The term “affiliate” means, with respect to an insured, any entity that controls, is controlled by, or is under common control with the insured.
The term “affiliated group” means any group of entities that are all affiliated.
If more than 1 insured from an affiliated group are named insureds on a single nonadmitted insurance contract, the term “home State” means the home State, as determined pursuant to subparagraph (A), of the member of the affiliated group that has the largest percentage of premium attributed to it under such insurance contract.
The term “NAIC” means the National Association of Insurance Commissioners or any successor entity.
The term “premium tax” means, with respect to surplus lines or independently procured insurance coverage, any tax, fee, assessment, or other charge imposed by a government entity directly or indirectly based on any payment made as consideration for an insurance contract for such insurance, including premium deposits, assessments, registration fees, and any other compensation given in consideration for a contract of insurance.
The term “reinsurance” means the assumption by an insurer of all or part of a risk undertaken originally by another insurer.