28 Tex. Admin. Code § 5.9911 - Definitions
The following words and terms, when used in this subchapter, have the following meanings.
(1) Agent--Any person licensed by the
commissioner as a general lines property and casualty agent under Insurance
Code §
4051.051, concerning
License Required.
(2)
Applicant--Any person applying for insurance from FAIR Plan, including any
person designated by the applicant to be the applicant's representative at an
inspection.
(3) Association or FAIR
Plan--The Fair Access to Insurance Requirements (FAIR) Plan Association created
under Insurance Code Chapter 2211, concerning FAIR Plan.
(4) Commissioner--The Texas commissioner of
insurance.
(5) Governing
Committee--The Governing Committee of FAIR Plan authorized under Insurance Code
§
2211.052, concerning
Administration of FAIR Plan; Composition of Governing Committee.
(6) Inspector--The individual(s) or
organization(s) designated by FAIR Plan to make inspections to determine the
condition of the properties for which residential property insurance and
property owners' association insurance is sought and to perform such other
duties as may be authorized by FAIR Plan or the commissioner.
(7) Insurable risk--Property that meets the
underwriting rules of FAIR Plan for determining the insurability of the
risk.
(8) Member insurer or
member--An insurer licensed to write property and casualty insurance in Texas
and writing residential property insurance in Texas, including reciprocal
exchanges and Lloyds plan insurers.
(9) Property owners' association--Homeowners'
or condominium owners' association.
(10) Property owners' association
insurance--Has the meaning assigned by Insurance Code §
2211.001 (6-a),
concerning Definitions.
(11)
Residential property insurance--Coverage as defined in Insurance Code §
2211.001, concerning
Definitions, with the exception of farm and ranch owners and farm and ranch
insurance as set forth in Insurance Code §
2301.003, concerning
Applicability of Subchapter.
(12)
Residential property insurance premiums--Net direct written premiums for
residential property insurance for a calendar year as determined by the Texas
residential property statistical plan.
(13) TDI--The Texas Department of
Insurance.
(14) Underserved area--
(A) For residential property insurance, the
areas designated by the commissioner in §
5.3701 of this chapter (relating
to Designation of Underserved Areas for Residential Property Insurance for
Purposes of the Insurance Code Article 21.49A).
(B) For property owners' association
insurance, the areas determined by the commissioner under §
5.9933 of this chapter (relating
to Determining Underserved Areas for Property Owners' Association
Insurance).
(15)
TWIA--The Texas Windstorm Insurance Association established under Insurance
Code Chapter 2210.
(16)
Underwriting rules--The underwriting rules for residential property insurance
and property owners' association insurance as developed by FAIR Plan that have
been filed with and approved by the commissioner.
Notes
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