Section 5290 - DefinitionsAs used in this chapter:
(1) "Carrier" means the supplemental income benefits carrier selected pursuant to § 5292 of this title.(2) "Claims loss ratio" means claims payable as a percentage of premium income, or ratio of incurred losses and loss adjustment expenses to net premiums earned.(3) "Committee" means the State Employee Benefits Committee as established by § 9602 of this title.(4) "Employee" means an eligible "employee" as defined in §§ 5501 and 5201 of this title who elects to participate in the supplemental insurance program as specified in § 5293 of this title.(5) "Income indemnity" means restoration to the participating employee of a loss by payment.(6) "Premium" means the price of insurance protection for a specified risk for a specified period of time.(7) "Supplemental insurance program" means voluntary insurance benefits designed to supplement existing major medical coverage where the payments are predetermined and paid regardless of other available coverage.Amended by Laws 2023 , ch. 233, s 58, eff. 9/21/2023.Added by Laws 2013 , ch. 391, s 1, eff. 8/6/2014.