The following words and terms when used in §§5.4171,
5.4173, 5.4181, 5.4182, and 5.4184 - 5.4192 of this division (relating
to Premium Surcharge Requirements, Determination of the Contingent
Surcharge Percentage, Premiums to be Surcharged, Method for Determining
the Premium Surcharge, Application of Premium Surcharges, Mandatory
Premium Surcharge Collection, Remittance of Contingent Surcharges,
Offsets, Association Surcharges not Subject to Commissions or Premium
Taxes; Contingent Surcharges not Subject to Commissions, Notification
Requirements, Annual Premium Surcharge Report, Premium Surcharge Reconciliation
Report, and Data Collection, respectively) will have the following
meanings unless the context clearly indicates otherwise:
(1) Affiliated insurer--An insurer that is an affiliate,
as described by Insurance Code §823.003, of an insurer authorized
to engage in the business of property or casualty insurance in the
State of Texas. Affiliated insurer includes an insurer not authorized
to engage in the business of property or casualty insurance in the
State of Texas.
(2) Affiliated surplus lines insurer--An eligible surplus
lines insurer that is an affiliate, as described by Insurance Code §823.003,
of an insurer authorized to engage in the business of property or
casualty insurance in the State of Texas.
(3) Association-insured property--Immovable property
at a fixed location in a catastrophe area or corporeal movable property
located in that immovable property covered under an insurance policy
issued by the association.
(4) Contingent surcharge percentage--The percentage
amount set by the commissioner under §5.4173(c) of this division.
(5) Exposure--The basic unit of risk that is used by
an insurer to determine the insured's premium.
(6) Insurer--Each property and casualty insurer authorized
to engage in the business of property or casualty insurance in the
State of Texas and an affiliate of the insurer, as described by Insurance
Code §823.003, including an affiliate that is not authorized
to engage in the business of property or casualty insurance in the
State of Texas, the association, and the Texas FAIR Plan Association.
The term specifically includes a county mutual insurance company,
a Lloyd's plan, and a reciprocal or interinsurance exchange.
(7) Residential property insurance--Insurance against
loss to real or tangible personal property at a fixed location, including
through a homeowners insurance policy, a tenants insurance policy,
a condominium owners insurance policy, or a residential fire and allied
lines insurance policy.
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| Source Note: The provisions of this §5.4172 adopted to be effective February 16, 2011, 36 TexReg 784; amended to be effective June 12, 2014, 39 TexReg 4463; amended to be effective March 9, 2016, 41 TexReg 1697 |
