The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) Board--The State Board of Insurance. (2) Code--The Texas Insurance Code, 1951, as amended. (3) Commissioner--The commissioner of insurance. (4) Risk management--The process of identifying the areas of potential risk, using measurement techniques to determine the severity and frequency with which the risk may occur, evaluating and analyzing all costs involved with each type of risk, and establishing procedures for managing, controlling, retaining, and financing each risk. (5) Risk manager--A person who holds himself out to the public and who for compensation examines, assesses, or evaluates risks for, and provides advice for reduction of risks to, a person who seeks to obtain or renew property and casualty insurance coverage in this
state. (6) Rules--All rules under this subchapter relating to risk managers.
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