TITLE 27
Insurance
CHAPTER 27-34.2
Long Term Care Insurance
SECTION 27-34.2-8
§ 27-34.2-8 Discretionary powers of
director.
The director may upon written request issue an order to modify or suspend a
specific provision or provisions of regulations adopted pursuant to this
chapter, and may upon written request permit the use of waivers or riders, with
respect to a specific long term care insurance policy or certificate upon a
written finding that:
(1) The modification or suspension would be in the best
interest of the insureds;
(2) The purposes to be achieved could not be effectively or
efficiently achieved without the modification or suspension; and
(3)(i) The modification or suspension is necessary to the
development of an innovative and reasonable approach for insuring long term
care;
(ii) The policy or certificate is to be issued to residents
of a life care or continuing care retirement community or some other
residential community for the elderly and the modification or suspension is
reasonably related to the special needs or nature of the community; or
(iii) The modification or suspension is necessary to permit
long term care insurance to be sold as part of, or in conjunction with, another
insurance product.
History of Section.
(P.L. 1988, ch. 201, § 1.)
