Glossary

You may scroll through the glossary or click any letter below to jump to terms beginning with that letter.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

1033/1034 Info - Specifies whether an activity is related to 18 U.S.C. Sec. 1033/34 with respect to felony convictions of dishonesty and breach of trust (1033 State Decision Repository Summary Report)

A

Action Date - See Date of Action

Aggregate -Credit and A&H Pure Direct Loss Ratio (Property and Life) - This report shows aggregate figures (the sum of all companies) for Direct Premiums Written, Direct Premiums Earned and Direct Losses incurred on the State Page for A&H lines of business. You cannot select individual lines of business or combine lines. The last column of the report (Loss Ratio) enables you to determine the total losses incurred to premiums earned for each line of business in the state selected. The Loss Ratio is calculated excluding all loss adjustment expenses (LAE). Data for both property and life companies are included. (State Page Reports)

Aggregate - Lines of Business by State (Property and Health) - This report shows aggregate figures (the sum of all companies) by column for each line of business on the Property/Casualty and Health State Pages. You cannot select individual lines of business or combine lines. (State Page Reports)

Alias - a National Producer record provided by any state not qualified to send the primary name type and when the entity record contains information different than the primary name, such as a middle initial instead of a middle name or a company name that is abbreviated

Alien Number - a unique number assigned to alien (non-U.S.) producers with the format AA-xxxxxxx (Market Firm Search)

All Addresses - all known addresses for an entity or National Producer number (firm or individual) (Company Demographics; Market Demographics)

Amended Filing - a filing requested of a company when substantial errors were found in only parts of the original filing, and containing only those parts with errors. (View Documents)

Analyst Notes - provides access to information entered by the NAIC analyst assigned to each company, including any pertinent information about a filing not captured by other means, such as records from telephone conversations, electronic mail messages, compliance and financial data reporting issues, summaries of conversations with state regulators regarding a company's filing, etc. (Analyst Notes)

Analyst Team Report - similar to the Exam Team Synopsis, but based on an automated statistical analysis using Financial Analysis and Solvency Tracking (FAST) ratios and Risk-Based Capital ratios, and improves on the Exam Team Synopsis by providing a clearly-defined prioritization system and incorporating regulator analysis. (Analyst Team Report)

Analyst Team System (ATS) Level - a designation (Level A or Level B) based on FAST ratio scores and RBC ratios that helps regulators better prioritize and analyze the financial condition of insurance companies. Level A: Insurer's problems may be very serious or possibly threaten its short-term continuation. The Analyst Team recommends the highest level of attention in the surveillance process; Level B: All or part of a company's operations appear to have long-term adverse effects on the insurer's financial condition. The Analyst Team is recommending that the State Insurance Department accord the company the second highest level of attention in the surveillance process; Level N: A material change or unusual results are noted but the Analyst Team does not consider the impact of the change to have an adverse effect on the insurer's financial condition; Level F: Companies selected by the first set of selection criteria, but not selected by the second set of selection criteria as an automated Level A or B; Level X: Companies not selected by the first set of selection criteria. This replaces the former Exam Team Priorities. (Analyst Team Reports)

Annual Statement Reports - see Pick-A-Page (Pick-A-Page)

Assumed/Ceded Reinsurance Reports - reports that attempt to list companies that have either ceded premiums to this company, or the company had ceded to another company (Jumpstart)

Audit Trail - provides access to all changes (edits, inserts and deletes) to a company's financial data and demographics, including detailed information about why, when and who made a change to the database (Audit Trail)

AZ Reinsurer – companies that write ONLY reinsurance and who are domiciled and licensed ONLY in Arizona. These companies are requested, but not required to file annual statements to the NAIC.

B

BACV - Book Adjusted Carrying Value (securities)

Business Preference - This feature will determine which demographic page you see first when you click on the blue Company Name link from the Company Search Results page.  Financial demographics will display when the business preference is set to Financial.  MAP-Demographics will display when the business preference is set to Market.  This setting only affects the company name links in the Company Search Results.  Business Preference is a "sticky" option and will remain as set until you change it.

Business Type - refers to the primary business type under which the company files its annual statement, such as Life, Property, Fraternal, Title, HMDI, HMO or LHSO; also known as Statement Type (Financial Company Search; Scoring Summary Reports)

Business Written - refers to whether a company has written business in a specified state as indicated in Schedule T of the annual statement (Financial Company Search; Scoring Summary Reports)

C

CDS Summary Reports - provide closed complaint information for groups of companies based on specified criteria

Ceded (Reinsurance)- Assign or transfer. An insurance company may also buy insurance to cover losses it may experience. When they do this the risk of loss is Ceded or transferred to the other insurance company. Reinsurance Ceded is found in Financial Reports under (Jumpstart)

CINS - an alphabetic character in the first position of a CUSIP that identifies the number as a foreign issuer. (Securities and Subsidiaries) The following alphabetic characters indicate the location where the issue was originally underwritten:

City - The city of an entity's or National Producer number's address (Market Firm Search; Market Individual Search)

Closed Complaint Counts by Code - lists all complaint codes and the number of complaints for each code, based on the selected criteria (CDS Summary Reports)

Closed Complaint Counts by State Report - displays the number of complaints for each state based on the criteria selected (Complaints Database System; CDS Summary Reports)

Closed Complaint Detail Report - displays the number of complaints selected for an entity or National Producer number based on various complaint codes - Type, Reason or Disposition (Complaints Database System)

Closed Complaint Filing Status - utility that lists by state/territory the number of closed complaints entered in the Complaints Database System, the earliest date a complaint was closed, and the most recent date a complaint was closed (Closed Complaint Filing Status)

Closed Complaint Trends Report - displays the number and percent of change in closed complaints based on the criteria selected. The information is displayed for the previous six years, as well as monthly detail for the most recent two years. (Complaints Database System; CDS Summary Reports)

CMO Summary and Detail Reports - reports that list Collateralized Mortgage Obligations, either from a totals standpoint, or listing each item separately; also include flux scores (Jumpstart)

Codelist Generator - allows users to view and/or update the licensing records of businesses operating in their state. This allows states to maintain current records to ensure the accuracy of licensing data in reports referencing this information. (Codelist Generator)

Combined Examination - an examination that looks at both the financial and market practices of a company. Combined exams may be called by states that do not have a separate market regulation examination team or when a state performing a financial examination also wants to look at a company’s market practices.

Company Appointment/Termination Report- allows you to view, print, or download as a file a report of the active appointments, the appointment terminations, or appointment/termination history for a specific company in a specific state.  There will only be one company and one state per report. (Company Appt/Term Report) 

Company Code - a five-digit identifying number assigned to all insurance companies filing financial data with the NAIC (Financial Company Search; Market Firm Search; Scoring Summary Reports)

Company Contacts - various contact names, addresses and phone numbers, such as Annual Statement Filing Contact, Diskette Contact, statutory address, primary location of records, etc. (Company Demographics)

Company Demographics - information from the company master file, including address, phone, contact name, etc., as well as other names, company contacts, all addresses, officers, and filing by state for insurance companies (Company Demographics)

Company Information - information from the company master file, such as company code, group code, business type, FEIN, filing type, etc. (Company Demographics)

Company Name - the name of an insurance company as it appears in the NAIC database (Financial Company Search)

Company Status - the status of an insurance company, such as Conservatorship, Active company - no regulatory action, Merger or consolidation into another entity - no longer active, Rehabilitation, permanent or temporary receivership, Voluntarily out of business, In liquidation or liquidated, Estate closed, Inactive charter, or Permanently not requested to file (Financial Company Search)

Company Type - the type of insurance company, such as Consolidated Fire and Casualty, Mutual, Reciprocal, Lloyds, Stock, U.S. Branch of Alien Insurer, Fraternal or HMO, Hospital, Medical, Dental, Indemnity Group, Risk Retention Group, or Residual Market Mechanisms and State Insurance Funds (Financial Company Search)

Complainant Type - specifies the identity of the complainant, such as Beneficiary, Insured, Producer, Third Party or Other (Complaints Database System; CDS Summary Reports)

Complainant ZIP Code Range (From and To) - specifies the beginning and ending zip codes to use to search for addresses maintained by the date a complaint was closed (Complaints Database System; CDS Summary Reports)

Complaint Closed Date (From and To) - specifies the date range when a complaint was closed (NOTE: Requires leading zeroes for days and months, as well as a four-digit year.) (Complaints Database System)

Complaint Database System (CDS) - contains information about closed complaints filed by consumers against insurance entities and National Producer numbers. (Complaints Database System)

Complaint Index Report - displays market share and complaint share for a selected entity or for those companies that file annual financial statements with the NAIC and that have closed consumer complaints submitted to the NAIC by member states and territories. An index of 1.0 indicates that the company had a percentage of complaints equal to its percentage of premium written for the coverage type and state(s) selected. (Complaints Database System; CDS Summary Reports)

Complaint Median Index - Provides the median complaint index of all company indices obtained for the specified policy type for the specified calendar year (Complaints Database System)

Complaint Share - the percentage of the closed consumer complaints that were registered against a company during a selected year, for the business and state(s) indicated in comparison to the closed consumer complaints that were registered against all companies during the selected year for the business and state(s) indicated. Closed Complaints for a Company/Closed Complaints for All Companies=Complaint Share (Complaints Database System; CDS Summary Reports)

Complaint Year - the year a complaint is closed by the state insurance department (Complaints Database System; CDS Summary Reports)

Completion Date - the date work was completed for an examination

Contact Person - person supplying information related to a regulatory action and who may possess additional information (Regulatory Information Retrieval System)

Contact Phone - phone number for a Contact Person (Regulatory Information Retrieval System)

Cookie - a special text file that a Web site puts on your hard drive, so that it can remember something about you at a later time. Typically a cookie records your preferences when visiting a particular site. (Getting Started; FAQs)

Country - the country where an insurance company's home office is located. (Searching for Entities)

Country Name - an issuer's country of domicile (Securities and Subsidiaries)

Coverage Type - the type of coverage on which an index calculation is based; Private Passenger Auto, Homeowners, All Property, Individual Life, Group Life, Individual Accident and Health, and Group Accident and Health (Complaints Database System; CDS Summary Reports)

CUSIP - the Committee on Uniform Securities Identification Procedures (CUSIP) number is used to identify securities. Every security in the Valuation of Securities database has a CUSIP number. CUSIP numbers consist of nine characters: the first 6 characters represent the issuer of a security, the next 2 represent the issue and the last character is a check digit. If the number contains a #,@, or * , it is a private placement number (PPN). Any security containing these characters indicates that the security is not traded in public markets. Administered by Standard and Poor’s. Also see Issuer/Issue (Securities and Subsidiaries)

D

Data Models - a utility that describes the table structures and the business rules that apply in defining the requirements controlling the design and implementation of the NAIC databases (Data Models)

Data Reference Manual - a utility that details how annual statement data is stored on the NAIC database tables (Data Reference Manual)

Date Complaint Closed (Start and End) - See Complaint Closed Date (CDS Summary Reports)

Date of Action - the date a regulatory action took place (Regulatory Information Retrieval System; RIRS Summary Report)

Date of Birth - the birth date of an individual (Market Individual Search)

Dated Date - date from which accrued interest is calculated on bonds and other debt instruments (Securities and Subsidiaries)

Date Entered - specifies the date that an activity or regulatory action was entered into the database (Regulatory Information Retrieval System; RIRS Summary Report)

Debt Equity - a common stock with no maturity or dividend rate (Securities and Subsidiaries)
1-Municipal
2-Corporate debt
3-Corporate equity
4-U.S. Government
5-Foreign debt
6-Foreign equity

Designation - ratings from which the required Schedule D accounting value is determined as defined in the Purposes and Procedures Manual of the Securities Valuation Office (SVO) (Securities and Subsidiaries). Designations are as follows:
Bonds
1 - Highest Quality
2 - High Quality
3 - Medium Quality
4 - Low Quality
5 - Lower Quality
6 - Bonds and counterparties in or near default

Preferred Stock
P1 - Highest quality perpetual preferred stock
P2 - High quality perpetual preferred stock
P3 - Medium quality perpetual preferred stock
P4 - Low quality perpetual preferred stock
P5 - Lower quality perpetual preferred stock
P6 - Lowest quality perpetual preferred stock
PSF1 - Highest quality sinking fund or limited life preferred stock
PSF2 - High quality sinking fund or limited life preferred stock
PSF3 - Medium quality sinking fund or limited life preferred stock
PSF4 - Low quality sinking fund or limited life preferred stock
PSF5 - Lower quality sinking fund or limited life preferred stock
PSF6 - Lowest quality sinking fund or limited life preferred stock

UP - The security is unable to price for both preferred and common stocks, indicating that a recent market quotation for a publicly traded issue was not available to the SVO at the time of publication
F – the NAIC Designation, Unit Price or both shown was determined by the reporting insurance company and not by the SVO
L – the unit price given for a share of common or preferred stock is the price listed on the New York Stock Exchange, the American Stock Exchange or the NASDAQ National Market System
NR - This symbol is not an official NAIC Designation and is not to be used in the Annual Statement. It is only used in the VOS manual for bonds and in the SVO Procedures Manual for counterparties. NR, meaning Not Rated, indicates that the required financial information is not available to the SVO, or it was received to late for use in determining an Association value prior to the manual's publication date.
NR* - the security so designated belongs to a class of securities currently under policy review by the NAIC
PE - the security is "provisionally exempt" and is exempt from being filed with the SVO. A designation of 1PE or 2PE identifies a security filed as previously exempt where the designation is cross-checked with NRSRO ratings. Provisionally exempt securities might also have a designation of W or L.
U – the price given for a share of common or preferred stock is the price listed on any market or exchange, including a foreign exchange, other than the New York Stock Exchange, the American Stock Exchange or the NASDAQ National Market System
W - appears either alone or with a numerical designation and indicates that a discrepancy exists between the provisionally exempt status reported by an insurer and the status as determined by NRSRO ratings crosschecks. Alone, W means that the security reported by the insurer as having provisionally exempt status was not reported by the NRSROs as a rated security. A numerical designation in front of W identifies the NAIC designation category that results from a conversion of NRSRO ratings.
Z – the NAIC Designation, unit price or both reported by the insurance company was not derived by or obtained from the SVO, but has been determined by a reporting insurance company. NOTE: A security designated with a Z must be submitted to the SVO for valuation within 120 days of the date the security was acquired
Z* - the class of securities can not be rated by the SVO because the valuation procedure is under regulatory review

