Washington Revised Code Title 48. Insurance § 48.43.300. Definitions

(1) “Adjusted RBC report” means an RBC report that has been adjusted by the commissioner in accordance with RCW 48.43.305(4).

(2) “Corrective order” means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required.

(3) “Domestic carrier” means any carrier domiciled in this state, or any person or entity subject to chapter 48.42 RCW domiciled in this state.

(4) “Foreign or alien carrier” means any carrier that is licensed to do business in this state but is not domiciled in this state, or any person or entity subject to chapter 48.42 RCW not domiciled in this state.

(5) “NAIC” means the national association of insurance commissioners.

(6) “Negative trend” means, with respect to a carrier, a negative trend over a period of time, as determined in accordance with the “trend test calculation” included in the RBC instructions.

(7) “RBC” means risk-based capital.

(8) “RBC instructions” means the RBC report including risk-based capital instructions adopted by the NAIC, as such RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC.

(9) “RBC level” means a carrier's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

(10) “RBC plan” means a comprehensive financial plan containing the elements specified in RCW 48.43.310(2). If the commissioner rejects the RBC plan, and it is revised by the carrier, with or without the commissioner's recommendation, the plan shall be called the “revised RBC plan.”

(11) “RBC report” means the report required in RCW 48.43.305.

(12) “Total adjusted capital” means the sum of: