WILLIAM DONALD SCHAEFER, Governor Ch. 566

[(10)] (6) To utilize fully the voluntary insurance
market as a source of essential property and homeowner's
insurance.

478B.

As used in this subtitle, unless the context otherwise
requires:

(1) "ACT" MEANS THE MARYLAND PROPERTY INSURANCE
AVAILABILITY ACT.

[(1)] (2) "Association" means the joint insurance
association formed by insurers to assist applicants [in urban
areas] in securing essential property insurance[,] and CERTAIN
HOMEOWNER'S INSURANCE AND to administer a program under this
subtitle.

[(2)] (3) "Commissioner" means the State Insurance
Commissioner of Maryland.

[(3) "Inspection bureau" means the organizations
designated by the association with the approval of the
Commissioner to make inspections as required under this subtitle
and to perform other duties as may be authorized by the
association.]

(4)  "Insurer" means any insurance company or other
organization which is authorized to engage in the insurance
business under the laws of any state.

(5)  "MANUFACTURING RISKS" MEANS ALL PROPERTIES USED
FOR FABRICATION, PROCESSING, OR ASSEMBLY OF PRODUCTS OR
COMPONENTS OF PRODUCTS:

(I)  WHICH EMPLOY AT LEAST 25 PERSONS; AND

(II)  THE INSURABLE VALUE OF WHICH IS IN EXCESS
OF $250,000.

[(5)] (6) "Premiums written" means gross direct
premiums (excluding premiums or portions of premiums relating to
risks ceded to the joint insurance association) charged during
the second preceding calendar year with respect to property in
this State on all policies of essential property insurance and
the essential property insurance components of multi-peril
policies as computed by the association, less return premiums,
dividends paid or credited to policyholders, or the unused or
unabsorbed portions of premium deposits.

[(6)] (7) "Essential property insurance" means
insurance against direct loss to property [as defined and limited
in standard fire policies and extended coverage endorsement and

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