In this chapter the following terms have the meanings indicated. Terms Defined. “Expiring premium” means: The dollar amount of the premium charged at the beginning of the expiring policy term; and If different, the dollar amount of the premium: Charged at the time the insurer issues the notice required by Regulation .04 of this chapter; and Stated on an annualized basis. “Insurer” means an authorized property or casualty insurer that issues or delivers a policy of personal insurance in the State or a policy issued under the Maryland Property Insurance Availability Act or any similar act instituted to ensure the availability of property insurance. “Maryland Property Insurance Availability Act” means insurance described in Insurance Article, Title 25, Subtitle 4, Annotated Code of Maryland. “Personal insurance” means a policy of property insurance or casualty insurance as defined by Insurance Article, §27-601(c), Annotated Code of Maryland. “Renewal premium” means the dollar amount of the premium to be charged for the next policy term.