US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 54
                  RISK-BASED CAPITAL (RBC) FOR INSURERS ACT
    41-5401.  DEFINITIONS. As used in this chapter, these terms shall have the
following meanings:
    (1)  "Adjusted RBC report" means an RBC report which has been adjusted by
the director in accordance with section 41-5402(5), Idaho Code.
    (2)  "Corrective order" means an order issued by the director specifying
corrective actions which the director has determined are required.
    (3)  "Domestic insurer" means any insurance company domiciled in this
state.
    (4)  "Foreign insurer" means any insurance company which is licensed to do
business in this state under section 41-322, Idaho Code, but is not domiciled
in this state.
    (5)  "Life and/or health insurer" means any insurance company licensed
under chapter 3, title 41, Idaho Code, to transact life, accident and/or
health insurance, or a licensed property and casualty insurer writing only
accident and health insurance, but shall not include fraternal benefit
societies, health service organizations, dental service organizations, health
maintenance organizations, dental plan organizations or mutual benefit
associations.
    (6)  "NAIC" means the national association of insurance commissioners.
    (7)  "Negative trend" means, with respect to a life and/or health insurer,
a negative trend over a period of time, as determined in accordance with the
"Trend Test Calculation" included in the RBC instructions.
    (8)  "Property and casualty insurer" means any insurance company licensed
under chapter 3, title 41, Idaho Code, to transact property and casualty
insurance, but shall not include monoline mortgage guaranty insurers,
financial guaranty insurers, title insurers, farm and county mutuals, health
service organizations, dental service organizations, health maintenance
organizations, dental plan organizations or domestic reciprocal insurers with
fewer than seven (7) subscribers which insure only worker's compensation risk
and which only issue fully assessable policies.
    (9)  "RBC" means risk-based capital.
    (10) "RBC instructions" means the RBC report, including risk-based capital
instructions adopted by the NAIC, as such RBC instructions may be amended by
the NAIC from time to time in accordance with the procedures adopted by the
NAIC.
    (11) "RBC level" means an insurer's company action level RBC, regulatory
action level RBC, authorized control level RBC, or mandatory control level RBC
where:
    (a)  "Authorized control level RBC" means the number determined under the
    risk-based capital formula in accordance with the RBC instructions;
    (b)  "Company action level RBC" means, with respect to any insurer, the
    product of 2.0 and its authorized control level RBC;
    (c)  "Mandatory control level RBC" means the product of .70 and the
    authorized control level RBC;
    (d)  "Regulatory action level RBC" means the product of 1.5 and its
    authorized control level RBC.
    (12) "RBC plan" means a comprehensive financial plan containing the
elements specified in section 41-5403(2), Idaho Code. If the director rejects
the RBC plan, and it is revised by the insurer, with or without the director's
recommendation, the plan shall be called the "revised RBC plan."
    (13) "RBC report" means the report required in section 41-5402, Idaho
Code.
    (14) "Total adjusted capital" means the sum of:
    (a)  An insurer's statutory capital and surplus as determined in
    accordance with the statutory accounting applicable to the annual
    financial statements required to be filed under section 41-335, Idaho
    Code; and
    (b)  Such other items, if any, as the RBC instructions may provide.