§ 27-4.6-1. Definitions.
As used in this chapter:
(1) "Adjusted RBC report� means an RBC report adjusted by the commissioner in accordance
with § 27-4.6-2(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 this state.
(4) "Foreign insurer� means any insurance company licensed to do business in this state
under chapter 2 of this title but is not domiciled in this state.
(5) "Life and/or health insurer� means any insurance company licensed under chapter 1
or 2 of this title and: (i) authorized to transact the business of life insurance
or annuities as defined in chapter 4 of this title; or (ii) authorized to write policies
of accident and sickness as defined in § 27-18-1; or (iii) a licensed 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 all other insurance companies licensed under
chapter 1 or 2 of this title but shall not include mono-line 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 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:
(i) "Company action level RBC� means, with respect to any insurer, the product of two
(2.0) and its authorized control level RBC;
(ii) "Regulatory action level RBC� means the product of one and one-half (1.5) and its
authorized control level RBC;
(iii) "Authorized control level RBC� means the number determined under the risk-based capital
formula in accordance with the RBC instructions;
(iv) "Mandatory control level RBC� means the product of seven-tenths (.70) and the authorized
control level RBC.
(11) "RBC plan� means a comprehensive financial plan containing the elements specified
in § 27-4.6-3(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 reportâ€� means the report required in § 27-4.6-2.
(13) "Total adjusted capital� means the sum of:
(i) An insurer's statutory capital and surplus; and
(ii) Those other items, if any, as the RBC instructions may provide.