Terms Used In Louisiana Revised Statutes > Title 16 > Chapter 2 > Part XVIII - Twenty-First Judicial District

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Arrest: Taking physical custody of a person by lawful authority.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Blanket travel insurance: means travel insurance issued to any eligible group providing coverage for specified circumstances and specific classes of persons defined in the policy and issued to a policyholder and not by specifically naming the persons covered, by certificate or otherwise, although a statement of the coverage provided may be given, or required by policy to be given, to eligible persons. See Louisiana Revised Statutes 22:1352
• classification: means the process of grouping risks with similar risk characteristics so that differences in costs may be recognized. See Louisiana Revised Statutes 22:1452
• Commissioner: means the commissioner of insurance of this state. See Louisiana Revised Statutes 22:1352
• commissioner: shall mean the commissioner of insurance. See Louisiana Revised Statutes 22:1451
• Competitive market: means any market except those which have been found to be noncompetitive pursuant to La. See Louisiana Revised Statutes 22:1452
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Excessive: means a rate that is likely to produce a long-term profit that is unreasonably high for the insurance provided. See Louisiana Revised Statutes 22:1452
• Expenses: means that portion of a rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees and does not include loss adjustment expenses. See Louisiana Revised Statutes 22:1452
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Group travel insurance: means travel insurance issued to any eligible group. See Louisiana Revised Statutes 22:1352
• Inadequate: means a rate which is unreasonably low for the insurance provided and either the continued use of which endangers the solvency of the insurer using it or will have the effect of substantially lessening competition or creating a monopoly in any market. See Louisiana Revised Statutes 22:1452
• Joint underwriting: means an arrangement established to provide insurance coverage for a risk, pursuant to which two or more insurers contract with the insured for a price and policy terms agreed upon between or among the insurers. See Louisiana Revised Statutes 22:1452
• Lien: A claim against real or personal property in satisfaction of a debt.
• Line of insurance: means those lines identified in this Title or as otherwise specified by the commissioner. See Louisiana Revised Statutes 22:1452
• Market: means the interaction between buyers and sellers in the procurement of a line of insurance pursuant to the provisions of this Subpart. See Louisiana Revised Statutes 22:1452
• Nonpayment of premium: means failure of the named insured to discharge when due any of his obligations in connection with the payment of premiums on a policy, or any installment of such premium, whether the premium is payable directly to the insurer or its agent or indirectly under any premium finance plan or extension of credit. See Louisiana Revised Statutes 22:1266
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Personal property: All property that is not real property.
• Personal risk: means homeowners, tenants, nonfleet private passenger motor vehicles, mobile homes, and other property and casualty insurance for personal, family, or household needs, including any property and casualty insurance that is otherwise intended for noncommercial coverage. See Louisiana Revised Statutes 22:1452
• Policy: means an automobile liability, automobile physical damage, or automobile collision policy, or any combination thereof, delivered or issued for delivery in this state, or any binder based on such a policy, insuring a single individual or husband and wife resident of the same household, as named insured, and under which the insured vehicles therein designated are of the following types only:

              (a) A private passenger vehicle that is not used as a public or livery conveyance for passengers, nor rented to others. See Louisiana Revised Statutes 22:1266

• Pool: means an arrangement pursuant to which two or more insurers participate in the sharing of risks on a predetermined basis. See Louisiana Revised Statutes 22:1452
• Prospective loss cost: means that portion of a rate that does not include provisions for expenses or profit and is based on historical aggregate losses adjusted through development to their ultimate value, projected through trending to a future point in time, and adjusted for other considerations expected to materially affect future loss payments. See Louisiana Revised Statutes 22:1452
• Rate: means that cost of insurance per exposure unit, whether expressed as a single number or as a prospective loss cost, with an adjustment to account for the treatment of loss adjustment expenses, expenses, profit, and variation in expected future loss experience, prior to any application of individual risk variations based on actual past loss or expense considerations, and does not include minimum premiums. See Louisiana Revised Statutes 22:1452
• Supporting information: means the experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer, the interpretation of any statistical data relied upon by the filer, descriptions of methods used in making the rates, and other similar information relied upon by the filer. See Louisiana Revised Statutes 22:1452
• to renew: means the issuance and delivery by an insurer of a policy replacing at the end of the policy period a policy previously issued and delivered by the same insurer, or the issuance and delivery of a certificate or notice extending the term of a policy beyond its policy period or term. See Louisiana Revised Statutes 22:1266
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Travel administrator: means a person who directly or indirectly underwrites, collects charges, collateral, or premiums from, or adjusts or settles claims on residents of this state in connection with travel insurance except that a person shall not be considered a travel administrator if the only circumstance that would otherwise cause him to be considered a travel administrator is one of the following:

              (a) A person working for a travel administrator to the extent that his activities are subject to the supervision and control of the travel administrator. See Louisiana Revised Statutes 22:1352

• Travel protection plan: means a plan that provides any of the following:

              (a) Travel insurance. See Louisiana Revised Statutes 22:1352

• Trending: means any procedure for projecting losses to the average date of loss, or premiums or exposures to the average date of writing, for the period during which the policies are to be effective. See Louisiana Revised Statutes 22:1452
• Trustee: A person or institution holding and administering property in trust.
• Unfairly discriminatory: means not capable of being actuarially justified or based on race, color, creed, or national origin. See Louisiana Revised Statutes 22:1452