As used in this chapter, the following terms shall have the followingmeanings:
"Adjusted RBC Report" means an RBC report which has been adjusted by theCommission in accordance with subsection F of § 38.2-5502.
"Capital and surplus" or "capital," except when used in the term"risk-based capital" or "adjusted capital," means net worth of a healthmaintenance organization and, for all other licensees, means surplus topolicyholders.
"Corrective Order" means an order issued by the Commission specifyingcorrective actions which the Commission has determined are required.
"Delinquency proceeding" means any proceeding commenced against a licenseefor the purpose of liquidating, rehabilitating, reorganizing or conserving alicensee pursuant to the provisions of Chapter 15 (§ 38.2-1500 et seq.).
"Domestic health organization" means a health organization domiciled inthis Commonwealth.
"Domestic insurer" means any domestic company which has obtained a licenseto engage in insurance transactions in this Commonwealth in accordance withthe applicable provisions of Chapter 10 (§ 38.2-1000 et seq.).
"Domestic licensee" means and includes a domestic insurer and a domestichealth organization.
"Foreign health organization" means a health organization not domiciled inthis Commonwealth which is licensed to do business in this Commonwealth.
"Foreign insurer" means any company not domiciled in this Commonwealthwhich has obtained a license to engage in insurance transactions in thisCommonwealth in accordance with the applicable provisions in Chapter 10 (§38.2-1000 et seq.).
"Foreign licensee" means and includes a foreign insurer and a foreignhealth organization.
"Health organization" means an insurer which is required by the Commissionto use the NAIC's Health Annual Statement blank when filing the annualstatement prescribed by § 38.2-1300, or a corporation licensed pursuant toChapter 42 (§ 38.2-4200 et seq.) of this title operating a health or hospitalservices plan in this Commonwealth, or a health maintenance organization orlimited health maintenance organization licensed pursuant to Chapter 43 (§38.2-4300 et seq.) of this title, or a corporation licensed pursuant toChapter 45 (§ 38.2-4500 et seq.) of this title and operating a dental oroptometric services plan in this Commonwealth.
"Licensee" means and includes a life and health insurer, a property andcasualty insurer, and a health organization.
"Life and health insurer" means any domestic insurer or foreign insurer,whether known as a life insurer or a property and casualty insurer or areciprocal, which is authorized to write any class of life insurance,annuities, or accident and sickness insurance, and is not writing a class ofinsurance set forth in §§ 38.2-110 through 38.2-132, provided that "life andhealth insurer" shall not include any insurer which is required by theCommission to use the NAIC's Health Annual Statement blank when filing theannual statement prescribed by § 38.2-1300.
"NAIC" means the National Association of Insurance Commissioners.
"Negative Trend," with respect to a life and health insurer, means anegative trend over a period of time, as determined in accordance with the"Trend Test Calculation" included in the Life RBC Instructions.
"Property and casualty insurer" means any domestic insurer or foreigninsurer which is authorized under any chapter of this title to write anyclass of insurance except a class of life insurance or annuities, providedthat "property and casualty insurer" shall not include monoline mortgageguaranty insurers, financial guaranty insurers and title insurers, nor shallit include any insurer which is required by the Commission to use the NAIC'sHealth Annual Statement blank when filing the annual statement prescribed by§ 38.2-1300.
"RBC" means risk-based capital.
"RBC Instructions" means the RBC Report including risk-based capitalinstructions adopted by the NAIC, as such RBC Instructions may be amended bythe NAIC from time to time in accordance with the procedures adopted by theNAIC.
"RBC Level" means a licensee's Company Action Level RBC, Regulatory ActionLevel RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
1. "Company Action Level RBC" means, with respect to any licensee, theproduct of 2.0 and its Authorized Control Level RBC;
2. "Regulatory Action Level RBC" means the product of 1.5 and itsAuthorized Control Level RBC;
3. "Authorized Control Level RBC" means the number determined under therisk-based capital formula in accordance with the RBC Instructions;
4. "Mandatory Control Level RBC" means the product of 0.70 and theAuthorized Control Level RBC.
"RBC Plan" means a comprehensive financial plan containing the elementsspecified in subsection B of § 38.2-5503. If the Commission rejects the RBCPlan, and it is revised by the licensee, with or without the Commission'srecommendation, the plan shall be called the "Revised RBC Plan."
"RBC Report" means the report required in § 38.2-5502.
"Total Adjusted Capital" means the sum of:
1. A licensee's statutory capital and surplus as determined in accordancewith statutory accounting applicable to the annual financial statementsrequired to be filed under § 38.2-1300; and
2. Such other items, if any, as the RBC Instructions may provide.
As used in this chapter, the following terms shall have the followingmeanings:
"Adjusted RBC Report" means an RBC report which has been adjusted by theCommission in accordance with subsection F of § 38.2-5502.
