Section 1: Definitions
402 words·~2 min read·
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Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:—
''Commissioner'', the commissioner of insurance.
''Corporate Governance Annual Disclosure (CGAD)'', a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter.
''Corporate Governance Annual Disclosure Model Regulation'', the current version of the Corporate Governance Annual Disclosure Model Regulation developed and adopted by the NAIC and as amended from time to time. A change in the Corporate Governance Annual Disclosure Model Regulation shall be effective on the January 1 following the calendar year in which the changes have been adopted by the NAIC.
''Division'', the division of insurance.
''Insurance group'', those insurers and affiliates included within an insurance holding company system as defined in section 206 of chapter 175; health maintenance organizations and affiliates included within a health maintenance organization holding company system, as defined in section 1 of chapter 176G; workers compensation self-insurance groups and their affiliates organized pursuant to sections 25E to 25U, inclusive, of chapter 152; fraternal benefit societies and their affiliates organized pursuant to chapter 176; non-profit hospital service corporations and their affiliates organized pursuant to chapter 176A; medical service corporations and their affiliates organized pursuant to chapter 176B; dental service corporations and their affiliates organized pursuant to chapter 176E; optometric service corporations and their affiliates organized pursuant to chapter 176F; insured legal services plans and their affiliates organized pursuant to chapter 176H; and limited societies and their affiliates organized pursuant to chapter 176P.
''Insurer'', the same meaning as in section 1 of chapter 175; workers compensation self-insurance groups organized pursuant to sections 25E to 25U, inclusive, of chapter 152; fraternal benefit societies organized pursuant to chapter 176; non-profit hospital service corporations organized pursuant to chapter 176A; medical service corporations organized pursuant to chapter 176B; dental services corporations organized pursuant to chapter 176E; optometric service corporations organized pursuant to chapter 176F; health maintenance organizations organized pursuant to chapter 176G; insured legal services plans organized pursuant to chapter 176H; and limited societies organized pursuant to chapter 176P; except that ''insurer'' shall not include agencies, authorities or instrumentalities of the United States, its possessions and territories, the commonwealth of Puerto Rico, the District of Columbia or a state or political subdivision of a state.
''NAIC'', the National Association of Insurance Commissioners.
''ORSA summary report'', the report filed in accordance with chapter 176V.