event of a conflict
between the liquidity stress test framework adopted and published by the NAIC
and the Insurance Code, any TDI rule, or any specific requirement of this
section, the Insurance Code, TDI rule, or specific requirement of this section
takes precedence and in all respects controls. The requirements of this section
do not repeal, modify, or amend any TDI rule or any Insurance Code
provision.
Notes
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