Idaho Admin. Code r. 18.07.04.015

Current through September 2, 2024

Section 18.07.04.015 - CONSOLIDATED OR COMBINED AUDITS

An insurer may make written application to the Director for approval to file audited consolidated or combined financial statements in lieu of separate annual audited financial statements if the insurer is part of a group of insurance companies that utilizes a pooling or one hundred percent (100%) reinsurance agreement that affects the solvency and integrity of the insurer's reserves and such insurer cedes all of its direct and assumed business to the pool. In such cases, a columnar consolidating or combining worksheet will be filed with the report, as follows:

01.Worksheet. Amounts shown on the consolidated or combined Audited financial report will be shown on the worksheet;

02.Separate Amounts. Amounts for each insurer subject to this section will be stated separately;

03.Noninsurance Operations. Noninsurance operations may be shown on the worksheet on a combined or individual basis;

04.Explanations of Consolidating and Eliminating Entries. Explanations of consolidating and eliminating entries will be included; and

05.Reconciliation. A reconciliation will be included of any differences between the amounts shown in the individual insurer columns of the worksheet and comparable amounts shown on the annual statement of the insurers.

Idaho Admin. Code r. 18.07.04.015

Effective March 31, 2022