§431:11A-101 Definitions. For purposes of this article:
"Accredited state" means a state in which the insurance department or regulatory agency meets the minimum financial regulatory standards promulgated from time to time by the National Association of Insurance Commissioners.
"Control" has the meaning ascribed in section 431:11-102.
"Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer.
"Controlling producer" means a producer who, directly or indirectly, controls an insurer.
"Licensed insurer" or "insurer" means any person, firm, association, or corporation duly licensed to transact a property or casualty insurance business in this State. The following are not licensed insurers for the purposes of this article:
(1) All residual market pools and joint underwriting authorities or associations; and
(2) Captive insurance companies as defined in section 431:19-101, other than risk retention captive insurance companies.
"Producer" means any person, firm, association, or corporation licensed pursuant to article 9A, when, for any compensation, commission, or other thing of value, the person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation. [L 1992, c 176, pt of §1; am L 2002, c 155, §78; am L 2003, c 212, §99; am L 2014, c 186, §8]
Section: Previous 431-11-111 431-11-112 431-11-113 431-11-114 431-11-115 431-11-116 431-11-117 431-11a-101 431-11a-102 431-11a-103 431-11a-104 431-11a-105 431-12-101 431-12-102 431-12-103 NextLast modified: October 27, 2016