For the purposes of this article, the following definitions apply:

(a) “Corporate Governance Annual Disclosure (CGAD)” means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this article.

(b) “Insurance group” means those insurers and affiliates included within an insurance holding company system as defined in subdivision (e) of Section 1215 (Insurance Holding Company System Regulatory Act).

(c) “Insurer” has the same meaning as set forth in subdivision (f) of Section 1215, except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.

(d) An “ORSA Summary Report” means the report filed in accordance with subdivision (e) of Section 935.2.

(e) “Corporate Governance Annual Disclosure Model Regulation” means the current version of the Corporate Governance Annual Disclosure Model Regulation developed and adopted by the National Association of Insurance Commissioners (NAIC) and as amended from time to time. A change in the Corporate Governance Annual Disclosure Model Regulations shall be effective on the January 1 following the calendar year in which the changes have been adopted by the NAIC.

(Added by Stats. 2015, Ch. 213, Sec. 1. (AB 553) Effective August 17, 2015.)