South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:36 - Risk-based capital (RBC) reports
Section 20:06:36:01 - Definitions

(1) "Adjusted RBC report" means an RBC report that has been adjusted by the director in accordance with § 20:06:36:06;

(2) "Corrective order" means an order that has been issued by the director and which specifies the corrective actions;

(3) "Domestic insurer" means any insurance company domiciled in this state or any entity required to comply with RBC pursuant to SDCL 58-4-48;

(4) "Domestic health organization" means any health organization domiciled in this state;

(5) "Foreign insurer" means any insurance company that is licensed to do business in this state but not domiciled in this state;

(6) "Foreign health organization" means any health organization that is licensed to do business in this state, but not domiciled in this state;

(7) "Health Organization" means any health maintenance organization, limited health service organization, dental or vision plan, hospital, medical and dental indemnity or service corporation and other managed care organization licensed under SDCL title 58 but does not include an organization that is:

(8) "NAIC" means the National Association of Insurance Commissioners;

(9) "Life or health insurer" means:

(10) "Property and casualty insurer" means any insurance company licensed under SDCL title 58 to do business in this state, but not monoline mortgage guaranty insurers, financial guaranty insurers, or title insurers;

(11) "Negative trend" means for a life or health insurer, a negative trend in the level of risk-based capital over a period of time;

(12) "RBC" means risk-based capital;

(13) "RBC instructions" means the 2022 NAIC RBC Forecasting and Instructions-Life, the 2022 NAIC RBC Forecasting and Instructions-Property/Casualty, and the 2022 NAIC RBC Forecasting and Instructions-Health;

(14) "RBC plan" means a comprehensive financial plan containing the elements specified in § 20:06:36:08;

(15) "RBC report" means the report required in §§ 20:06:36:03 through 20:06:36:06;

(16) "Revised RBC plan" means a rejected RBC plan by the director that is revised by the insurer or health organization, with or without the director's recommendation;

(17) "Total adjusted capital" means the sum of an insurer's or health organization's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under SDCL 58-6-75, and any other items required by the RBC instructions.