Chapter 1 Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances
Chapter 2 Other Casualty Insurers on Reserve Basis; Capital Requirements and Permitted Insurances
Chapter 3 Group and Individual Plans for Legal Insurance

Terms Used In California Codes > Insurance Code > Division 2 > Part 4 - MISCELLANEOUS CASUALTY INSURANCES

  • Affiliate: means a person that, directly or indirectly, owns at least 10 but less than 50 percent of the financial guaranty insurance corporation or that is at least 10 percent but less than 50 percent, directly or indirectly, owned by a financial guaranty insurance corporation. See California Insurance Code 12100
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Ancillary benefit plan: means a policy or contract written or administered by a participating carrier that covers dental or vision benefits for the covered eligible employees of an employer or small employer and their dependents. See California Insurance Code 10810
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Asset-backed securities: means either of the following:

    California Insurance Code 12100

  • Authority: means the California Health Facilities Financing Authority established pursuant to Section 15431 of the Government Code. See California Health and Safety Code 1179.51
  • Average annual debt service: means the amount of insured unpaid principal and interest on an obligation multiplied by the number of the insured obligations (assuming that each obligation represents a $1,000 par value), divided by the amount equal to the aggregate life of all of those obligations. See California Insurance Code 12100
  • Board: means the governing body of the purchasing alliance. See California Insurance Code 10810
  • business: includes a proprietorship, partnership, corporation, and any other form of commercial enterprise. See California Vehicle Code 234
  • Carrier: means any licensed disability insurance company or licensed health care service plan or any other entity that writes, issues, or administers any health benefit plan or ancillary benefit plan to employers or small employers in this state. See California Insurance Code 10810
  • Casualty broker-agent: means a person licensed pursuant to Section 1625. See California Insurance Code 33.5
  • Catastrophic disaster: means an event that results in large numbers of deaths and injuries. See California Insurance Code 15001
  • Child care and development programs: means those programs that offer a full range of services for children from infancy to 13 years of age, for any part of a day, by a public or private agency, in centers and family child care homes. See California Education Code 8208
  • City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
  • Collateral: means any of the following:

    California Insurance Code 12100

  • Commercial real estate: means income-producing real property other than residential property consisting of less than five units. See California Insurance Code 12100
  • Commission: means the Public Utilities Commission created by Section 1 of Article XII of the California Constitution, and "commissioner" means a member of the commission. See California Public Utilities Code 20
  • Commissioner: means the Insurance Commissioner. See California Insurance Code 14001
  • Commissioner: means the Insurance Commissioner. See California Insurance Code 15001
  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Commissioner: means the Insurance Commissioner, who shall have regulatory jurisdiction over purchasing alliances. See California Insurance Code 10810
  • Committee: means the Children's Hospital Bond Act Finance Committee created pursuant to Section 1179. See California Health and Safety Code 1179.51
  • Contingency reserve: means an additional liability reserve established to protect policyholders against the effects of adverse economic cycles or other unforeseen circumstances. See California Insurance Code 12100
  • County: includes city and county. See California Health and Safety Code 14
  • County: includes "city and county. See California Insurance Code 14
  • County: includes "city and county. See California Code of Civil Procedure 17
  • County: includes city and county. See California Public Utilities Code 18
  • Credit default swap: means an agreement referencing credit derivative definitions published from time to time by the International Swap and Derivatives Association, Inc. See California Insurance Code 12100
  • Dealer: is a person not otherwise expressly excluded by Section 286 who:

    California Vehicle Code 285

  • Department: means the Department of Insurance. See California Insurance Code 14001
  • Department: means the Department of Insurance. See California Insurance Code 15001
  • Department: means the Department of Motor Vehicles except, when used in Chapter 2 (commencing with Section 2100) of Division 2 and in Divisions 11 (commencing with Section 21000), 12 (commencing with Section 24000), 13 (commencing with Section 29000), 14 (commencing with Section 31600), 14. See California Vehicle Code 290
  • department: means the State Department of Health Care Services and "director" means the Director of Health Care Services. See California Health and Safety Code 11752
  • Devise: To gift property by will.
  • Director: means "State Director of Health Services. See California Health and Safety Code 21
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • driver: is a person who drives or is in actual physical control of a vehicle. See California Vehicle Code 305
  • Eligible employee: means any permanent employee who is actively engaged on a full-time basis in the conduct of business of the employer or small employer and, who has satisfied any employer or small employer waiting period requirements. See California Insurance Code 10810
  • Employer: means any corporation, partnership, sole proprietorship, or other business entity doing business in this state that may be eligible to participate in a purchasing alliance. See California Insurance Code 10810
  • Excess spread: means , with respect to any insured issue of asset-backed securities, the excess of (A) the scheduled cashflow on the underlying assets that is reasonably projected to be available, over the term of the insured securities after payment of the expenses associated with the insured issue, to make debt service payments on the insured securities over (B) the scheduled debt service requirements on the insured securities, provided that this excess is held in the same manner as collateral is required to be held under subdivision (e). See California Insurance Code 12100
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Financial guaranty insurance: means a surety bond, an insurance policy or, when issued by an insurer, an indemnity contract and any guarantee similar to the foregoing types, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of any of the following events:

