Terms Used In California Codes > Insurance Code > Division 1 > Part 2 > Chapter 1 > Article 13.3 - Obligations of Automobile Insurers and Their Agents Under Contingent and Retrospective Compensation Arrangements

• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• contingent compensation arrangement: means an arrangement having as its purpose the payment of a variable commission by the insurer, depending on the overall operating profit on the insurance business produced and handled by the payee, with other provisions of the arrangement auxiliary or incidental to such purpose. See California Insurance Code 995
• Contract: A legal written agreement that becomes binding when signed.
• Customer: means any person who requests a repairperson to do work on a vessel which is in the possession of that person. See California Harbors and Navigation Code 410
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• policy fee: means any sum specified in the policy as paid, or payable, in addition to the specified premium, as a consideration for the policy. See California Insurance Code 995
• Repairperson: means any person engaged in the business of repairing vessels. See California Harbors and Navigation Code 410
• retrospective commission arrangement: means an arrangement having as its purpose the retention by the insurer of a fixed proportion of the gross premiums, or gross premiums plus policy fees with the balance of the premiums, or premiums plus policy fees, retained by the producer of the business, who assumes to pay therefrom all losses, all subordinate commissions, loss adjustment expenses and his profit, if any, with other provisions of the arrangement auxiliary or incidental to such purpose. See California Insurance Code 995
• Surplus line broker: means a person licensed under Section 1765 and authorized to do business under Chapter 6 (commencing with Section 1760) of Part 2 of Division 1. See California Insurance Code 47
• Vessel: includes ships of all kinds, steamboats, steamships, canal boats, barges, sailing vessels, and every structure adapted to be navigated from place to place for the transportation of merchandise or persons. See California Harbors and Navigation Code 21
• Vessel: means any vessel which is subject to registration with the Department of Motor Vehicles and which is manufactured or used for noncommercial purposes or is leased, rented, or chartered to another for noncommercial use. See California Harbors and Navigation Code 410