| (a) As required in Insurance Code §964.060(b)(2)
and subject to the filing requirements of Insurance Code Chapter 401,
Subchapter A, the captive insurance company must file with the department
by June 1 of each year, a report of the captive insurance company's
financial condition at last year end. The report must include a qualified
accountant's opinion of the captive insurance company's financial
condition.
(b) The opinion must meet the requirements of Insurance
Code Chapter 401, Subchapter A, and §7.85 and §7.88 of this
title (relating to Audited Financial Reports and Independent Audits
of Insurer and HMO Financial Statements and Insurer and HMO Internal
Control over Financial Reporting).
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