Terms Used In Indiana Code 27-1-12.1-9

• certificate of authority: means an instrument in writing issued by the department to an insurer, which sets out the authority of such insurer to engage in the business of insurance or activities connected therewith. See Indiana Code 27-1-2-3
• Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
• 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
• life insurance company: means any company making one or more of the kinds of insurance set out and defined in class 1(a) of IC 27-1-5-1. See Indiana Code 27-1-2-3
• limited purpose subsidiary: means a subsidiary life insurance company that is organized under this chapter. See Indiana Code 27-1-12.1-2
• organizing domestic life insurance company: refers to a life insurance company that organizes a limited purpose subsidiary under this chapter. See Indiana Code 27-1-12.1-3