Conn. Agencies Regs. § 38a-193-1 - Definitions
As used in sections 38a-193-1 to 38a-193-13, inclusive, of the Regulations of Connecticut State Agencies:
(1) "Adjusted RBC report" means an RBC report
which has been adjusted by the commissioner in accordance with section
38a-193-2(d)
of the Regulations of Connecticut State Agencies;
(2) "Commissioner" means the Insurance
Commissioner of the State of Connecticut;
(3) "Corrective order" means an order issued
by the commissioner specifying corrective actions which the commissioner has
determined are required;
(4)
"Domestic health care center" means a health care center domiciled in this
state that is licensed to do health care center business in this state under
section
38a-41
of the Connecticut General Statutes;
(5) "Foreign health care center" means a
health care center that is licensed to do health care center business in this
state under section
38a-41
of the Connecticut General Statutes but is not domiciled in this
state;
(6) "Health care center"
means a "health care center" as defined in section
38a-175
of the Connecticut General Statutes, and includes both a domestic health care
center and a foreign health care center. This definition does not include an
organization that is licensed as an insurance company under section
38a-41
of the Connecticut General Statutes and that is otherwise subject to the
financial requirements of section
38a-72
of the Connecticut General Statutes;
(7) "NAIC" means the National Association of
Insurance Commissioners;
(8) "RBC"
means risk-based capital;
(9) "RBC
instructions" means the RBC report including risk-based capital instructions
adopted by the NAIC, as these 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 a health care center's
Company Action Level RBC, Regulatory Action Level RBC, Authorized Control Level
RBC, or Mandatory Control Level RBC where:
(A)
"Company Action Level RBC" means, with respect to any health care center, the
product of 2.0 and its Authorized Control Level RBC;
(B) "Regulatory Action Level RBC" means the
product of 1.5 and its Authorized Control Level RBC;
(C) "Authorized Control Level RBC" means the
number determined under the risk-based capital formula in accordance with the
RBC Instructions; and
(D)
"Mandatory Control Level RBC" means the product of .70 and the Authorized
Control Level RBC;
(11)
"RBC plan" means a comprehensive financial plan containing the elements
specified in section
38a-193-3(b)
of the Regulations of Connecticut State Agencies. If the commissioner rejects
the RBC plan, and it is revised by the health care center, with or without the
commissioner's recommendation, the plan shall be called the "revised RBC
plan;"
(12) "RBC report" means the
report required in section
38a-193-2 of the
Regulations of Connecticut State Agencies; and
(13) "Total adjusted capital" means the sum
of: a health care center's statutory capital and surplus and such other items,
if any, as the RBC instructions may provide.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.