Property and casualty insurance

Property and casualty insurance means commercial lines of property and casualty insurance, including excess insurance, workers' compensation insurance, and directors and officers liability insurance, and:
(1) Means commercial lines within only the following lines of insurance from the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14): Line 1 - Fire; Line 2.1 - Allied Lines; Line 5.1 - Commercial Multiple Peril (non-liability portion); Line 5.2 - Commercial Multiple Peril (liability portion); Line 8 - Ocean Marine; Line 9 - Inland Marine; Line 16 - Workers' Compensation; Line 17 - Other Liability; Line 18 - Products Liability; Line 22 - Aircraft (all perils); and Line 27 - Boiler and Machinery; and
(2) Does not include:
(i) Federal crop insurance issued or reinsured under the Federal Crop Insurance Act (7 U.S.C. 1501 et seq.), or any other type of crop or livestock insurance that is privately issued or reinsured (including crop insurance reported under either Line 2.1 - Allied Lines or Line 2.2 - Multiple Peril (Crop) of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14);
(ii) Private mortgage insurance (as defined in section 2 of the Homeowners Protection Act of 1988) (12 U.S.C. 4901) or title insurance;
(iii) Financial guaranty insurance issued by monoline financial guaranty insurance corporations;
(iv) Insurance for medical malpractice;
(v) Health or life insurance, including group life insurance;
(vi) Flood insurance provided under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.) or earthquake insurance reported under Line 12 of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14);
(vii) Reinsurance or retrocessional reinsurance;
(viii) Commercial automobile insurance, including insurance reported under Lines 19.3 (Commercial Auto No-Fault (personal injury protection)), 19.4 (Other Commercial Auto Liability) and 21.2 (Commercial Auto Physical Damage) of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14);
(ix) Burglary and theft insurance, including insurance reported under Line 26 (Burglary and Theft) of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14);
(x) Surety insurance, including insurance reported under Line 24 (Surety) of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14);
(xi) Professional liability insurance as defined in section 50.5(j); or
(xii) Farmowners multiple peril insurance, including insurance reported under Line 3 (Farmowners Multiple Peril) of the NAIC's Exhibit of Premiums and Losses (commonly known as Statutory Page 14).
(v) Secretary means the Secretary of the Treasury.
(w) State means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, each of the United States Virgin Islands, and any territory or possession of the United States.
(x) Surcharge means the Federal Terrorism Policy Surcharge as defined in paragraph (i) of this section.
(y) Surcharge effective date means the date established by Treasury that begins the assessment period.
(z) Treasury means the United States Department of the Treasury.
(aa) Uncompensated insured losses - means the aggregate amount of insured losses, from Program Trigger Events, of all insurers in a Program Year that is not compensated by the Federal Government because such losses:
(1) Are within the insurer deductibles of insurers, or
(2) Are within the portions of losses in excess of insurer deductibles that are not compensated through payments made as a result of claims for the Federal share of compensation.

Source

31 CFR § 50.5


Scoping language

For purposes of this Part:

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