02-031 C.M.R. ch. 705, § 2 - Definitions

Current through 2022-14, April 6, 2022

1. "Domestic insurance carrier" means an insurance company, health maintenance organization, fraternal benefit society, nonprofit hospital or medical service organization, or nonprofit health plan domiciled in this State.
2. "Filing entity" means a domestic insurance carrier filing a CGAD or a parent entity filing a group-level CGAD on behalf of a domestic insurance carrier.
3. "Insurance group" means the insurance carriers and affiliates included within a domestic insurance carrier's insurance holding company system as defined in section 222, subsection 2, paragraph C.
4. "Intermediate holding company" means an entity, other than the ultimate controlling person, which exercises control over the management of an insurance group or intermediate insurance group.
5. "Intermediate insurance group" means a unit within an insurance group comprising some, but not all, of the insurance carriers within the group, which the group's lead state regulator has found to be operationally autonomous and has authorized to file a CGAD separately from other legal entities and intermediate insurance groups within the group.
6. "Senior management" means all corporate officers responsible for reporting information to the Board of Directors ("Board") at regular intervals or determining the information to be provided to shareholders or regulators. Senior management is presumed to include, without limitation, any executive with a "C-level" title such as Chief Executive Officer ("CEO"), Chief Financial Officer ("CFO"), Chief Operations Officer ("COO"), Chief Procurement Officer ("CPO"), Chief Legal Officer ("CLO"), Chief Information Officer ("CIO"), Chief Technology Officer ("CTO"), Chief Revenue Officer ("CRO"), or Chief Visionary Officer ("CVO").

Notes

02-031 C.M.R. ch. 705, § 2

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