Insurance Model Act definition

Insurance Model Act means the Risk-Based Capital for Insurers Model Act as promulgated by the NAIC, as amended from time to time.
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Insurance Model Act means the Risk-Based Capital for Insurers Model Act as promulgated by the NAIC, as amended from
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Insurance Model Act means the Risk-Based Capital for Insurers Model Act as promulgated by the NAIC, as amended from time to time. “Insurance Products” means any product provided by an insurer or service contract provider in its insurance or warranty business wherebysuch insurer or service contract provider undertakes to pay or indemnify another as to loss from certain specified contingencies or perils called “risks” or to pay or grant a specified amount or determinable benefit in connection with ascertainable risk contingencies or to act as a surety, including, without limitation, reinsurance agreements, reinsurance treaties, reinsurance pools, property and casualty insurance products, accident and health insurance products, life insurance products, surety bonds, specialty risk insurance programs, warranty programs, insurance loss portfolio transfers and any other insurance or reinsurance product related to the acceptance of risk or commitment to pay or indemnify another for specific types of losses.
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Examples of Insurance Model Act in a sentence

  • Under sections 7702B(b)(1)(F), 7702B(g), and 4980C, qualified long-term care insurance con- tracts and issuers of those contracts are required to satisfy certain provi- sions of the Long-Term Care Insurance Model Act (Model Act) and Long-Term Care Insurance Model Regulation (Model Regulation) promulgated by the National Association of Insurance Commissioners (NAIC), as adopted as of January 1993.

  • For this pur- pose, the long-term care insurance re- quirements of the State are the State laws (including statutory and adminis- trative law) that are intended to regu- late insurance coverage that con- stitutes ‘‘long-term care insurance’’ (as defined in section 4 of the National As- sociation of Insurance Commissioners (NAIC) Long-Term Care Insurance Model Act, as in effect on August 21, 1996), regardless of the terminology used by the State in describing the in- surance coverage.

  • Linguistic research or enquiring about CH did not make enough sense for any of its speakers.

  • The term ‘‘Non-Admitted Insurance Model Act’’ means the provisions of the Non-Admit- ted Insurance Model Act, as adopted by the NAIC on August 3, 1994, and amended on Sep- tember 30, 1996, December 6, 1997, October 2,1999, and June 8, 2002.

  • Drafting Note: The NAIC Long-Term Care Insurance Model Act defines long-term care insurance as a policy that provides coverage for not less than twelve months.

  • States that have adopted long-term care insurance laws and regulations similar to the NAIC’s Long-Term Care Insurance Model Act and Long-Term Care Insurance Model Regulation should consider whether this language should be changed to conform to any applicable notice and approval requirements for premium rate schedule increases for long-term care insurance policies.

  • This regulation is intended to provide requirements for all long-term care insurance contracts, including qualified long-term care insurance contracts, as defined in the NAIC Long-Term Care Insurance Model Act and by Section 7702B(b) of the Internal Revenue Code of 1986, as amended.

  • This subsection does not apply to policies designed to provide coverage for long-term care or to Medicare supplement insurance, as defined in [insert reference to state law equivalent to the NAIC Long-Term Care Insurance Model Act and Medicare Supplement Insurance Minimum Standards Model Act].

  • It is further intended to prevent future changes to, and developments in, the capital standards resulting in weaker standards than established in the previous version of this Mortgage Guaranty Insurance Model Act.

  • This Act shall be known as the Private Primary Residential Flood Insurance Model Act.

Related to Insurance Model Act

  • Insurance Program or “program” shall mean a program which has been designated as a major program of PRISM under which participating members are protected against designated losses, either through joint purchase of primary or excess insurance, pooling of self-insured claims or losses, purchased insurance or any other combination as determined by the Board of Directors. The Board of Directors, the Executive Committee, or a program’s governing committee may determine applicable criteria for determining eligibility in any insurance program, as well as establishing program policies and procedures.

  • Insurance Schedule means Schedule 3 attached hereto.

  • Insurance Affordability Program means a program that is one of the following:

  • Insurance score means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of a consumer.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Blanket insurance policy means a group policy covering a defined class of

  • Group health insurance coverage means in connection with a group health plan, health insurance

  • Insurance Regulator means any Person charged with the administration, oversight or enforcement of any Insurance Regulation.

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • long-term insurance business means the business of providing or undertaking to provide policy benefits under long-term policies, but does not include -

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Insurance producer means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, including annuities.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Health insurance carrier or "carrier" means any entity subject to the insurance

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • insurance period means a contribution period or an equivalent period;