379.815. Definitions.

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379.815. Definitions. — As used in this section, the following terms mean:

(1)"All-industry placement facility" (hereinafter referred to as "the facility" ), the organization formed by insurers to assist applicants in securing basic property insurance, to issue policies and to administer the program and the joint reinsurance association;

(2)"Basic property insurance" , the coverage against direct loss to real and tangible personal property at a fixed location that is provided in the standard fire policy and extended coverage endorsement, including builders' risk, and such vandalism and malicious mischief endorsements, and such other classes of insurance as may be added to the program with respect to the property by amendment as hereinafter provided. Basic property insurance does not include automobile risks or such types of manufacturing risks as the governing committee may exclude with the approval of the director. Any contract, as defined in section 375.918 , of the facility shall be subject to the provisions of section 375.918 ;

(3)"Commercial" , basic property insurance not included under the personal lines statistical plan;

(4)"Director" , the director of the department of commerce and insurance of the state of Missouri;

(5)"Habitational" , basic property insurance included under the personal lines statistical plan;

(6)"Inspection bureau" , the rating bureau or other organization designated by the facility with the approval of the director to make inspections as required under the program and to perform such other duties as may be authorized by the facility;

(7)"Insurer" , any insurance company, reciprocal or interinsurance exchange or other organization licensed and authorized by the director to write property insurance, including the property insurance components of multiperil policies, on a direct basis, in this state;

(8)"Person" includes any individual or group of individuals, corporation, partnership, or association, or any other organized group of persons;

(9)"Premiums written" , gross direct premiums (excluding that portion of premium on risks ceded to the joint reinsurance association) charged during the second preceding calendar year with respect to property in this state on all policies of basic property insurance and the basic property 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;

(10)"Property owner" , with respect to any real, personal, or mixed real and personal property, means any person having an insurable interest in such property;

(11)"Secretary" , the Secretary of the United States Department of Housing and Urban Development.

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(L. 1969 H.B. 772 § 379.131, A.L. 1986 S.B. 701, A.L. 2004 S.B. 1299)