Farmers Alliance Mutual Insurance Company - Kansas Insurance

Farmers Alliance Mutual Insurance Company - Kansas Insurance

FINAL ORDER EFFECTIVE: 4-22-15 BEFORE THE COMMISSIONER OF INSURANCE OF THE STATE OF KANSAS In the Matter of the Proposed Adoption of the Financial Co...

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FINAL ORDER EFFECTIVE: 4-22-15 BEFORE THE COMMISSIONER OF INSURANCE OF THE STATE OF KANSAS

In the Matter of the Proposed Adoption of the Financial Condition Examination Report as of December 31, 2013 Farmers Alliance Mutual Insurance Company Company Code: 19194

) ) ) ) )

Docket No. 4749-ER

CONSENT ORDER NOW COMES on for formal disposition the matter of the proposed adoption of the financial condition examination report as of December 31, 2013 of Farmers Alliance Mutual Insurance Company, a Kansas corporation. This matter is brought before the Commissioner of Insurance for adoption, rejection, or modification pursuant to the provisions of K.S.A. 40-222. The Kansas Insurance Department and Farmers Alliance Mutual Insurance Company wish to resolve this matter by entering into this Consent Order. Farmers Alliance Mutual Insurance Company hereby waives any and all rights to further administrative adjudication or review of this matter, including any and all right conferred upon it under K.S.A. 77-501 et seq. This Consent Order constitutes the Final Order in this matter. The Commissioner of Insurance, having fully considered and reviewed the financial condition examination report, together with all written submissions, applicable rebuttals, and all relevant portions of the examiners’ work papers, and further, being fully advised on all premises, hereby find:

Policy Reasons It is stated policy of the State of Kansas that whenever the Commissioner of Insurance deems it necessary, an examination of the affairs and financial condition of any insurance company in the process of organization, applying for admission, or doing business in this State can be undertaken. In all cases, such an examination must occur once every five (5) years. Through the examination process, the insurance consuming public will be well served and protected. Findings of Fact 1.

The Commissioner of Insurance has jurisdiction over this matter pursuant

to K.S.A. 40-222. 2.

An examination of Farmers Alliance Mutual Insurance Company was

undertaken by the Kansas Insurance Department and was completed on February 13, 2015. 3.

The examiner-in-charge tendered and filed with the Kansas Insurance

Department a verified written report of the examination within thirty (30) days following completion of the examination, to wit; February 20, 2015. 4.

Following receipt of the verified report, the Kansas Insurance Department

transmitted the report to Farmers Alliance Mutual Insurance Company, on March 17, 2015, with a duly executed notice advising the company of its opportunity to prepare and submit to the Kansas Insurance Department a written submission or rebuttal with respect to any and all matters contained in the report.

Farmers Alliance Mutual

Insurance Company was further advised that any written submission or rebuttal needed

to be filed with the Kansas Insurance Department no later than thirty (30) days after receipt of the verified report. 5.

Farmers Alliance Mutual Insurance Company filed a written acceptance of

the verified report on March 25, 2015. 6.

Based upon the written submission tendered by Farmers Alliance Mutual

Insurance Company, the company took no exceptions to matters contained in the verified report. 7.

Within thirty (30) days of the end of the time period allowed for written

submission or rebuttal, the Commissioner of Insurance fully reviewed the report, together with all written submissions and rebuttals provided by Farmers Alliance Mutual Insurance Company.

The Commissioner of Insurance further reviewed all relevant

workpapers. 8.

No other written submissions or rebuttals were submitted by Farmers

Alliance Mutual Insurance Company. Conclusion of Law 9.

K.S.A. 40-222(k)(2) provides: “Within 30 days of the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiners workpapers and enter an order: (A) Adopting the examination report as filed or with modification or corrections. If the examination report reveals that the company is operating in violation of any law, regulation or prior order of the commissioner, the commissioner may order the company to take any action the commissioner considers necessary and appropriate to cure such violations; or (B) rejecting the examination report with directions to the examiners to reopen the examination for purposes of obtaining additional data,

documentation or information, and refiling pursuant to subsection (k); or (C) call and conduct a fact-finding hearing in accordance with K.S.A. 40281 and amendments thereto for purposes of obtaining additional documentation, data, information and testimony.” 10.

Based upon the Findings of Fact enumerated in paragraphs #1 through

#8 above, the financial condition examination report as of December 31, 2013 of Farmers Alliance Mutual Insurance Company should be adopted. IT IS THEREFORE, BY THE COMMISSIONER OF INSURANCE, ORDERED THAT: 1.

The financial condition examination report as of December 31, 2013 of

Farmers Alliance Mutual Insurance Company hereby is adopted. 2.

The Commissioner of Insurance retains jurisdiction over this matter to

issue any and all further Orders deemed appropriate or to take such further action necessary to dispose of this matter. IT IS SO ORDERED THIS __22nd__ DAY OF ____April_____, 2015 IN THE CITY OF TOPEKA, COUNTY OF SHAWNEE, STATE OF KANSAS.

_/s/ Ken Selzer____________________ Ken Selzer, CPA Commissioner of Insurance By:

_/s/ Diane Minear__________________ Diane Minear Interim General Counsel

By:

_/s/ Joseph J. Brossard_____________ Joseph J. Brossard, President & CEO Farmers Alliance Mutual Insurance Company

“Certificate of Service The undersigned hereby certifies that he was served a true and correct copy of the above and foregoing Consent Order on this __22nd___ day of ___April______, 2015, by causing the same to be e-mailed to Joseph J. Brossard at [email protected] Joseph J. Brossard, President & CEO Alliance Insurance Company, Inc. 122 N. Main Street McPherson, KS 67460

_/s/ Tian Xiao_______________ Tian Xiao Chief Examiner