Terms Used In Louisiana Revised Statutes > Title 33 > Chapter 10-C - Performance-Based Energy Efficiency Contracts

• 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: shall mean the commissioner of insurance. See Louisiana Revised Statutes 22:1451
• Ex officio: Literally, by virtue of one's office.
• 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
• 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
• Oversight: Committee review of the activities of a Federal agency or program.
• 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

• 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