5. Estimate of amount of time that state employees will spend developing the rule and of other resources necessary to develop the rule:
150 hours.
6. List with description of all entities that may be affected by the proposed rule:
Insurers licensed to do an insurance business in this state, either as a domestic or nondomestic insurer.
7. Summary and preliminary comparison with any existing or proposed federal regulation that is intended to address the activities to be regulated by the proposed rule:
There is no existing federal regulation that is intended to address the changes that will be proposed in this rule.
8. Anticipated economic impact of implementing the rule (note if the rule is likely to have a significant economic impact on small businesses):
The changes will provide clarity to insurers regarding the type of premium each type of insurer is to use for calculating compulsory surplus and is not expected to have any financial implications. The modifications to the compulsory surplus calculation for insurers offering Medicare stand-alone drug plans and insurers using separate account premiums will not cause the insurers to incur any increase in financial impact, and potentially the impact for those insurers will decrease.
Contact Person: Julie E. Walsh, Senior Attorney, (office) 608-264-8101, (mobile) 608-417-0281.
Mark Afable, Commissioner of Insurance Date
September 30, 2020
Date Submitted
