- (a) This part shall apply to all domestic life and disability insurers and to all other licensed life and disability insurers that are not subject to a substantially similar regulation in their domiciliary state.
- (b) This part shall also similarly apply to licensed property and/or casualty insurers with respect to their disability business.
(c) This part shall not apply to:
- (1) Bulk or assumption reinsurance;
- (2) Yearly renewable term reinsurance; or
- (3) Certain nonproportional reinsurance, such as stop loss or catastrophe reinsurance.