§ 27-8.2-2 — § 27-8.2-2. Definitions.

Rhode Island § 27-8.2-2

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-8.2: Stop-Loss Insurance

Text

§ 27-8.2-2. Definitions.

(a) "Actuarial certification� means a written statement by a member of the American Academy of Actuaries, or other individual acceptable to the commissioner, that an insurer is in compliance with the provisions of this chapter. The written statement shall be based upon the individual's examination, and include a review of the appropriate records and the actuarial assumptions and methods used by the insurer in establishing attachment points and other applicable determinations in conjunction with the provision of stop-loss insurance coverage.

(b) "Attachment point� means the claims amount incurred by an insured group beyond which the insurer incurs a liability for payment.

(c) "Expected claims� means the amount of claims that, in the absence of a stop-loss policy or other insurance, are projected to be incurred by an insured group through its health plan.

Legislative History

P.L. 2013, ch. 86, § 1; P.L. 2013, ch. 92, § 1.