W. Va. Code R. § 114-21-2

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-21-2 - Definitions

As used in this legislative rule:

2.1. Producer means an individual insurance producer licensed by the Commissioner to sell property and casualty insurance in West Virginia.

2.2. Association means the West Virginia Essential Property insurance Association.

2.3. Board means the Board of Directors of the Association.

2.4. Commissioner means the West Virginia Insurance Commissioner.

2.5. Eligible applicant means any person having an insurable interest in habitational or commercial property eligible for coverage under the provisions of this legislative rule and the Association's Plan of Organization.

2.6. Extended coverage insurance means indemnification against loss caused by the perils of fire, lightning, riot, explosion, vehicle, smoke, hail, aircraft, and wind.

2.7. Essential Property Insurance Coverage means fire and extended coverage insurance as well as any other kind of insurance that the Commissioner finds is required by the public interest but which is not readily available in the voluntary insurance market. Such a finding may only be made after a public hearing conducted by the Commissioner.

2.8. Insurer means any insurance company authorized to write and engage in writing essential property insurance coverage in West Virginia.

W. Va. Code R. § 114-21-2