Ins 8.28(3)(b)(b) Five percent of the total amount of projected claim funds the administrator expects to handle on behalf of residents of this state during the fiscal year following the year for which a financial statement is submitted under s. Ins 8.26 (1) (c). A bond under this paragraph need not exceed $250,000. Ins 8.28(4)(4) An administrator may exclude from the calculations required under sub. (2) (b) or (3) (b) all amounts handled as administrator for any of the following: Ins 8.28 HistoryHistory: Cr. Register, April, 1992, No. 436, eff. 5-1-92; correction in (4) (a) made under s. 13.93 (2m) (b) 7., Stats., Register, June, 1997, No. 498. Ins 8.30Ins 8.30 Notification to office. An administrator shall notify the office in writing of any of the following within 30 days after the date of the occurrence: Ins 8.30(1)(1) The cessation of business activities as an administrator. A notification under this subsection shall include the name and address of the custodian of the administrator’s business records and the location of those records. Ins 8.30(2)(2) Any change in the administrator’s business mailing address or the location of its business records. Ins 8.30(3)(3) Formal administrative action in this state or another state by an agency that regulates the business of administrators, insurance, real estate, securities or financial institutions against the administrator or any officer, director, partner or other individual having comparable responsibilities in the corporation or partnership. Ins 8.30(4)(4) The conviction in this state or another state of a felony or misdemeanor, other than a misdemeanor related to the use of a motor vehicle or the violation of a fish and game regulation, of the administrator or any of the officers, directors, partners or other persons having comparable responsibilities in the corporation or partnership. Ins 8.30 HistoryHistory: Cr. Register, April, 1992, No. 436, eff. 5-1-92. Ins 8.32Ins 8.32 Audit. In order to determine whether the financial resources of an administrator are adequate to safeguard the interests of the public and persons covered by a plan, or to determine the appropriate bond amount under s. Ins 8.28, the office may order the administrator to submit financial statements that have been audited by a certified public accountant. Ins 8.32 HistoryHistory: Cr. Register, April, 1992, No. 436, eff. 5-1-92. Ins 8.40Ins 8.40 Purpose. This subchapter interprets and implements ch. 635, Stats. Ins 8.40 HistoryHistory: Cr. Register, October, 1992, No. 442, eff. 11-1-92; am. Register, November, 1993, No. 455, eff. 2-1-94; correction made under s. 13.93 (2m) (b) 7., Stats., Register October 2002 No. 562; CR 17-015: am. Register December 2017 No. 744, eff. 1-1-18. Ins 8.42Ins 8.42 Definitions. In addition to the definitions in s. 635.02, Stats., which apply to this subchapter, in this subchapter: Ins 8.42(1)(1) “Basic market share ratio” means the ratio of the number of risk characteristic basic health benefit plans in force to the total number of basic health benefit plans in force. Ins 8.42(2)(2) “Commissioner” means the commissioner of insurance. Ins 8.42(3)(3) “Initial enrollment period” means a period prior to issuance of a policy during which eligible employees, and dependents of eligible employees, are entitled to enroll in coverage under the policy. Ins 8.42(4)(4) “Late enrollee” means an eligible employee, or dependent of an eligible employee, who does not request coverage under a policy during an enrollment period in which the individual is entitled to enroll in the policy, and who subsequently requests coverage under the policy, regardless of whether the enrollment period was held prior to, on or after the law’s effective date. “Late enrollee” does not include an individual who is a new entrant under sub. (7) (b) or (c). Ins 8.42(5)(5) “Law’s effective date” means May 12, 1992, or the first renewal date of a policy which occurs on or after May 12, 1992, whichever is later. Ins 8.42(6)(6) “Market share ratio” means the ratio of the number of risk characteristic basic health benefit plans in force to the total number of policies in force. Ins 8.42(7)(7) “New entrant” means an eligible employee, or the dependent of an eligible employee, who: Ins 8.42(7)(a)(a) Becomes part of an employer group on or after the law’s effective date and after commencement of an initial enrollment period; Ins 8.42(7)(b)(b) Is a spouse, minor or dependent under a covered employee’s policy who a court orders be covered under the policy and who requests enrollment within 30 days after issuance of the court order; or Ins 8.42(7)(c)(c) Failed to request enrollment in the policy during an enrollment period which commenced prior to, on or after the law’s effective date, during which the individual was entitled to enroll in the policy, if the individual: Ins 8.42(7)(c)2.2. Subsequently, and on or after February 1, 1994, loses coverage under the qualifying coverage; and