§ 3902 — Definitions

Pennsylvania § 3902

• Jurisdiction: Pennsylvania
• Title 40: INSURANCE
• Part: PART II
• Ch. 39: CORPORATE GOVERNANCE ANNUAL DISCLOSURE

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The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:

"Board."The board of directors of the filing entity.

"CGAD-related information."The CGAD or any documents, materials or other information, including proprietary and trade secret information or documents, related to an insurer or insurance group's CGAD.

"Commissioner."The Insurance Commissioner of the Commonwealth.

"Corporate governance annual disclosure"or"CGAD."The confidential report filed by the insurer or insurance group in accordance with the requirements of this chapter.

"Department."The Insurance Department of the Commonwealth.

"Insurance Company Law."The act of May 17, 1921 (P.L.682, No.284), known as The Insurance Company Law of 1921.

"Insurance group."The insurers and affiliates included within an insurance holding company system as defined in section 1401 of the Insurance Company Law.

"Insurer."A fraternal benefit society, a health maintenance organization, a preferred provider organization, a company, an association, an exchange, a hospital plan corporation as defined in and subject to Chapter 61 (relating to hospital plan corporations) or a professional health services plan corporation subject to Chapter 63 (relating to professional health services plan corporations) authorized by the commissioner to transact the business of insurance in this Commonwealth.

"Lead state."The state responsible for coordination and communication among state regulators regarding oversight of an insurance group, as determined by the department in consultation with other regulators with domestic insurers in the insurance group.

"NAIC."The National Association of Insurance Commissioners or successor organization and its affiliates and subsidiaries.

"Senior management."A corporate officer or other high-level management official responsible for reporting information to the board of directors at regular intervals, providing information to shareholders or providing information to regulators.