For purposes of this chapter, "industrial insured" means a person who purchases commercial insurance and, at the time of placement:

1. (1) employs or retains a qualified risk manager to negotiate insurance coverage; and

2. (2) either:

   1. (A) has paid aggregate nationwide commercial property and casualty insurance premiums of more than $25,000 in the immediately preceding 12 months; or
   2. (B) employs at least 25 full-time employees.

Added by Acts 2017, 85th Leg., R.S., Ch. 92 (H.B. 1559), Sec. 1, eff. September 1, 2017.