HR 1065 RFS
(5) NAIC.—The term ‘‘NAIC’’ means the Na-
tional Association of Insurance Commissioners or 
any successor entity. 
(6) NONADMITTED
INSURANCE.—The term 
‘‘nonadmitted insurance’’ means any property and 
casualty insurance permitted to be placed directly or 
through a surplus lines broker with a nonadmitted 
insurer eligible to accept such insurance. 
(7) NON-ADMITTED INSURANCE MODEL ACT.— 
The term ‘‘Non-Admitted Insurance Model Act’’ 
means the provisions of the Non-Admitted Insurance 
Model Act, as adopted by the NAIC on August 3, 
1994, and amended on September 30, 1996, Decem-
ber 6, 1997, October 2, 1999, and June 8, 2002. 
(8) NONADMITTED INSURER.—The term ‘‘non-
admitted insurer’’ means, with respect to a State, an 
insurer not licensed to engage in the business of in-
surance in such State. 
(9) QUALIFIED
RISK
MANAGER.—The term 
‘‘qualified risk manager’’ means, with respect to a 
policyholder of commercial insurance, a person who 
meets all of the following requirements: 
(A) The person is an employee of, or third 
party consultant retained by, the commercial 
policyholder. 
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(B) The person provides skilled services in 
loss prevention, loss reduction, or risk and in-
surance coverage analysis, and purchase of in-
surance. 
(C) The person— 
(i)(I) has a bachelor’s degree or high-
er from an accredited college or university 
in risk management, business administra-
tion, finance, economics, or any other field 
determined by a State insurance commis-
sioner or other State regulatory official or 
entity to demonstrate minimum com-
petence in risk management; and 
(II)(aa) has three years of experience 
in risk financing, claims administration, 
loss prevention, risk and insurance anal-
ysis, or purchasing commercial lines of in-
surance; or 
(bb) has one of the following designa-
tions: 
(AA) a designation as a Char-
tered Property and Casualty Under-
writer (in this subparagraph referred 
to as ‘‘CPCU’’) issued by the Amer-
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ican Institute for CPCU/Insurance In-
stitute of America; 
(BB) a designation as an Asso-
ciate in Risk Management (ARM) 
issued by the American Institute for 
CPCU/Insurance Institute of America; 
(CC) a designation as Certified 
Risk Manager (CRM) issued by the 
National Alliance for Insurance Edu-
cation & Research; 
(DD) a designation as a RIMS 
Fellow (RF) issued by the Global Risk 
Management Institute; or 
(EE) any other designation, cer-
tification, or license determined by a 
State insurance commissioner or other 
State insurance regulatory official or 
entity to demonstrate minimum com-
petency in risk management; 
(ii)(I) has at least seven years of ex-
perience in risk financing, claims adminis-
tration, loss prevention, risk and insurance 
coverage analysis, or purchasing commer-
cial lines of insurance; and 
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