South Carolina Code 38-13-1010. Definitions
(1) "Corporate Governance Annual Disclosure" or "CGAD" means a confidential report filed by an insurer or insurance group made in accordance with the requirements of this article.
Terms Used In South Carolina Code 38-13-1010
- Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
- insurance: includes annuities. See South Carolina Code 38-1-20
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
(2) "Director" means the Director of the Department of Insurance or his designee.
(3) "Insurance group" means insurers and affiliates included within an insurance holding company system as defined in § 38-21-10.
(4) "Insurer" has the same meaning as set forth in § 38-1-20, except the term does 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.
(5) "NAIC" means the National Association of Insurance Commissioners.
(6) "ORSA summary report" means the report filed in accordance with Article 8 of this chapter.