Terms Used In Indiana Code > Title 27 > Article 1 > Chapter 39 - Independent Educational Institution Self-Insurance Consortium

• commissioner: means the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-1-39-1
• consortium: refers to a self-insurance consortium established under section 7 of this chapter. See Indiana Code 27-1-39-2
• department: refers to the department of insurance created by IC 27-1-1-1. See Indiana Code 27-1-39-3
• Fraud: Intentional deception resulting in injury to another.
• independent postsecondary educational institution: refers to an independent, degree granting college or university that is:

  Indiana Code 27-1-39-4

• Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
• insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• member: means an independent postsecondary educational institution that enters into an agreement under section 7 of this chapter to form a consortium. See Indiana Code 27-1-39-5
• person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• self-insurance fund: means a fund established by a consortium to provide money sufficient to:

  Indiana Code 27-1-39-6

• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5