| (a) The department adopts, by reference, the Texas
Captive Annual Report, including all forms, instructions, and requirements.
The adopted forms and instructions will be available on the department's
website. The adopted forms, instructions, and requirements are for
use by all captive insurance companies that are subject to the provisions
of this chapter and Insurance Code Chapter 964. Bracketed information
in the forms, including the department submission locations, submission
formats and methods, and contact information, is subject to change
and persons submitting the forms must confirm that they are using
the most recent online version before submitting.
(b) Except as provided in §6.404 of this title,
on or before March 1 of each year, a captive insurance company must
electronically submit its annual report of the captive insurance company's
financial condition as of December 31 of the prior year using the
adopted Texas Captive Annual Report form and instructions.
(c) A request to waive the actuarial opinion required
to be filed with the annual report must be submitted to the department
no later than 30 days prior to the end of the fiscal year subject
to the waiver request. If approved, the approved actuarial opinion
waiver must be submitted with the Texas Captive Annual Report. The
request must include:
(1) the name of the captive insurance company;
(2) the name and contact information of a representative
of the captive insurance company with knowledge of the information
disclosed in the request;
(3) the time period that the captive insurance company
has been in operation;
(4) the amount of net written premium or reinsurance
assumed; and
(5) the signature of an officer of the captive insurance
company, or attorney in fact, certifying the information contained
in the request is true and correct to the best of the signing individual's
knowledge and belief.
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