Carrier” shall mean the supplemental income benefits carrier selected pursuant to § 5292 of this title.
“Claims loss ratio” shall mean claims payable as a percentage of premium income, or ratio of incurred losses and loss adjustment expenses to net premiums earned.
“Committee” shall mean the State Employee Benefits Committee as established by § 9602 of this title.
“Employee” shall mean an eligible employee as defined in §§ 5501(e) and 5201 of this title who elects to participate in the supplemental insurance program as specified in § 5293 of this title.
“Income indemnity” shall mean restoration to the participating employee of a loss by payment.
“Premium” shall mean the price of insurance protection for a specified risk for a specified period of time.
“Supplemental insurance program” shall mean voluntary insurance benefits designed to supplement existing major medical coverage where the payments are predetermined and paid regardless of other available coverage.