West Virginia Code 33-52-2 – Definitions
As used in this article:
Terms Used In West Virginia Code 33-52-2
- Board: means the board of directors of an insurer or insurance group. See West Virginia Code 33-52-2
- Insurance group: means those insurers and affiliates included within an insurance holding company system as defined in §. See West Virginia Code 33-52-2
- Insurer: means every person engaged in the business of making contracts of insurance, 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. See West Virginia Code 33-52-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(1) “Board” means the board of directors of an insurer or insurance group.
(2) “Corporate Governance Annual Disclosure” or “CGAD” means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this article.
(3) “Insurance group” means those insurers and affiliates included within an insurance holding company system as defined in § 33-27-2 of this code.
(4) “Insurer” means every person engaged in the business of making contracts of insurance, 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.
(5) “ORSA summary report” means the report filed in accordance with § 33-40B-5 of this code.
(6) “Senior management” means any corporate officer responsible for reporting information to the board at regular intervals or providing this information to shareholders or regulators and shall include, for example and without limitation, the chief executive officer (CEO), chief financial officer (CFO), chief operations officer (COO), chief procurement officer (CPO), chief legal officer (CLO), chief information officer (CIO), chief technology officer (CTO), chief revenue officer (CRO), chief visionary officer (CVO), or any other “C” level executive.