(a) “Authority” means the Virgin Islands Windstorm and Earthquake Insurance Authority created by this chapter;
(b) “Board” means the Board of Directors of the Authority or the Interim Board of Directors, as the case may be;
(c) “Covered event” means a windstorm or earthquake that directly or indirectly causes damage in the Territory of the Virgin Islands;
(d) “Earthquake” means any shaking or trembling of the crust of the earth, caused by forces operating within the earth itself, such as underground volcanic forces, or by breaking and shifting of rock beneath the surface and not to mere superficial effects of external forces, such as erosion by run-off rainwater.
(e) “Earthquake insurance” means a policy issued by the Authority insuring only against damage to eligible property caused by a covered event.
(f) “Eligible property” means certain property located within the Territory which is determined by the Authority to be insurable in accordance with the Plan of Operation and which is used for residential purposes;
(g) “Insurance Commissioner” means the same person as that intended by section 51 of chapter 3 of this title;
(h) “Plan of Operation” means the written plan for providing windstorm and earthquake property insurance, and any amendments thereto, as required to be adopted by this chapter;
(i) “Property insurance” means the same as is defined in section 454 of chapter 19 of this title;
(j) “Servicing facility” means any person, agent, or insurer authorized to write windstorm and earthquake property insurance on behalf of the Authority;
(k) “Windstorm” means tropical storms and hurricanes, as designated by the National Hurricane Center, with sufficient wind velocity to cause property damage in the Territory of the Virgin Islands.
(l) “Windstorm property insurance” means a policy issued by the Authority insuring only against damage to eligible property caused by a covered event.