Current through Register Vol. 60, No. 12, December 1, 2021
As used in OAR 410-141-5195 to 410-141-5220:
(1) "Authorized Control Level RBC" means the
number determined under the risk-based capital formula in accordance with the
Action Level RBC" means, with respect to any CCO, the product of 2.0 (200%) and
the CCO's Authorized Control Level RBC.
(3) "Corrective Order" means an order entered
by the Authority under OAR 410-141-5310 to OAR 410-141-5320 specifying
corrective actions the Authority determines are required of a CCO in respect of
its Total Adjusted Capital and its RBC Level.
(4) "Mandatory Control Level RBC" means the
product of .70 (70%) and the CCO's authorized control level RBC.
(5) "RBC Instructions" means the RBC Report
form and including risk-based capital instructions adopted by the NAIC, as such
form and instructions may be amended by the NAIC from time to time.
(6) "RBC Level" means a CCO's Company Action
Level RBC, Regulatory Action Level RBC, Authorized Control Level RBC or
Mandatory Control Level RBC.
"RBC Plan" means a comprehensive financial plan containing the elements
specified in OAR 410-141-5295 to 410-141-5320. If the Authority rejects the RBC
Plan and it is revised by the CCO with or without the Authority's
recommendation, the plan shall be called the "revised RBC Plan."
(8) "RBC Report" means the report required by
Action Level RBC" means the product of 1.5 (150%) and the CCO's Authorized
Control Level RBC.
Adjusted Capital" means the sum of:
CCO's capital and surplus as determined in accordance with the statutory
accounting applicable to the annual financial statements required to be filed
under OAR 410-141-5015; and
Such other items, if any, as the RBC instructions may provide.