31 Pa. Code § 90j.1 - Definitions
Actuarial method-The methodology used to determine the required level of primary security, as described in § 90j.6 (relating to actuarial method).
Non-covered policies-A policy that does not meet the definition of covered policies.
Other security-A security acceptable to the Commissioner other than security meeting the definition of primary security.
Primary security-The following forms of security:
RBC-Risk-based capital-The minimum level of capital required for an insurer to support its operations and write coverage as set forth in Article V-A of The Insurance Department Act of 1921 (40 P.S. §§ 221.1-A-221.15-A).
Required level of primary security-The dollar amount determined by applying the actuarial method to the risks ceded with respect to covered policies, but not more than the total reserve ceded.
VM-20-Requirements for principle-based reserves for life products, including all relevant definitions, from the Valuation Manual.
Valuation Manual-The Valuation Manual adopted by the NAIC as described in section 11B(1) of the standard valuation law, with all amendments adopted by the NAIC that are effective for the financial statement date on which credit for reinsurance is claimed, and which had an operative date of January 1, 2017, under 40 Pa.C.S. § 7104 (relating to notice regarding operative date of valuation manual) with public notice published at 46 Pa.B. 5867 (September 10, 2016).
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