Source: https://development.code.dccouncil.us/dc/council/code/sections/31-3451.01.html
Timestamp: 2019-04-21 08:33:50+00:00

Document:
D.C. Law Library - § 31–3451.01. Definitions.
Chapter 34A. Health Organizations RBC.
(1) “Adjusted RBC report” means an RBC report which has been adjusted by the Commissioner in accordance with § 31-3451.02(c).
(E) If the health organization has challenged a corrective order under § 31-3451.07 and the Commissioner has, after a hearing, rejected the challenge or modified the corrective order, the failure of the health organization to respond, in a manner satisfactory to the Commissioner, to the corrective order subsequent to rejection or modification by the Commissioner.
(3) “Authorized Control Level RBC” means the amount of capital required under the risk-based capital formula in accordance with the RBC Instructions.
(4) “Commissioner” means Commissioner of the Department of Insurance and Securities Regulation.
(C) If, under § 31-3451.07, a health organization challenges an adjusted RBC report described in subparagraph (A) of this paragraph, the notification by the Commissioner to the health organization that the Commissioner has, after a hearing, rejected the health organization’s challenge.
(6) “Company Action Level RBC” means the Authorized Control Level RBC multiplied by a factor of 2.
(7) “Corrective order” means an order issued by the Commissioner specifying corrective actions.
(8) “District” means the District of Columbia.
(9) “Domestic health organization” means a health organization domiciled in the District.
(10) “Foreign health organization” means a health organization that is licensed to do business, but is not domiciled, in the District.
(11) “Health organization” means a health maintenance organization, hospital and medical indemnity or service corporation, or other managed care organization licensed under Chapter 34 of this title or Chapter 35 of this title. The term “health organization” shall not include an organization that is licensed as either a life and health insurer or a property and casualty insurer and that is otherwise subject to either the life or property and casualty RBC requirements.
(C) If, under § 31-3451.07, the health organization challenges an adjusted RBC report described in subparagraph (A) of this paragraph, notification by the Commissioner to the health organization that the Commissioner has, after a hearing, rejected the health organization’s challenge.
(13) “Mandatory Control Level RBC” means the required Authorized Control Level RBC multiplied by a factor of 0.7.
(14) “NAIC” means the National Association of Insurance Commissioners.
(15) “RBC instructions” means the instructions for the RBC report, including risk-based capital instructions adopted by the NAIC, as these RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC.
(16) “RBC level” means a health organization’s Company Action Level RBC, Regulatory Action Level RBC, Authorized Control Level RBC, or Mandatory Control Level RBC.
(17) “RBC plan” means a comprehensive financial plan containing the elements specified in § 31-3451.03(a).
(18) “RBC report” means the report required by § 31-3451.02.
(I) If, under § 31-3451.07, the health organization challenges a determination by the Commissioner under subparagraph (H) of this paragraph, the notification by the Commissioner to the health organization that the Commissioner has, after a hearing, rejected the challenge.
(20) “Regulatory Action Level RBC” means the Authorized Control Level RBC multiplied by a factor of 1.5.
(21) “Revised RBC plan” means, if the Commissioner rejects the RBC plan, the RBC plan as revised by the health organization, with or without the Commissioner’s consent.
(B) Such other items, if any, as the RBC instructions may require.
This section is referenced in § 31-311.03 and § 31-3451.13.
D.C. Law 15-354, in par. (11), validated a previously made technical correction.

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