"Capital and surplus" or "capital," except when used in the term"risk-based capital" or "adjusted capital," means net worth of a healthmaintenance organization and, for all other licensees, means surplus topolicyholders.
"Corrective Order" means an order issued by the Commission specifyingcorrective actions which the Commission has determined are required.
"Delinquency proceeding" means any proceeding commenced against a licenseefor the purpose of liquidating, rehabilitating, reorganizing or conserving alicensee pursuant to the provisions of Chapter 15 (§ 38.2-1500 et seq.).
"Domestic health organization" means a health organization domiciled inthis Commonwealth.
"Domestic insurer" means any domestic company which has obtained a licenseto engage in insurance transactions in this Commonwealth in accordance withthe applicable provisions of Chapter 10 (§ 38.2-1000 et seq.).
"Domestic licensee" means and includes a domestic insurer and a domestichealth organization.
"Foreign health organization" means a health organization not domiciled inthis Commonwealth which is licensed to do business in this Commonwealth.
"Foreign insurer" means any company not domiciled in this Commonwealthwhich has obtained a license to engage in insurance transactions in thisCommonwealth in accordance with the applicable provisions in Chapter 10 (§38.2-1000 et seq.).
"Foreign licensee" means and includes a foreign insurer and a foreignhealth organization.
"Health organization" means an insurer which is required by the Commissionto use the NAIC's Health Annual Statement blank when filing the annualstatement prescribed by § 38.2-1300, or a corporation licensed pursuant toChapter 42 (§ 38.2-4200 et seq.) of this title operating a health or hospitalservices plan in this Commonwealth, or a health maintenance organization orlimited health maintenance organization licensed pursuant to Chapter 43 (§38.2-4300 et seq.) of this title, or a corporation licensed pursuant toChapter 45 (§ 38.2-4500 et seq.) of this title and operating a dental oroptometric services plan in this Commonwealth.
"Licensee" means and includes a life and health insurer, a property andcasualty insurer, and a health organization.
"Life and health insurer" means any domestic insurer or foreign insurer,whether known as a life insurer or a property and casualty insurer or areciprocal, which is authorized to write any class of life insurance,annuities, or accident and sickness insurance, and is not writing a class ofinsurance set forth in §§ 38.2-110 through 38.2-132, provided that "life andhealth insurer" shall not include any insurer which is required by theCommission to use the NAIC's Health Annual Statement blank when filing theannual statement prescribed by § 38.2-1300.
"NAIC" means the National Association of Insurance Commissioners.
"Negative Trend," with respect to a life and health insurer, means anegative trend over a period of time, as determined in accordance with the"Trend Test Calculation" included in the Life RBC Instructions.
"Property and casualty insurer" means any domestic insurer or foreigninsurer which is authorized under any chapter of this title to write anyclass of insurance except a class of life insurance or annuities, providedthat "property and casualty insurer" shall not include monoline mortgageguaranty insurers, financial guaranty insurers and title insurers, nor shallit include any insurer which is required by the Commission to use the NAIC'sHealth Annual Statement blank when filing the annual statement prescribed by§ 38.2-1300.
"RBC" means risk-based capital.
"RBC Instructions" means the RBC Report including risk-based capitalinstructions adopted by the NAIC, as such RBC Instructions may be amended bythe NAIC from time to time in accordance with the procedures adopted by theNAIC.
"RBC Level" means a licensee's Company Action Level RBC, Regulatory ActionLevel RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
1. "Company Action Level RBC" means, with respect to any licensee, theproduct of 2.0 and its Authorized Control Level RBC;
2. "Regulatory Action Level RBC" means the product of 1.5 and itsAuthorized Control Level RBC;
3. "Authorized Control Level RBC" means the number determined under therisk-based capital formula in accordance with the RBC Instructions;
4. "Mandatory Control Level RBC" means the product of 0.70 and theAuthorized Control Level RBC.
"RBC Plan" means a comprehensive financial plan containing the elementsspecified in subsection B of § 38.2-5503. If the Commission rejects the RBCPlan, and it is revised by the licensee, with or without the Commission'srecommendation, the plan shall be called the "Revised RBC Plan."
"RBC Report" means the report required in § 38.2-5502.
"Total Adjusted Capital" means the sum of:
1. A licensee's statutory capital and surplus as determined in accordancewith statutory accounting applicable to the annual financial statementsrequired to be filed under § 38.2-1300; and
2. Such other items, if any, as the RBC Instructions may provide.
As used in this chapter, the following terms shall have the followingmeanings:
"Adjusted RBC Report" means an RBC report which has been adjusted by theCommission in accordance with subsection F of § 38.2-5502.
