Terms Used In Indiana Code > Title 27 > Article 1 > Chapter 41 - Group Personal Excess or Umbrella Liability Insurance

• certificate: means a document issued to an individual group member as evidence of the group member's coverage under a master group insurance policy. See Indiana Code 27-1-41-1
• Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
• Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• group: means the following:

  Indiana Code 27-1-41-2

• group administrator: means the officers or directors of a group or any other person legally vested with the responsibility to manage the affairs of a group. See Indiana Code 27-1-41-3
• group insurance policy: means a policy of insurance that provides personal excess liability insurance or personal umbrella liability insurance to participating group members under one (1) master policy:

  Indiana Code 27-1-41-4

• 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
• member: means one who holds a contract of insurance or is insured in an insurance company other than a stock corporation. See Indiana Code 27-1-2-3
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• 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
• premium: means money or any other thing of value paid or given in consideration to an insurer, insurance producer, or solicitor on account of or in connection with a contract of insurance and shall include as a part but not in limitation of the above, policy fees, admission fees, membership fees and regular or special assessments and payments made on account of annuities. See Indiana Code 27-1-2-3