Current through Register Vol. 54, No. 49, December 7, 2024
Section 25.19 - Alternative and consolidated registrations(a) Under section 1404(i) of the act (40 P. S. § 991.1404(i)) an insurer authorized to do business in this Commonwealth may file a registration statement on behalf of an affiliated insurer which is required to register under section 1404 of the act. A registration statement may include information regarding an insurer in the insurance holding company system even if the insurer is not authorized to do business in this Commonwealth. In lieu of filing a registration statement on Form B located in Appendix A, an insurer authorized to do business in this Commonwealth may file a copy of the registration statement or similar report which it is required to file in its state of domicile, if: (1) The statement or report contains substantially similar information required to be furnished on Form B.(2) The filing insurer is the principal insurance company in the insurance holding company system.(b) The question of whether the filing insurer is the principal insurance company in the insurance holding company system is a question of fact. An insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer shall set forth a brief statement of facts to substantiate the filing insurer's claim that it, in fact, is the principal insurer in the insurance holding company system.(c) With the prior approval of the Commissioner, an unauthorized insurer may follow any of the procedures which could be done by an authorized insurer under subsection (a).(d) An insurer may take advantage of the provisions of section 1404(h) or (i) of the act without obtaining the prior approval of the Commissioner. The Commissioner reserves the right to require individual filings if the Commissioner deems that the filings are necessary in the interest of clarity, ease of administration or the public good.The provisions of this § 25.19 adopted September 3, 1993, effective 9/4/1993, 23 Pa.B. 4216; amended August 10, 2001, effective 8/11/2001, 31 Pa.B. 4406.The provisions of this § 25.19 issued under Article XIV of The Insurance Company Law of 1921 (40 P. S. §§ 991.1401-991.1413); amended under section 337.8 of The Insurance Company Law of 1921 (40 P. S. § 459.8).