1998 Minnesota Statutes

     65A.33 Definitions. 

    Subdivision 1.  As used in sections 65A.31 to 65A.42, 
 unless the context otherwise requires, the terms defined in this 
 section have the following meaning given to them.  

    Subd. 2.  "Insurer" means any insurance company or other 
 organization licensed to write and engaged in writing property 
 or liability insurance business, including the property or 
 liability insurance components of multiperil policies, on a 
 direct basis, in this state, except where such insurer is 
 specifically exempted by statute from participation in this 
 program.  

    Subd. 3.  "Property or liability insurance" means the 
 coverage against direct loss to real or tangible personal 
 property at a fixed location that is provided in the standard 
 fire policy, extended coverage endorsement, homeowners 
 insurance, as defined in section 65A.27, subdivision 4, 
 cooperative housing insurance, condominium insurance, builders 
 risk, and such vandalism and malicious mischief insurance and 
 such other classes of insurance as may be added to the program 
 with respect to said property by amendment as hereinafter 
 provided.  Property or liability insurance does not include 
 automobile, commercial liability, or such manufacturing risks as 
 may be excluded by the commissioner.  

    Subd. 4.  "Minnesota property insurance placement 
 facility," hereinafter referred to as the facility, means the 
 organization formed by insurers to assist applicants in securing 
 property or liability insurance and to administer the FAIR plan. 

    Subd. 5.  "Inspection bureau" means the rating organization 
 designated by the facility, with the approval of the 
 commissioner, to make inspections as required under sections 
 65A.31 to 65A.42 and to perform such other duties as may be 
 authorized by the facility.  

    Subd. 6.  "Premiums written" means gross direct premiums 
 charged during the second preceding calendar year with respect 
 to property in this state on all policies of property or 
 liability insurance and the property or liability insurance 
 premium components of all multiperil policies, as computed by 
 the facility, less return premiums, dividends paid or credited 
 to policyholders, or the unused or unabsorbed portions of 
 premium deposits.  

    Subd. 7.  "Commissioner" means the commissioner of commerce 
 of the state of Minnesota.  

    Subd. 8. Repealed, 1993 c 248 s 17 

    HIST: 1969 c 483 s 3; 1983 c 289 s 114 subd 1; 1984 c 655 art 
 1 s 92; 1986 c 455 s 43; 1989 c 260 s 12; 1993 c 248 s 4-6; 1994 
 c 465 art 2 s 1