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e-CFR data is current as of January 14, 2021

Title 49Subtitle BChapter VPart 582 → §582.3


Title 49: Transportation
PART 582—INSURANCE COST INFORMATION REGULATION


§582.3   Definitions.

(a) Statutory definitions. All terms used in this part which are defined in section 2 of the Cost Savings Act are used as so defined.

(b) Definitions used in this part. (1) Automobile dealer means any person who engages in the retail sale of new automobiles as a trade or business.

(2) Collision insurance means insurance that reimburses the insured party for physical damage to his property resulting from automobile accidents.

(3) Insurance cost means the insurance premium rate, as expressed in appropriate indices, for collision and medical payment, including personal injury protection in no-fault states.

(4) Medical payment insurance means insurance that reimburses the insured party for medical expenses sustained by himself, his family, and his passengers in automobile accidents.

[40 FR 4918, Feb. 3, 1975, as amended at 58 FR 12550, Mar. 5, 1993]

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