Section 230-RICR-20-45-2.3 - DefinitionsA. As used in this Regulation, the following terms shall mean:1. "Applicant" means an insurer who proposes to surrender, not renew, or amend any license to delete approval, in whole or in part, to engage in the business of insurance in the State of Rhode Island and seeks approval of a withdrawal plan to implement that proposal.2. "Affiliate" means any corporation or business of any type which controls the applicant or any corporation or business of any type which is either controlled by the applicant, or by a corporation or business which controls the applicant. 3. "Control" shall have the meaning ascribed to it in R.I. Gen. Laws § 27-35-1(c).4. "Commissioner" means the Commissioner of Insurance appointed pursuant to R.I. Gen. Laws § 42-14-1 et seq., or his or her designee.5. "Department" means the Department of Business Regulation, established pursuant to R.I. Gen. Laws § 42-14-1 et seq.6. "Insurer" means any company licensed under Title 27 or R.I. Gen. Laws § 42-62-1 et seq. of the General Laws of Rhode Island.7. "License" means any license, certificate of authority, certificate of compliance, or other formal approval granted or issued by the Department of Business Regulation, Division of Insurance, allowing an insurer to transact the business of insurance in Rhode Island. License shall not mean a formal approval to an excess or surplus lines insurer.8. "NCCI" means National Council on Compensation Insurance.9. "NWCRP" means National Worker's Compensation Reinsurance Pool.10. "Policy" means any policy of insurance, annuity, rider, endorsement or other contract which provides benefits to any Rhode Island resident.11. "Producer" means an insurance "agent" or "broker" or a person who solicits, negotiates, effects, procures, delivers, renews, continues or binds policies of insurance or who offers advice, counsel, opinion or service in this state licensed in accordance with the General Laws of Rhode Island, as amended. An insurance producer does not include an excess or surplus lines agent or broker licensed pursuant to R.I. Gen. Laws § 27-3-38.12. "Rhode Island Resident" means a person who is domiciled in Rhode Island or a corporation or business entity doing business or having any employees in Rhode Island.13. "Surrender" means voluntary relinquishing of a license or part of a license, the intentional failure to renew a license or part of a license, or the amendment of any license to delete a line or lines of business.14. "Withdrawal Plan" means a plan submitted by an applicant in accordance with the provisions of this regulation which describes how the applicant proposes to surrender or not renew any or all licenses.15. "Workers' Compensation Insurance Fund" means the plan and entity established by R.I. Gen. Laws §27-7.2-1 et seq. which serves as a voluntary and residual market mechanism for workers' compensation insurance.230 R.I. Code R. 230-RICR-20-45-2.3