New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter IV - Financial Condition Of Insurer and Reports to Superintendent › Subchapter B - Life Insurers › Part 91 - Allocation Of Income (receipts) And Expenses › Section 91.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
Wherever used in this Part, the following terms shall have
					 the respective meanings hereinafter set forth or indicated, unless the context
					 otherwise requires:
(a)
Lines
				  of business
means such classifications of insurance business by line,
				  class, type of policy and/or contract, or groups thereof, as are warranted in
				  application of sections 4216, 4224, 4231, 4235, 4238 and 4239  of the Insurance
				  Law to the outstanding insurance obligations of a life insurer.
(b)
Annual statement lines of
				  business
means those lines of business as to which reporting is
				  required on page five of the form of annual statement approved by the
				  superintendent for use by life insurers licensed to do business in the State of
				  New York.
(c)
Major annual
				  statement lines of business
means the following annual statement lines
				  of business:
Annual statement line of
								  business
Column on page 6 of annual
								  statement
Industrial life
(2)
Ordinary
(3), (4), (5)
Credit life (group and individual)
(6)
Group life
(7)
Group annuities
(8)
Group accident and health
(9)
Credit (group and individual) accident and
								health
(10)
Other accident and health
(11)
Incidental benefits:
Include incidental
					 benefits such as total and permanent disability (including both waiver of
					 premium and disability income benefits), accidental death benefits, accidental
					 death and dismemberment benefits, etc., in the same columns as the contracts
					 with which they are associated.
(d)
Secondary annual statement lines
				  of business
means the following annual statement lines of business:
Annual statement line of
								  business
Column on page 6 of annual
								  statement
Life insurance
(3)
Individual annuities
(4)
Supplementary contracts
(5)
Incidental benefits:
Include incidental
					 benefits such as total and permanent disability (including both waiver of
					 premium and disability income benefits), accidental death benefits, accidental
					 death and dismemberment benefits, etc., in the same columns as the contracts
					 with which they are associated.
(e)
Investment year method
means a procedure for distributing net investment income which recognizes
				  year-by-year variations in the yield on new investments.
(f)
Department
means any
				  administrative unit, such as a division, bureau, section, team or branch office
				  used in a departmental cost analysis.
(g)
Operating department
means an organizational unit directly engaged in production or servicing of
				  policies, or investment activities,
e.g.
, policy issue, policy
				  loan, selection, premium collection, etc., as distinguished from a "service
				  department" which performs work for other departments, such as mail, supply,
				  personnel, etc.
(h)
Service
				  department
has the meaning assigned to it in the definition of
				  operating department.
(i)
Activity
means the work, or one of several lines of work,
				  carried on within any unit or organizational subdivision of the
				  company.
(j)
Cost
means all expenditures incurred in terms of salaries, wages and other expenses,
				  and includes taxes, licenses and fees.
(k)
Time ratios
mean the
				  proportion of total clerical working time devoted to each subdivision of work
				  in an organizational unit.
(l)
Salary ratios
means ratios obtained by weighting the time
				  ratios of individual clerks by the amount of their salary.