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.
Notes
28
Tex. Admin. Code §
5.4172
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 by
Texas
Register, Volume 41, Number 10, March 4, 2016, TexReg
1703, eff.
3/9/2016
