As used in this part, unless the context otherwise requires:
(1) “Association” means the Tennessee insurance guaranty association;
(2) “Bonds” means all bonds, notes or other obligations issued by the authority under this part;
(3) “Claim” or “claims” means a covered claim as defined in § 56-12-104, to be paid from the issuance of bonds under this part in the event of insolvencies as described in § 56-12-107(b)(3); and
(4) “Natural disaster” means any hurricane, tornado, storm, flood, high water, wind-driven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm, ice storm, drought, fire, explosion, civil disturbance or other catastrophe that causes or may cause substantial damage or injury to property.