Terms Used In Delaware Code > Title 18 > Chapter 34 - Medicare Supplement Insurance Minimum Standards

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized Control Level RBC: means the number determined under the risk-based capital formula in accordance with the RBC Instructions;

  d. See Delaware Code Title 18 Sec. 5801

• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Company Action Level RBC: means , with respect to any insurer, the product of 2. See Delaware Code Title 18 Sec. 5801
• Contract: A legal written agreement that becomes binding when signed.
• Corrective order: means an order issued by the Commissioner specifying corrective actions which the Commissioner has determined are required. See Delaware Code Title 18 Sec. 5801
• Domestic insurer: means any insurance company domiciled in this State, except insurers not doing business with citizens or residents of the United States or organized or located within the United States. See Delaware Code Title 18 Sec. 5801
• Fraud: Intentional deception resulting in injury to another.
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mandatory Control Level RBC: means the product of . See Delaware Code Title 18 Sec. 5801
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NAIC: means the National Association of Insurance Commissioners. See Delaware Code Title 18 Sec. 5801
• Negative trend: means , with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions. See Delaware Code Title 18 Sec. 5801
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Property and casualty insurer: means any insurance company licensed under § 516 of this title, but shall not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers. See Delaware Code Title 18 Sec. 5801
• 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. See Delaware Code Title 18 Sec. 5801
• RBC plan: means a comprehensive financial plan containing the elements specified in § 5803(b) of this title. See Delaware Code Title 18 Sec. 5801
• RBC report: means the report required in § 5802 of this title. See Delaware Code Title 18 Sec. 5801
• Regulatory Action Level RBC: means the product of 1. See Delaware Code Title 18 Sec. 5801
• Statute: A law passed by a legislature.
• Total adjusted capital: means the sum of:

  a. See Delaware Code Title 18 Sec. 5801

• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302