"Capital and surplus" or "capital," except when used in the term"risk-based capital" or "adjusted capital," means net worth of a healthmaintenance organization and, for all other licensees, means surplus topolicyholders.
"Corrective Order" means an order issued by the Commission specifyingcorrective actions which the Commission has determined are required.
"Delinquency proceeding" means any proceeding commenced against a licenseefor the purpose of liquidating, rehabilitating, reorganizing or conserving alicensee pursuant to the provisions of Chapter 15 (§ 38.2-1500 et seq.).
"Domestic health organization" means a health organization domiciled inthis Commonwealth.
"Domestic insurer" means any domestic company which has obtained a licenseto engage in insurance transactions in this Commonwealth in accordance withthe applicable provisions of Chapter 10 (§ 38.2-1000 et seq.).
"Domestic licensee" means and includes a domestic insurer and a domestichealth organization.
"Foreign health organization" means a health organization not domiciled inthis Commonwealth which is licensed to do business in this Commonwealth.
"Foreign insurer" means any company not domiciled in this Commonwealthwhich has obtained a license to engage in insurance transactions in thisCommonwealth in accordance with the applicable provisions in Chapter 10 (§38.2-1000 et seq.).
"Foreign licensee" means and includes a foreign insurer and a foreignhealth organization.
"Health organization" means an insurer which is required by the Commissionto use the NAIC's Health Annual Statement blank when filing the annualstatement prescribed by § 38.2-1300, or a corporation licensed pursuant toChapter 42 (§ 38.2-4200 et seq.) of this title operating a health or hospitalservices plan in this Commonwealth, or a health maintenance organization orlimited health maintenance organization licensed pursuant to Chapter 43 (§38.2-4300 et seq.) of this title, or a corporation licensed pursuant toChapter 45 (§ 38.2-4500 et seq.) of this title and operating a dental oroptometric services plan in this Commonwealth.
"Licensee" means and includes a life and health insurer, a property andcasualty insurer, and a health organization.
"Life and health insurer" means any domestic insurer or foreign insurer,whether known as a life insurer or a property and casualty insurer or areciprocal, which is authorized to write any class of life insurance,annuities, or accident and sickness insurance, and is not writing a class ofinsurance set forth in §§ 38.2-110 through 38.2-132, provided that "life andhealth insurer" shall not include any insurer which is required by theCommission to use the NAIC's Health Annual Statement blank when filing theannual statement prescribed by § 38.2-1300.
"NAIC" means the National Association of Insurance Commissioners.
"Negative Trend," with respect to a life and health insurer, means anegative trend over a period of time, as determined in accordance with the"Trend Test Calculation" included in the Life RBC Instructions.
"Property and casualty insurer" means any domestic insurer or foreigninsurer which is authorized under any chapter of this title to write anyclass of insurance except a class of life insurance or annuities, providedthat "property and casualty insurer" shall not include monoline mortgageguaranty insurers, financial guaranty insurers and title insurers, nor shallit include any insurer which is required by the Commission to use the NAIC'sHealth Annual Statement blank when filing the annual statement prescribed by§ 38.2-1300.
"RBC" means risk-based capital.
"RBC Instructions" means the RBC Report including risk-based capitalinstructions adopted by the NAIC, as such RBC Instructions may be amended bythe NAIC from time to time in accordance with the procedures adopted by theNAIC.
"RBC Level" means a licensee's Company Action Level RBC, Regulatory ActionLevel RBC, Authorized Control Level RBC, or Mandatory Control Level RBC where:
1. "Company Action Level RBC" means, with respect to any licensee, theproduct of 2.0 and its Authorized Control Level RBC;
2. "Regulatory Action Level RBC" means the product of 1.5 and itsAuthorized Control Level RBC;
3. "Authorized Control Level RBC" means the number determined under therisk-based capital formula in accordance with the RBC Instructions;
4. "Mandatory Control Level RBC" means the product of 0.70 and theAuthorized Control Level RBC.
"RBC Plan" means a comprehensive financial plan containing the elementsspecified in subsection B of § 38.2-5503. If the Commission rejects the RBCPlan, and it is revised by the licensee, with or without the Commission'srecommendation, the plan shall be called the "Revised RBC Plan."
"RBC Report" means the report required in § 38.2-5502.
"Total Adjusted Capital" means the sum of:
1. A licensee's statutory capital and surplus as determined in accordancewith statutory accounting applicable to the annual financial statementsrequired to be filed under § 38.2-1300; and
2. Such other items, if any, as the RBC Instructions may provide.
