Risk-based Capital Statistic (rbcs)
Definition of "Risk-based capital statistic (rbcs)"
Ratio of authorized control level risk-based capital of an insurance company to its total adjusted capital. This statistic determines regulatory action taken by the state's insurance commissioner. If the RBCS is greater than 200%, no regulatory action is required. If the RBCS is between 150 and 200%, the insurer must file a plan of corrective action with the insurance commissioner as well as provide an explanation of why the RBCS standards were not met. If the RBCS is between 100 and 150%, the insurer must file a plan of corrective action with the insurance commission and the insurance commissioner will examine the insurer. If the RBCS is between 70 and 150%, the insurance commissioner may seize the insurer. If the RBCS is below 70%, the insurance commissioner is required to liquidate or rehabilitate the insurer.
Popular Insurance Terms
Plan administered through a primary private life insurer and reinsured through other private life insurers, providing a death benefit equal to: one year's salary for active employees at ...
Associated insurers that are under common stock ownership or interlocking directorates. Such an arrangement makes it easier to exchange insurance products for sale to the consumer, reduces ...
Same as term Commercial Health Insurance: coverage that provides two types of benefits, disability income (DI) and medical expenses. Sold by insurance companies whose business objective is ...
Provision in most property insurance policies on real property that permits a policyholder to use an insured place for normal purposes related to occupancy. This might include storing ...
Balance sheet and profit and loss statement of an insurance company. This statement is used by State Insurance Commissioners to regulate an insurance company according to reserve ...
Association of life insurance companies focusing on legislation and public relations that may affect the life insurance business on federal, state, and local levels. Membership is composed ...
Coverage for the owner of an airplane in circumstances where use of the owner's premises as an aircraft hangar results in bodily injury or property damage to a third party. Excluded from ...
Policy with a face value that varies according to a prescribed index of prices; otherwise benefits provided are similar to ordinary whole life. The death benefit is based on the particular ...
Acts or omissions that result in suits against an individual and/or residents of the individual's household for actual or imagined bodily injury and/or property damage to a third party. ...
Have a question or comment?
We're here to help.