{"data":{"id":"us-la/rs-22-611","jurisdiction":"us-la","citation":"RS 22:611","heading":"Definitions","body":"As used in this Subpart, the following terms shall have the following meanings:\n(1) \"Adjusted risk-based report\" means a risk-based capital report which has been adjusted by the department in accordance with R.S. 22:612(C).\n(2) \"Corrective order\" means an order issued by the department specifying corrective actions which are required.\n(3) \"Life or health and accident insurer\" means any insurance company possessing a certificate of authority in the state that issues the kind of insurance listed in R.S. 22:47(1) or (2) or a property and casualty insurer possessing a certificate of authority in the state that issues only health and accident insurance as specified in R.S. 22:47(2).\n(4) \"NAIC\" means the National Association of Insurance Commissioners.\n(5) \"Negative trend\" shall have that meaning, with respect to a life and/or health insurer, as determined in accordance with the trend test calculation included in the risk-based capital instructions.\n(6) \"Property and casualty insurer\" means any insurance company possessing a certificate of authority in the state that issues insurance other than the kinds specified in R.S. 22:47(1), (2), and (9).\n(7) \"Risk-based capital instructions\" means the risk-based capital report including risk-based capital instructions adopted by the NAIC, as such risk-based capital instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC.\n(8) \"Risk-based capital level\" means an action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital of an insurer where:\n(a) \"Authorized-control level risk-based capital\" means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions.\n(b) \"Company-action level risk-based capital\" means two hundred percent of a company's authorized control level risk-based capital.\n(c) \"Mandatory-control level risk-based capital\" means seven-tenths of a company's authorized control level risk-based capital.\n(d) \"Regulatory-action level risk-based capital\" means one hundred fifty percent of a company's authorized control level risk-based capital.\n(9) \"Risk-based capital plan\" means a comprehensive financial plan containing the requirements of R.S. 22:613(B). If the department rejects a risk-based capital plan, and it is revised by the insurer, with or without the recommendation of the department, the plan shall be designated a revised risk-based capital plan.\n(10) \"Risk-based capital report\" means the report required pursuant to R.S. 22:612.\n(11) \"Total adjusted capital\" means the sum of:\n(a) An insurer's statutory capital and surplus.\n(b) Such other items, if any, as required by Paragraph (7) of this Section.","path":["SUBPART C-1. PHARMACY BENEFIT MANAGERS§1863. Definitions","SUBPART C. RISK-BASED CAPITAL FOR DOMESTIC INSURERS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=507251","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:54:06Z","sha256":"c899b101910664f3344be36bb99c01a35548145dd7729765d9cd9f81d740b75f","source_id":"us-la","stale":false,"prev":"us-la/rs-22-601.21","next":"us-la/rs-22-612"},"notice":"GroundRules: Original legal text. Not legal advice."}