31 Pa. Code § 67b.1

Current through Register Vol. 54, No. 49, December 7, 2024
Section 67b.1 - Definitions

The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Assigned Risk Plan-As defined in section 7 of the Motor Vehicle Financial Responsibility Law, 75 Pa.C.S. § 1702 (relating to definitions).

Commissioner-The Insurance Commissioner of the Commonwealth.

Department-The Insurance Department of the Commonwealth.

Governing committee-The governing body that administers the Plan.

Nonfleet-Four or fewer motor vehicles of any type.

Plan-Assigned Risk Plan.

Producer-An agent or broker, certified or licensed, by the Department to conduct business and certified by the Plan.

Producer of record-The agent or broker, certified or licensed, by the Department to conduct business, certified by the Plan and whose signature appears on the application for insurance.

Risk-Refers to private passenger nonfleet vehicles.

Take-out-An offer from the assigned company to write voluntary market coverage for a private passenger nonfleet automobile risk insured by the Plan.

Take-out notice-A notice from the assigned company offering voluntary market coverage to a private passenger nonfleet automobile risk insured by the Plan.

31 Pa. Code § 67b.1