This text of Tennessee § 56-46-102 (Part definitions) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
As used in this part, 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 title 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 Commissioner
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As used in this part, 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 title 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 0.70 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.