<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s906001f6-cdfe-4c89-adf0-7335214f09a4P0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s906001f6-cdfe-4c89-adf0-7335214f09a4C0 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001 { color: #000000; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s906001f6-cdfe-4c89-adf0-7335214f09a4000002 { color: #000000; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:31:30"><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">20</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">:</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">06</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">:</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">31</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">:</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000000">30</span></a><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">.  Certified reinsurers -</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">- F</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">iling requirements.</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> The certified reinsurer </span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">shall </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">agree to meet applicable information filing requirements as determined by the director, both with</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">respect to an initial application for certification and on an ongoing basis. All information</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">submitted by certified reinsurers shall be investigated by the division. The filing requirements</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">are, as follows:</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (1)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">Notify the director within ten days of any regulatory actions taken against the certified</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">reinsurer, any change in the provisions of its domiciliary license or any change in rating by an</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">approved rating agency, including a statement describing such changes and the reasons therefore;</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (2)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">Annually file the applicable Form CR-F</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">or CR-S, provided by the director;</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (3)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">Annually file the report of the independent auditor on the financial statements of the</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">insurance enterprise, on the basis described in subdivision (4) of this section;</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (4)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">Annually file </span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">the most recent </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">audited financial statements, regulatory filings, and actuarial opinion as filed with the certified reinsurer's</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">domiciliary jurisdiction</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">, with a translation into English</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">. Upon the initial certification, </span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">the director will consider </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">audited financial statements for the last</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">t</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">wo</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> years filed with the certified reinsurer' s supervisor;</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (5)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">At least annually</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">,</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> file an updated list of all disputed and overdue reinsurance claims</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">regarding reinsurance assumed from U.S. domestic ceding insurers;</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (6)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">File a certification from the certified reinsurer's domestic regulator that the certified</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">reinsurer is in good standing and maintains capital in excess of the jurisdiction's highest</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">regulatory action level; and</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    (7)</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">  </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">Any other information that the director may reasonably require.</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">Source:</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> 44 SDR 71, effective October 23, 2017</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">; 48 SDR 39, effective October 4, 2021</span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">.</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">General Authority:</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-14-17"><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000003">58-14-17</span></a><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">.</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">    </span><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000001">Law Implemented:</span><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=58-14-16.1"><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0-000003">58-14-16.1</span></a><span class="s906001f6-cdfe-4c89-adf0-7335214f09a4C0">.</span></p><p dir="ltr" class="s906001f6-cdfe-4c89-adf0-7335214f09a4P0"><span xml:space="preserve" class="s906001f6-cdfe-4c89-adf0-7335214f09a4000002"> </span></p></div></body></html>