Detail Lines Of Business (Property)-This report provides a list of premium information for each company and each line of business premiums by line of business, by compan (State Page Reports)

Detail Life Premium & Annuity Considerations  - This report provides premium information for life and annuity business written by life companies. The data is based on the State Page, and the report format resembles the Life State Page format. Each line of business applicable to life and annuity business is displayed in each report separately, or combined into one report showing life, annuity and miscellaneous (write in) business. (State Page Reports)

Detail Life Summary  - This report provides a summary of key data on the life state page by company. This information includes Life Premiums, Annuity Considerations, Insurance in Force ending current year, Direct Benefits Paid, A&H Direct Premiums Written and A&H Losses Incurred. (State Page Reports)

Detail- P&C or Health Summary by Line of Business - This report displays the six columns of data that appear on the State Page for the type of companies you request (domiciled, licensed, etc.). You can select individual lines of business and combine lines. The total line is always displayed. (State Page Reports)

Detail Unlicensed Premiums (Property, Life and Health) - This report lists companies that write business in the state specified but are not licensed. It is based on Direct Premiums Written on Schedule T. The report is available for both life, property and health companies. (State Page Reports)

Disposition - the decision and penalty in a legal action or regulatory action
(Regulatory Information Retrieval System)

Doing Business As - an entity or National Producer number record for an occasion when a licensed individual or company is using a business name other than the name holding the license (State Producer Licensing Database - SPLD)

Domiciled - the state where a company's home office is located (Scoring Summary Reports)

E

Effective Date - the date an activity is in effect in the State Decision Repository or a regulatory action is in effect in the RIRS database (1033 State Decision Repository;Regulatory Information Retrieval System)

Enter Date - see Date Entered

Entity Name - the name of a firm as it appears in the NAIC database

Entity Number - a unique universal identifier assigned by NIPR for all firms as they are loaded to the SPLD database. The entity number is currently tied to the firm's FEIN, so if there are multiple branches of the same firm with different FEINs, there will be more than one entity number assigned (Market Firm Search) 

Entity Relationships - displays the entities or National Producer numbers related to the original entity requested, as well as a list of information available on those related entities or National Producer numbers. (Relationships)

Entity Role - Specifies the function of an entity at the time of an activity or regulatory action Example: Third Party Administrator or U.S. Domiciled Insurer) (Regulatory Information Retrieval System; RIRS Summary Report; CDS Summary Reports)

Entity Type - refers to whether an entity is an individual or a firm (CDS Summary Reports)

Est. Field Work End Date – the estimated date a field examiner(s) will complete work at an exam site(s)

Est. Field Work Start Date – the estimated date a field examiner(s) will begin work at an examination site(s)

Exam Type - indicates whether an examination is financial, market regulation

Exam Zone - the zone in which a company is licensed or writing business, such as Northeastern, Southeastern, Midwestern, Western, Canada and Other Alien or EX4 (Financial Company Search)

Expiration Date - the date a producer license expires (State Producer Licensing Database - SPLD)

Extension – Filing of annual statement extension granted to a specific company by each state individually, based on the state’s filing requirements (Company Demographics)

F

FAH File Download - allows users to download the Program Automator Checklists and/or the corresponding Microsoft Word documents for the Financial Analysis Handbook (FAH) (Financial Analysis Handbook)

FAS Tables - data tables used by Scoring, Profiles and Financial Analyst Handbook applications (Data Reference Manual)

FEIN - Federal Employer Identification Number - a nine-digit number, in the format ##-#######, assigned to a company by the federal government as a means of identification for tax paying purposes (NOTE: A hyphen must be included between the 2nd and 3rd digits when entering the FEIN for search purposes.) (Financial Company Search; Market Firm Search)

