Section 1. The following words, as used in this chapter, unless the context otherwise requires or a different meaning is specifically prescribed, shall have the following meanings:

''Certified fund'', a fund holding a certificate issued pursuant to section three and not revoked pursuant to section ten;

''Commissioner'', the commissioner of insurance;

''Fund'', a health care provider self-insurance trust fund;

''Health care provider'', a licensed hospital, clinic, nursing home, health maintenance organization, foundation, educational institution engaged in the training of health care personnel; or society of such other classification of health care providers, as that term is defined in section six of chapter three hundred and sixty-two of the acts of nineteen hundred and seventy-five, for which the commissioner determines that medical malpractice insurance is not adequately available at reasonable cost;

''Health care provider self-insurance trust fund'', a trust fund established in accordance with the provisions of this chapter to provide insurance to a group of two or more participating health care providers;

''Insurance'', formal self-insurance or commercial insurance, or a combination thereof, covering risks of medical malpractice liability and general liability of any participating health care provider, and, at the option of the fund, of any affiliated institution or person of a participating health care provider, and of staff members of participating health care providers and affiliates who are full-time employees or who satisfy other reasonable criteria for coverage. A fund with a participant which is a society of individual health care providers who are natural persons shall provide only medical malpractice coverage to the members of that society. Insurance shall include all layers of coverage, on either a claims made or occurrence basis, and reinsurance by one fund of the risk of another fund;

''Participating health care provider'' or ''Participant'', a health care provider that is a settlor or grantor and beneficiary of a health care provider self-insurance trust fund;

''Trustee'', the trustee of a fund.