Nebraska Statutes 44-6011. Risk-based capital level, defined
Risk-based capital level means an insurer‘s or a health organization‘s company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital. For purposes of this section:
Terms Used In Nebraska Statutes 44-6011
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Authorized control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Nebraska Statutes 44-6011
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Health organization: means a health maintenance organization, prepaid limited health service organization, prepaid dental service corporation, or other managed care organization. See Nebraska Statutes 44-6007.02
- Insurer: means an insurer as defined in section 44-103 authorized to transact the business of insurance, except that insurer does not include health organizations, unincorporated mutual associations, assessment associations, health maintenance organizations, prepaid dental service corporations, prepaid limited health service organizations, monoline mortgage guaranty insurers, monoline financial guaranty insurers, title insurers, prepaid legal corporations, intergovernmental risk management pools, and any other kind of insurer to which the application of the Insurers and Health Organizations Risk-Based Capital Act, in the determination of the director, would be clearly inappropriate. See Nebraska Statutes 44-6008
- Mandatory control level risk-based capital: means the product of 0. See Nebraska Statutes 44-6011
- Regulatory action level risk-based capital: means the product of 1. See Nebraska Statutes 44-6011
- Risk-based capital instructions: means the risk-based capital report, including risk-based capital instructions adopted by the National Association of Insurance Commissioners, as such instructions may be amended by the association from time to time in accordance with the procedures adopted by the association. See Nebraska Statutes 44-6010
- Risk-based capital level: means an insurer's or a health organization's company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital. See Nebraska Statutes 44-6011
(1) Authorized control level risk-based capital means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions;
(2) Company action level risk-based capital means, with respect to any insurer or health organization, the product of 2.0 and its authorized control level risk-based capital;
(3) Mandatory control level risk-based capital means the product of 0.7 and the authorized control level risk-based capital; and
(4) Regulatory action level risk-based capital means the product of 1.5 and its authorized control level risk-based capital.