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.

  • 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.

  • The issue of Shares offered by this Prospectus will take place as soon as practicable after the Closing Date.

  • A long-term care insurance policy or certificate containing any limitations or conditions for eligibility other than those prohibited in [insert citation to state law corresponding to Section 6D(2) of the Long-Term Care Insurance Model Act] shall set forth a description of the limitations or conditions, including any required number of days of confinement, in a separate paragraph of the policy or certificate and shall label such paragraph “Limitations or Conditions on Eligibility for Benefits.

  • Prior to an insurer or similar organization offering group long-term care insurance to a resident of this state pursuant to [cite state law equivalent to Section 5 of the Long-Term Care Insurance Model Act], it shall file with the commissioner evidence that the group policy or certificate thereunder has been approved by a state having statutory or regulatory long-term care insurance requirements substantially similar to those adopted in this state.

  • Drafting Note: This regulation, like the NAIC Long-Term Care Insurance Model Act, is intended to apply to policies, contracts, subscriber agreements, riders and endorsements whether issued by insurers; fraternal benefit societies; nonprofit health, hospital and medical service corporations; prepaid health plans; health maintenance organizations and all similar organizations.

  • This section of the regulation implements, interprets and makes specific, the provisions of [Section 6G of the Long-Term Care Insurance Model Act] [cite provision of law requiring the commissioner to prescribe the format and content of an outline of coverage] in prescribing a standard format and the content of an outline of coverage.

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

  • This regulation is issued pursuant to the authority vested in the commissioner under [cite sections of law enacting the NAIC Long-Term Care Insurance Model Act and establishing the commissioner’s authority to issue regulations].

Related to Insurance Model Act

  • 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, with respect to any jurisdiction, the Governmental Authority charged with the supervision of insurance companies in such jurisdiction.

  • 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 long-term insurance business as defined in the Insurance Act, 1943 (Act 27 of 1943), and includes any business which is for the purposes of the said Act dealt with by the Registrar of Insurance as long-term insurance business and any business which in the opinion of the Minister is medical aid insurance business conducted on a non-cancellable basis;

  • 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.

  • 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 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • 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;

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Insurance Commissioner means the Insurance Commissioner