Texas Insurance Code 4151.001 – Definitions
Terms Used In Texas Insurance Code 4151.001
- 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.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
In this chapter:
(1) “Administrator” means a person who, in connection with annuities or life benefits, health benefits, accident benefits, pharmacy benefits, or workers’ compensation benefits, collects premiums or contributions from or adjusts or settles claims for residents of this state. The term includes a delegated entity under Chapter 1272 and a workers’ compensation health care network authorized under Chapter 1305 that administers a workers’ compensation claim for an insurer, including an insurer that establishes or contracts with the network to provide health care services. The term does not include a person described by Section 4151.002.
(2) “Insurer” means a person who engages in the business of life, health, accident, or workers’ compensation insurance under the law of this state. For purposes of this chapter only, the term also includes an “insurance carrier,” as defined by Section 401.011(27), Labor Code, other than a governmental entity or a workers’ compensation self-insurance group subject to regulation under Chapter 407A, Labor Code.
(3) “Person” means an individual, partnership, corporation, organization, government or governmental subdivision or agency, business trust, estate trust, association, or any other legal entity.
(4) “Plan” means a plan, fund, or program established, adopted, or maintained by a plan sponsor or insurer to the extent that the plan, fund, or program is established, adopted, or maintained to provide indemnification or expense reimbursement for any type of life, health, or accident benefit.
(5) “Plan sponsor” means a person, other than an insurer, who establishes, adopts, or maintains a plan that covers residents of this state, including a plan established, adopted, or maintained by two or more employers or jointly by one or more employers and one or more employee organizations, an association, a committee, a joint board of trustees, or any similar group of representatives who establish, adopt, or maintain a plan.
(6) “Workers’ compensation benefits” means benefits provided under Title 5, Labor Code, or services provided through a certified workers’ compensation health care network authorized under Chapter 1305.
(7) “Workers’ compensation insurance coverage” means coverage subject to Subtitle E, Title 10. The term includes coverage described by Sections 401.011(44)(A) and (B), Labor Code.
(8) “Workers’ compensation self-insurer” means a legal entity subject to regulation under Chapter 407, Labor Code.