Pennsylvania Statutes Title 40 P.S. Insurance § 21. Certain words defined

The word “company,” as used in this act, shall be construed to include only incorporated insurance companies, and corporations possessing the power to insure owners of real property, mortgagees, and others interested in real property from loss by reason of defective titles, liens, and encumbrances, whether incorporated under the laws of this Commonwealth, or of any other State, territory or district, or under the laws of any foreign country.

Except where otherwise indicated, the word “association,” as used in this act, shall be construed to include only individuals, partnerships, or associations of individuals, authorized to engage in the business of insurance in the Commonwealth as insurers on the Lloyds plan.

The word “exchange,” as used in this act, shall be construed to include only individuals, partnerships, and corporations, authorized by the laws of the Commonwealth to exchange with each other inter-insurance or reciprocal insurance contracts.