Section 230-RICR-20-55-1.3 - ConditionsA. To be eligible to be considered for licensure within the State of Rhode Island, all foreign insurance companies must file an application following the standards established by the National Association of Insurance Commissioners' Uniform Certificate of Authority Application (NAIC UCAA). Such applications must be filed using the NAIC UCAA's Expansion Application. Each application will undergo a rigorous financial and operational review to determine that the applicant company has a positive financial history and that its presence in the State of Rhode Island will not be detrimental to the residents of this State.B. Consideration will be given to the company's proposed plan of operation, its ownership and management staff, the company's affiliations with other Rhode Island licensed insurance companies, and its recent history of ratings by A.M. Best or other appropriate rating agencies. The review process will particularly consider the company's financial history as indicated by Insurance Regulatory Information System (IRIS) and Financial Analysis Solvency Tools (FAST) ratios, revenues, net incomes or losses, capital gains or losses (realized and unrealized), changes in capital and surplus, changes in assets and liabilities, and the trend of its Risk-Based Capital ratio. Due consideration will also be given to commentaries contained in the most recent independent Certified Public Accountant's Report, Actuarial Opinion, Management Discussion and Analysis Report, and the most recent Examination Report provided by the state of domicile.230 R.I. Code R. 230-RICR-20-55-1.3