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.

Source: Rule 836-011-0305 — Definitions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-011-0305.

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