Filing-at-a-Glance - provides regulators the details of the status of an individual company's filing, receive dates and whether the filing passed all minimum standards (Filing-at-a-Glance)

Filing PDF's - provides access to electronic documents stored by the NAIC for a specific filing, including a printable version of a company's data as filed, and electronic access to free-form text portions of the annual statement filing (SVO Compliance, Statement of Actuarial Opinion, Management Discussion and Analysis and Annual Audited Financial Statements) (Filing PDF's)

Filing Exempt - FE or Filing Exemption, is a new rule adopted by the NAIC which grants an exemption from filing with the SVO for bonds and preferred stock that have been assigned a current, monitored rating by an NRSRO. FE replaces the PE or provisionally exempt rule. FE also includes filing exemption for public common stock but the basis for the exemption is the same as it was under the PE policy - that is, public common stock that is not restricted to transferability and is listed on the New York Stock Exchange, American Stock Exchange or traded on the NASDAQ National Market System does not need to be filed with the SVO.

Until the publication of the July 1, 2004 P&P Manual, the definition for FE appears in the Special Insert section of the December 31, 2003 version of the SVO P&P Manual. FE is defined as follows:

“FE means exempt from filing with the SVO and is used by an insurance company to report an NAIC Designation for an exempt security on the NAIC Financial Statement Blank. The administrative symbol FE is used with an NAIC 1 through 6 Designation and signifies that the reported security meets the criteria set forth in Part Four, Section 2 (c) of this Manual and that the NAIC Designation was arrived at by the insurer by converting the NRSRO rating(s) into a corresponding NAIC Designation in accordance with Section 4 of the Appendix to this Manual.”

FE Criteria - The only FE criterion is that the security, at the CUSIP/PPN/CINS level, has an NRSRO rating. It is only necessary to have one NRSRO rating. If more than one NRSRO rating exists, then the second highest NRSRO rating is used. Split ratings are resolved in accordance with the “second highest” portion of the rule. Split rated securities are not filed with the SVO. In addition, please note that Dominion Bond Rating Service (DBRS) was added to the approved NRSRO list in October 2003. Its ratings may be used for a security to qualify as FE. DBRS data is expected to be included in the SVO/NAIC systems sometime in 2004.

Filing by State - indicates whether the company is licensed and/or writing business in each state for the specified data year (Company Demographics)

Filing Status - Annual and Quarterly filing status designations, such as inactive, requested to file, filing waived by state, filing status 3, filing date extended by state of domicile, filing status 8 and permanently waived from filing (Financial Company Search)

Filing Type - refers to whether an annual or quarterly statement filed is from an individual company (individual) or a group of companies (consolidated) (Financial Company Search)

Financial Analysis Handbook (FAH) - financial reports that provide answers to the handbook checklists designed to help with the financial analysis process (Financial Analysis Handbook)

Financial Examination - an examination called to scrutinize a company's financial situation

Fingerprints in Central Repository- Working under the direction of the Producer Licensing (D) Working Group and the five pilot states of Alaska , California , Idaho , New York and Pennsylvania , the NAIC has established a Central Repository for Digital Fingerprints. State fingerprint vendors for the pilot States will collect the fingerprints as they currently do and send them to the State Department of Justice (or other State law enforcement agency). The State fingerprint vendors will also send a copy of the digital fingerprint packets to the NAIC Central Repository. (Producer Licensing)

Firm Name - the name of a company or agency (Market Firm Search)

First Name - the first name of an individual (Market Individual Search)

Form A - The Form A application is based from information  that will allow the on-line entry of data for persons wishing to acquire control of or merge a domestic insurer, otherwise known as a “Form A” filing.  The purpose of this database is to facilitate the communication of actions taken by the States on all Form A filings and  facilitate the coordination of Form A reviews in an attempt to avoid the duplication of regulatory processes via a web based tool.  This database will assist insurance regulators by producing a streamlined regulatory process that maintains the integrity of State holding company laws, while being responsive to a dynamic and evolving industry.  The specifications for the database were designed by members of the Group Solvency Issues (E) Working Group and the National Treatment and Coordination (E) Working Group.  (Form A)  

Full/Comprehensive Examination - an examination that covers the full scope of a company's business practices

G

Goodwill - the difference between the price paid for an entity (the costs of acquiring it) and the book value of the entity. Negative goodwill develops if the price paid is less than the book value of the entity. The difference between price and book value has to have some explanation. It is deemed to be based on the goodwill of those that deal with the entity acquired. It is further deemed to be spent over a time period not to exceed 10 years from the acquisition.(Securities and Subsidiaries)