Sec. 20. (a) As used in this section, “any one (1) risk” means a risk or hazard that arises in connection with any one (1) piece or parcel of property, whether or not the policy insures other property.

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Terms Used In Indiana Code 27-7-3-20

  • company: shall mean and include any corporation, domestic or foreign, to which this chapter is applicable. See Indiana Code 27-7-3-2
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • title insurance: means a contract of insurance against loss or damage on account of encumbrances upon or defects in the title to real estate. See Indiana Code 27-7-3-2
     (b) Any company organized to issue title insurance in Indiana may not expose itself to any one (1) risk in an amount exceeding fifty percent (50%) of the aggregate amount of its total capital and surplus and its reserves other than its loss of claim reserves.

     (c) Any risk or portion of any risk that has been reinsured as authorized under IC 27-7, must be deducted in determining the limitation of risk prescribed in this section.

As added by Acts 1982, P.L.162, SEC.2.

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