405-C:2 Definitions. –
I. "Commissioner" means the commissioner of the New Hampshire insurance department.
II. "Covered entity" means a nonprofit or for-profit provider or servicer of child care, day care, foster care placement, and behavioral health services.
III. "Department" means the New Hampshire insurance department.
IV. "Liability risks" mean risk of loss sustained by an entity and the risk of claims arising from the tortious or negligent conduct or any error or omission of the entity, its officers, employees, agents, or volunteers as a result of a claim that may be made against the entity.
V. "Multiple-caregiver self-insured risk coverage arrangement" means a formal arrangement which is established or maintained by or on behalf of 2 or more eligible entities for the purpose of jointly covering liability risk.
VI. "Nonprofit organization" means any entity that is exempt from taxation under Section 501(c)(3), 501(c)(4), 501(c)(6) or 501(c)(12) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended.
VII. "Self-insurance" means a formal arrangement of advance funding and management of entity financial exposure to risk of loss that is not entirely transferred through the purchase of an insurance policy or contract.