PIN 3.2.4

An Insurer that is subject to a regulatory requirement in another jurisdiction to arrange its affairs or any part of its affairs in a manner that is equivalent or substantially equivalent to the maintenance of a Long-Term Insurance Fund required by this section, may make a written application to the Regulator for that arrangement of its affairs or that part of its affairs to be deemed for the purposes of these Rules to constitute a Long-Term Insurance Fund. If the Regulator approves that application, it must inform the Insurer in writing, and must state in its notice to the Insurer the manner in which the arrangement will be deemed for the purpose of these Rules to constitute a Long-Term Insurance Fund.