191—20.43 (515,515F) Definitions.
“Basic property insurance” means insurance against direct loss to property as defined in the standard fire policy and extended coverage, vandalism, and malicious mischief endorsements; homeowners insurance; and such other coverage or classes of insurance as may be added to the FAIR Plan by the commissioner. Basic property insurance shall include:
	  1. 	 Coverage provided in the customary fire policy and in the customary extended coverage and builders risk endorsements.
	  2. 	 Coverage against loss or damage by burglary or theft, or both.
	  3. 	 Coverage at least equivalent to that provided in a modified coverage form homeowners policy.
“Habitational risk” means:
	  1. 	 Dwellings, permanent or seasonal, designed for occupancy by not more than four families or containing not more than four apartments.
	  2. 	 Private outbuildings used in connection with any of the risks described in “1.”
	  3. 	 Trailer homes at a fixed location.
	  4. 	 Household and personal property in risks described in “1” to “3.”
	  5. 	 Tenants’ contents in dwellings or apartment houses.
“Iowa FAIR Plan”  or “the Plan”  means the nonprofit, unincorporated mandatory risk-sharing facility established by this division to provide for basic property insurance.
“Location” means a single building and its contents, or contiguous buildings and their contents, under one ownership.
“Manufacturing risks” means those risks eligible to be written under the customary manufacturing business interruption policy forms approved by the commissioner. The following are not considered manufacturing risks:
	  1. 	 Dry cleaning and laundering—Carpet, rug, furniture, or upholstery cleaning; diaper service or infants’ apparel laundries; dry cleaning; laundries; linen supply.
	  2. 	 Installation, servicing and repair—Electrical equipment; electronic equipment; glazing; household furnishings and appliances; office machines; plumbing, heating and air conditioning; protective systems for premises, vaults and safes.
	  3. 	 Laboratories—Blood banks; dental laboratories; medical or X-ray laboratories.
	  4. 	 Duplicating or similar services—Blueprinting and photocopying services; bookbinding; electrotyping; engraving; letter service (mailing or addressing companies); linotype or hand composition; lithographing; photo engraving; photo finishing; photographers (commercial).
	  5. 	 Warehousing—Cold storage (locker establishments); cold storage warehouse; furniture or general merchandise warehouse.
	  6. 	 Miscellaneous—Barber shops; beauty parlors; cemeteries; dog kennels; electroplating; equipment rental (not contractors’ equipment); film and tape rental; funeral directors; galvanizing, tinning, detinning; radio broadcasting, commercial wireless and television broadcasting; taxidermists; telephone or telegraph companies; textiles (bleaching, dyeing, mercerizing or finishing of property of others); veterinarians and veterinary hospitals.
“Motor vehicles” means vehicles which are self-propelled.
“Weighted premiums written” means:
	  1. 	 Gross direct premiums less return premiums, dividends paid or credited to policyholders, or the unused or unabsorbed portions of premium deposits, with respect to property in this state excluding premiums on risks insured under the Plan, for basic property insurance, for homeowners multiple peril policies, for farm dwelling policies and for the basic property insurance premium components of all other multiple peril policies.
	  2. 	 In addition, 100 percent of the premiums obtained for homeowners multiple peril policies shall be added to 100 percent of the premiums obtained for basic property insurance and the basic property insurance premium components of all other multiple peril policies. The basic year for the computation shall be the first preceding calendar year.