The following words and terms, when used in this subchapter, have the following meanings, unless the context clearly indicates otherwise:
Act-75 Pa.C.S. §§ 1701-1798 (relating to the Motor Vehicle Financial Responsibility Law).
Department-The Insurance Department of the Commonwealth.
Insured-Named insured and the following persons if residing in the household of the named insured: A spouse of the named insured, a relative of the named insured, and a minor in the custody of the named insured or the spouse or relative of the named insured.
Insurer-An insurance company, association, or exchange providing coverage on motor vehicles under the act.
Named insured-A person or entity identified by name as an insured in a policy.
Policy-An insurance policy which provides coverage to satisfy the financial responsibility requirements of the act.
Prospective insured-A person or entity applying for insurance coverage on a motor vehicle under the act.
31 Pa. Code § 67.32