WAC 284-36A-010

Definitions.

(1) "Adjusted RBS report" means an RBS report which has been adjusted by the commissioner in accordance with WAC 284-36A-020(4).
(2) "AVR" means asset valuation reserve.
(3) "Corrective order" means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required.
(4) "Fraternal benefit society" is defined at RCW 48.36A.010.
(5) "NAIC" means the National Association of Insurance Commissioners.
(6) "Negative trend" means, with respect to a fraternal benefit society, negative trend over a period of time, as determined in accordance with the "trend test calculation" included in the RBS instructions.
(7) "RBC" means risk-based capital.
(8) "RBS" means risk-based surplus.
(9) "RBS instructions" means the RBC report for life insurance companies, including risk-based capital instructions adopted, by the NAIC.
(10) "RBS level" means a fraternal benefit society's society action level RBS, regulatory action level RBS, authorized control level RBS, or mandatory control level RBS where:
(a) "Society action level RBS" means, with respect to a fraternal benefit society, the product of 2.0 and its authorized control level RBS;
(b) "Regulatory action level RBS" means the product of 1.5 and its authorized control level RBS;
(c) "Authorized control level RBS" means the number determined under the risk-based surplus formula in accordance with the RBS instructions;
(d) "Mandatory control level RBS" means the product of.70 and the authorized control level RBS.
(11) "RBS plan" means a comprehensive financial plan containing the elements specified in WAC 284-36A-040(2). If the commissioner rejects the RBS plan, and it is revised by the fraternal benefit society, with or without the commissioner's recommendation, the plan shall be called the "revised RBS plan."
(12) "RBS report" means the report required in WAC 284-36A-050 and 284-36A-020.
(13) "Total adjusted surplus" means the sum of:
(a) A fraternal benefit society's statutory surplus as determined in accordance with statutory accounting applicable to the annual financial statement required to be filed under RCW 48.36A.260; and
(b) Other items, if any, as the RBS instructions may provide.
[Statutory Authority: RCW 48.02.060, 48.36A.100 and 48.36A.290. WSR 99-01-142 (Matter R 98-19), § 284-36A-010, filed 12/22/98, effective 1/22/99; WSR 98-09-016 (Matter R 98-03), § 284-36A-010, filed 4/6/98, effective 5/7/98. Statutory Authority: RCW 48.02.060, 48.36A.100(7), 48.36A.290(4), 48.36A.100, 48.36A.282, 48.36A.284, 48.36A.286, 48.36A.290, 48.36A.310 and 1996 c 236. WSR 96-22-064 (Matter No. R 96-5), § 284-36A-010, filed 11/4/96, effective 12/5/96.]