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 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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Insurance Model Act means the Risk-Based Capital for Insurers Model Act as promulgated by the NAIC, as amended from
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Examples of Insurance Model Act in a sentence

  • The National Association of Insurance Commissioners (“NAIC”) previously announced that it plans to revise the minimum capital and surplus requirements for mortgage insurers that are provided for in its Mortgage Guaranty Insurance Model Act.

  • The NAIC previously announced that it plans to revise the minimum capital and surplus requirements for mortgage insurers that are provided for in its Mortgage Guaranty Insurance Model Act.

  • The Borrower will not permit “total adjusted capital” (within the meaning of the Insurance Model Act as of the Effective Date) of any existing or future Regulated Insurance Company (and each of their successors and assigns), with surplus in excess of $25,000,000, to be less than 175.0% of the applicable “Company Action Level RBC” (within the meaning of the Model Act) as determined as of the end of each fiscal year of the Borrower, commencing with the fiscal year of the Borrower ending December 31, 2015.

  • The Borrower will not permit “total adjusted capital” (within the meaning of the Insurance Model Act as of the Effective Date) of any existing or future Regulated Insurance Company (and each of their successors and assigns) at any time to be less than 175.0% of the applicable “Company Action Level RBC” (within the meaning of the Model Act).

  • The Borrower will not permit “total adjusted capital” (within the meaning of the Insurance Model Act as of the Effective Date) of any of its existing or future U.S. Regulated Insurance Companies, in each case as determined as of the end of each fiscal year, commencing with the fiscal year ending December 31, 2010, to be less than 200.0% of the applicable “Company Action Level RBC” (within the meaning of the Model Act) for such Regulated Insurance Company.

  • We consolidate all variable-interest entities (VIEs) where we are the primary beneficiary.

Related to Insurance Model Act

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

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • 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.