For purposes of this chapter:
(1) “Administrator” means an individual, partnership or corporation engaged by a workers' compensation self-insurance group's board of trustees to carry out the policies established by the group's board of trustees and to provide day-to-day management of the group.
(2) “Commissioner” means the Commissioner of Insurance.
(3) “Insolvent” or “insolvency” means the same as “impairment” or “insolvency” as those terms are defined in § 5901(1) of this title as if the group were a reciprocal insurer.
(4) “Net premium” means premium derived from standard premium adjusted by any advance premium discounts.
(5) “Public employer” means a county, incorporated municipality, school district, parking authority or other instrumentality or political subdivision of the State itself.
(6) “Service company” means a person or entity which provides services not provided by the administrator, including but not limited to:
a. Claims adjustment;
b. Safety engineering;
c. Compilation of statistics and the preparation of premium, loss, and tax reports;
d. Preparation of other required self-insurance reports;
e. Development of members' assessments and fees; and
f. Administration of a claim fund.
(7) “Standard premium” means the premium derived from the filed rates adjusted by experience modification factors but before advance premium discounts.
(8) “Workers' compensation” when used as a modifier of “benefits,” “liabilities,” or “obligations,” means both workers' compensation and employers' liability.
(9) “Workers' compensation self-insurance group” or “group” means a not-for-profit unincorporated association consisting of 5 or more private or public employers who are engaged in the same or similar type of business, who are members of the same bona fide trade or professional association which has been in existence for not less than 5 years and who enter into agreements to pool their liabilities for workers' compensation benefits and employers' liability in this State.