    California Insurance Code 12100

  • Financial guaranty insurance corporation: means an insurer transacting financial guaranty insurance. See California Insurance Code 12100
  • Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
  • Fraud: Intentional deception resulting in injury to another.
  • Fund: means the Children's Hospital Bond Act Fund created pursuant to Section 1179. See California Health and Safety Code 1179.51
  • Governmental unit: means a state, territory, or possession of the United States of America, the District of Columbia, the country of Canada, a province of Canada, the United Kingdom, a public authority of the United Kingdom, a member country of the Organization for Economic Co-operation and Development having a sovereign rating in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the commissioner, a municipality, or a political subdivision of any of the foregoing, or any public agency or instrumentality thereof. See California Insurance Code 12100
  • Health benefit plan: means a policy or contract written or administered by a participating carrier that arranges or provides health care benefits for the covered eligible employees of an employer or small employer and their dependents. See California Insurance Code 10810
  • Insurable risk: means that the obligation on an uninsured basis has been determined to be not less than investment grade. See California Insurance Code 12100
  • Investment grade: means that the obligation or parity obligation of the same issuer is rated in one of the top four generic lettered rating classifications by a securities rating agency acceptable to the commissioner, that the obligation or parity obligation of the same issuer, without regard to financial guaranty insurance, has been identified in writing by that rating agency as an insurable risk deemed to be of investment grade quality, or that the obligation or parity obligation of the same issuer has been determined to be investment grade (as indicated by a category 1 or 2 rating) by the Securities Valuation Office of the National Association of Insurance Commissioners. See California Insurance Code 12100
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Licensee: means a person licensed under this chapter. See California Insurance Code 14001
  • Licensee: means a person licensed under this chapter. See California Insurance Code 15001
  • licensee: means an insurer, agent, broker, or any other person who is required to be licensed by the department. See California Insurance Code 38.6
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Management company: means the company under contract to the purchasing alliance to provide managerial services for the operation of the purchasing alliance. See California Insurance Code 10810
  • Manager: means the individual under whose direction, control, charge, or management the business of a licensee is operated. See California Insurance Code 14001
  • Mortgage: includes a trust deed, "mortgagor" includes a trustor under such trust deed, "mortgagee" includes a beneficiary under such trust deed, or a trustee exercising powers or performing duties granted to or imposed upon him thereunder, and "lien" in respect to real or personal property includes a charge or incumbrance arising out of a trust deed. See California Insurance Code 29
  • motor vehicle: includes a recreational vehicle as that term is defined in subdivision (a) of Section 18010 of the Health and Safety Code, but does not include a truck camper. See California Vehicle Code 415
  • Municipal bonds: means municipal obligation bonds and special revenue bonds. See California Insurance Code 12100
  • narcotic and drug abuse program: means any program that provides any service of care, treatment, rehabilitation, counseling, vocational training, self-improvement classes or courses, narcotic replacement therapy in maintenance or detoxification treatment, or other medication services for detoxification and treatment, and any other services that are provided either public or private, whether free of charge or for compensation, which services are intended in any way to alleviate the problems of narcotic addiction or habituation or drug abuse addiction or habituation or any problems in whole or in part related to the problem of narcotics addiction or drug abuse, or any combination of these problems. See California Health and Safety Code 11842
  • owner: is a person having all the incidents of ownership, including the legal title of a vehicle whether or not such person lends, rents, or creates a security interest in the vehicle. See California Vehicle Code 460
  • Parent: means a person that, directly or indirectly, owns at least 50 percent of a financial guaranty insurance corporation. See California Insurance Code 12100
  • Participating carrier: means a carrier that contracts with a purchasing alliance to provide coverage to enrollees under a health benefit plan or ancillary benefit plan. See California Insurance Code 10810
  • Person: includes any individual, firm, company, association, organization, partnership, limited liability company, and corporation. See California Insurance Code 15001
  • Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
  • Person: includes a natural person, firm, copartnership, association, limited liability company, or corporation. See California Vehicle Code 470
  • Person: includes any individual, firm, company, association, organization, partnership, limited liability company, and corporation. See California Insurance Code 14001
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Program: means the Children's Hospital Program established pursuant to this part. See California Health and Safety Code 1179.51
  • Property: includes both personal and real property. See California Code of Civil Procedure 17
  • Purchasing alliance: means a non-risk-bearing entity issued a certificate of registration pursuant to this chapter to provide health benefits through multiple unaffiliated participating carriers to multiple participating employers, small employers and their employees within this state as authorized by the commissioner. See California Insurance Code 10810
  • Reinsurance: means cessions qualifying for credit under Section 12121. See California Insurance Code 12100
  • Resident: means residing in this State, "nonresident" means not residing in this State. See California Insurance Code 30
  • secured: means any of the following:

    California Insurance Code 12100

  • semitrailer: is a vehicle designed for carrying persons or property, used in conjunction with a motor vehicle, and so constructed that some part of its weight and that of its load rests upon, or is carried by, another vehicle. See California Vehicle Code 550
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
  • State: includes the District of Columbia and the territories when applied to the different parts of the United States, and the words "United States" may include the district and territories. See California Code of Civil Procedure 17
  • State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
  • Subsidiary: means a person that, directly or indirectly, is at least 50 percent owned by a financial guaranty insurance corporation. See California Insurance Code 12100
  • Third-party administrator: means the company contracted by the purchasing alliance to provide administrative services for the purchasing alliance and that is licensed to provide those services by the department pursuant to Section 1759. See California Insurance Code 10810
  • transporter: is a person engaged in the business of moving any owned or lawfully possessed vehicle by lawful methods over the highways for the purpose of delivery of such vehicles to dealers, sales agents of a manufacturer, purchasers, or to a new location as requested by the owner. See California Vehicle Code 645
  • vehicle: is a device by which any person or property may be propelled, moved, or drawn upon a highway, excepting a device moved exclusively by human power or used exclusively upon stationary rails or tracks. See California Vehicle Code 670