OAR 836-011-0305
Definitions


As used in OAR 836-011-0300 (Statutory Authority; Statutes Implemented) to 836-011-0390 (Foreign Insurers):

(1)

“Adjusted RBC report” means a risk-based capital (RBC) report that has been adjusted by the Director in accordance with OAR 836-011-0310 (RBC Reports)(5).

(2)

“Corrective order” means an order issued by the Director specifying corrective actions that the Director has determined are required.

(3)

“NAIC” means the National Association of Insurance Commissioners.

(4)

“Life or health insurer” means an insurer transacting life insurance or health insurance or both or an insurer authorized to transact property and casualty insurance but writing only health insurance.

(5)

“Property and casualty insurer” means an insurer transacting property and casualty insurance, or either, but does not include an insurer transacting only monoline mortgage guaranty insurance, financial guaranty insurance or title insurance, or an insurer authorized to transact property and casualty insurance but writing only health insurance.

(6)

“Negative trend” means, with respect to a life or health insurer, negative trend over a period of time, as determined in accordance with the “trend test calculation” included in the RBC instructions.

(7)

“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 and identified by the Department of Consumer and Business Services to be applicable to the RBC report period. RBC instructions may be obtained by contacting the Insurance Division of the Department of Consumer and Business Services using the contact information provided on the Insurance Division website at: http://insurance.oregon.gov/Contactus.html .

(8)

“RBC level” means an insurer’s company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC, defined as follows:

(a)

“Company action level RBC” means, with respect to any insurer, the product of 2.0 and its authorized control level RBC;

(b)

“Regulatory action level RBC” means the product of 1.5 and its authorized control level RBC;

(c)

“Authorized control level RBC” means the number determined under the risk-based capital formula in accordance with the RBC instructions; and

(d)

“Mandatory control level RBC” means the product of .70 and the authorized control level RBC.

(9)

“RBC plan” means a comprehensive financial plan containing the elements specified in OAR 836-011-0320 (Company Action Level Event)(2). 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.”

(10)

“RBC report” means the report required in OAR 836-011-0310 (RBC Reports).

(11)

“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 ORS 731.574 (Annual financial statement); and

(b)

Such other items, if any, as the RBC instructions may provide.
836‑011‑0000
Annual Statement Blank and Instructions
836‑011‑0015
Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation
836‑011‑0020
Definitions
836‑011‑0022
Filing Procedures
836‑011‑0024
Contents of Corporate Governance Annual Disclosure
836‑011‑0030
Own Risk and Solvency Assessment
836‑011‑0050
Requirements for Segregation of Premium Received for Coverage Not Eligible for Federal Subsidies
836‑011‑0100
Authority
836‑011‑0110
Definitions
836‑011‑0120
Filing and Extensions for Filing of Annual Audited Financial Reports
836‑011‑0130
Exemptions
836‑011‑0140
Contents of Annual Audited Financial Report
836‑011‑0150
Designation of Independent Certified Public Accountant
836‑011‑0160
Qualifications of Independent Certified Public Accountant
836‑011‑0170
Consolidated or Combined Audits
836‑011‑0180
Scope of Audit and Report of Independent Certified Public Accountant
836‑011‑0190
Notification of Adverse Financial Condition
836‑011‑0200
Communication of Internal Control Related Matters Noted in an Audit
836‑011‑0210
Accountant’s Letter of Qualifications
836‑011‑0220
Definition, Availability and Maintenance of Independent Certified Public Accountants Workpapers
836‑011‑0223
Requirements for Audit Committee
836‑011‑0224
Internal Audit Function Requirements
836‑011‑0225
Conduct of Insurer in Connection with the Preparation of Required Reports and Documents
836‑011‑0227
Management’s Report of Internal Control over Financial Reporting
836‑011‑0230
Canadian and British Companies
836‑011‑0235
Effective Dates
836‑011‑0250
Authority
836‑011‑0253
Definitions
836‑011‑0255
Reserve Adequacy
836‑011‑0258
Unallocated Reserve Account
836‑011‑0260
Distribution of Annual Financial Statement
836‑011‑0300
Statutory Authority
836‑011‑0305
Definitions
836‑011‑0310
RBC Reports
836‑011‑0320
Company Action Level Event
836‑011‑0330
Regulatory Action Level Event
836‑011‑0340
Authorized Control Level Event
836‑011‑0350
Mandatory Control Level Event
836‑011‑0360
Hearings
836‑011‑0380
Supplemental Provisions
836‑011‑0390
Foreign Insurers
836‑011‑0430
Scope and Authority
836‑011‑0440
Report
836‑011‑0450
Acquisitions and Dispositions of Assets
836‑011‑0460
Nonrenewals, Cancellations or Revisions of Ceded Reinsurance Agreements
836‑011‑0500
Application
836‑011‑0505
Definitions
836‑011‑0510
RBC Reports
836‑011‑0515
Company Action Level Event
836‑011‑0520
Regulatory Action Level Event
836‑011‑0525
Authorized Control Level Event
836‑011‑0530
Mandatory Control Level Event
836‑011‑0535
Hearings
836‑011‑0540
Supplemental Provisions
836‑011‑0545
Foreign Health Care Service Contractors
836‑011‑0600
Report on Services Provided by Expanded Practice Dental Hygienists
Last Updated

Jun. 8, 2021

Rule 836-011-0305’s source at or​.us