As used in this chapter, unless the context otherwise requires:
(1) Adjusted RBC Report means an RBC report that has been adjusted by the commissioner in accordance with § 56-46-103(e);
(2) Corrective order means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required;
(3) Domestic insurer means any insurance company domiciled in Tennessee;
(4) Foreign insurer means any insurance company that is licensed to do business in Tennessee under this chapter but is not domiciled in Tennessee;
(5) Life and/or health insurer means any insurance company licensed for those lines in Tennessee, or a property and casualty insurer writing only accident and health insurance;
(6) NAIC means the National Association of Insurance Commissioners;
(7) Negative trend means, with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions;
(8) Property and casualty insurer means any insurance company licensed in those lines in Tennessee, but does not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers;
(9) RBC Instructions means the RBC Report including risk-based capital instructions adopted by the NAIC, as the RBC Instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC;
(10) RBC Level means an insurer's Company Action Level RBC, Regulatory Action Level RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
(A) Authorized Control Level RBC means the number determined under the risk-based capital formula in accordance with the RBC Instructions;
(B) Company Action Level RBC means, with respect to any insurer, the product of 2.0 and its Authorized Control Level RBC;
(C) Mandatory Control Level RBC means the product of .70 and the authorized Control Level RBC; and
(D) Regulatory Action Level RBC means the product of 1.5 and its authorized Control Level RBC;
(11) RBC Plan means a comprehensive financial plan containing the elements specified in § 56-46-104(b). If the commissioner rejects the RBC Plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan shall be called the Revised RBC Plan;
(12) RBC Report means the report required in § 56-46-103; and
(13) Total adjusted capital means the sum of:
(A) An insurer's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed pursuant to § 56-1-501; and
(B) The other items, if any, that the RBC Instructions may provide.
As used in this chapter, unless the context otherwise requires:
(1) Adjusted RBC Report means an RBC report that has been adjusted by the commissioner in accordance with § 56-46-103(e);
(2) Corrective order means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required;
(3) Domestic insurer means any insurance company domiciled in Tennessee;
(4) Foreign insurer means any insurance company that is licensed to do business in Tennessee under this chapter but is not domiciled in Tennessee;
(5) Life and/or health insurer means any insurance company licensed for those lines in Tennessee, or a property and casualty insurer writing only accident and health insurance;
(6) NAIC means the National Association of Insurance Commissioners;
(7) Negative trend means, with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions;
(8) Property and casualty insurer means any insurance company licensed in those lines in Tennessee, but does not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers;
(9) RBC Instructions means the RBC Report including risk-based capital instructions adopted by the NAIC, as the RBC Instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC;
(10) RBC Level means an insurer's Company Action Level RBC, Regulatory Action Level RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
(A) Authorized Control Level RBC means the number determined under the risk-based capital formula in accordance with the RBC Instructions;
(B) Company Action Level RBC means, with respect to any insurer, the product of 2.0 and its Authorized Control Level RBC;
(C) Mandatory Control Level RBC means the product of .70 and the authorized Control Level RBC; and
(D) Regulatory Action Level RBC means the product of 1.5 and its authorized Control Level RBC;
(11) RBC Plan means a comprehensive financial plan containing the elements specified in § 56-46-104(b). If the commissioner rejects the RBC Plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan shall be called the Revised RBC Plan;
(12) RBC Report means the report required in § 56-46-103; and
(13) Total adjusted capital means the sum of:
(A) An insurer's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed pursuant to § 56-1-501; and
(B) The other items, if any, that the RBC Instructions may provide.
As used in this chapter, unless the context otherwise requires:
(1) Adjusted RBC Report means an RBC report that has been adjusted by the commissioner in accordance with § 56-46-103(e);
(2) Corrective order means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required;
(3) Domestic insurer means any insurance company domiciled in Tennessee;
(4) Foreign insurer means any insurance company that is licensed to do business in Tennessee under this chapter but is not domiciled in Tennessee;
(5) Life and/or health insurer means any insurance company licensed for those lines in Tennessee, or a property and casualty insurer writing only accident and health insurance;
(6) NAIC means the National Association of Insurance Commissioners;
(7) Negative trend means, with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions;
(8) Property and casualty insurer means any insurance company licensed in those lines in Tennessee, but does not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers;
(9) RBC Instructions means the RBC Report including risk-based capital instructions adopted by the NAIC, as the RBC Instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC;
(10) RBC Level means an insurer's Company Action Level RBC, Regulatory Action Level RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
(A) Authorized Control Level RBC means the number determined under the risk-based capital formula in accordance with the RBC Instructions;
(B) Company Action Level RBC means, with respect to any insurer, the product of 2.0 and its Authorized Control Level RBC;
(C) Mandatory Control Level RBC means the product of .70 and the authorized Control Level RBC; and
(D) Regulatory Action Level RBC means the product of 1.5 and its authorized Control Level RBC;
(11) RBC Plan means a comprehensive financial plan containing the elements specified in § 56-46-104(b). If the commissioner rejects the RBC Plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan shall be called the Revised RBC Plan;
(12) RBC Report means the report required in § 56-46-103; and
(13) Total adjusted capital means the sum of:
(A) An insurer's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed pursuant to § 56-1-501; and
(B) The other items, if any, that the RBC Instructions may provide.
