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S.B. 60
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VETOES
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(I) IS AUTHORIZED TO WRITE PROPERTY INSURANCE OR
CASUALTY INSURANCE IN THE STATE; AND
(II) RECEIVES THE MAJORITY OF ITS PREMIUM FROM THE SALE OF
PROPERTY INSURANCE OR CASUALTY INSURANCE.
(2) "PROPERTY AND CASUALTY INSURER" DOES NOT INCLUDE:
(I) A HEALTH MAINTENANCE ORGANIZATION OPERATING UNDER
A CERTIFICATE OF AUTHORITY ISSUED BY THE COMMISSIONER UNDER TITLE 19,
SUBTITLE 7 OF THE HEALTH - GENERAL ARTICLE;
(II) A NONPROFIT HEALTH SERVICE PLAN OPERATING UNDER
TITLE 14, SUBTITLE 1 OF THIS ARTICLE;
(III) A DENTAL PLAN OPERATING UNDER TITLE 14, SUBTITLE 4 OF
THIS ARTICLE;
(IV) A PROVIDER-SPONSORED ORGANIZATION OPERATING UNDER
TITLE 19, SUBTITLE 7A OF THE HEALTH - GENERAL ARTICLE; OR
(V) A MANAGED CARE ORGANIZATION OPERATING UNDER TITLE 15,
SUBTITLE 1 OF THE HEALTH - GENERAL ARTICLE.
[(j)] (L) "Negative trend" means, with respect to a life insurer or health
insurer, negative trend over a period of time, as determined in accordance with the
"trend test calculation" included in the RBC instructions.
[(k)](M) "RBC instructions" means the risk based capital instructions
developed and adopted by the NAIC.
[(1)] (N) "RBC level" means an insurer's company action level RBC, regulatory
action level RBC, authorized control level RBC, or mandatory control level RBC if:
(1) "company action level RBC" means the product of 2.0 and the
authorized control level RBC;
(2) "regulatory action level RBC" means the product of 1.5 and the
authorized control level RBC;
(3) "authorized control level RBC" means the number determined under
the risk based capital formula in accordance with the RBC instructions; or
(4) "mandatory control level RBC" means the product of .70 and the
authorized control level RBC.
[(m)] (O) "RBC plan" means a comprehensive financial plan that contains the
elements specified in § 4-305(b) of this subtitle.
[(n)](P) "RBC report" means a report prepared by a domestic insurer and
submitted to the Commissioner that details the domestic insurer's RBC levels as of
the end of the immediately preceding calendar year.
[(o)] (Q) "Revised RBC plan" means an RBC plan that has been:
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- 3602 -
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