Solvency Requirements and Protections. The Contractor will be subject to requirements contained in KRS Chapter 304 and related administrative regulations regarding protection against insolvency and risk-based capital requirements. In addition, pursuant to KRS 304.3-125, the Commissioner has authority to require additional capital and surplus if it appears that an insurer is in a financially hazardous condition. The Contractor shall cover continuation of services to Members during insolvency, for the duration of the period for which payment has been made, as well as for inpatient admissions up until discharge. In the event of the Contractor’s insolvency, the Contractor shall not hold its Members liable, except in instances of Member fraud:
Appears in 4 contracts
Samples: Business Associate Agreement, Business Associate Agreement, Wellcare Health Plans, Inc.
Solvency Requirements and Protections. The Contractor will be subject to requirements contained in KRS Chapter 304 and related administrative regulations regarding protection against insolvency and risk-risk- based capital requirements. In addition, pursuant to KRS 304.3-125, the Commissioner has authority to require additional capital and surplus if it appears that an insurer is in a financially hazardous condition. The Contractor shall cover continuation of services to Members during insolvency, for the duration of the period for which payment has been made, as well as for inpatient admissions up until discharge. In the event of the Contractor’s insolvency, the Contractor shall not hold its Members liable, except in instances of Member fraud:
Appears in 2 contracts
Samples: Business Associate Agreement, Business Associate Agreement
