Indiana Code 27-1-12.8-4. “Company”
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Sec. 4. As used in this chapter, “company” is limited to a company that has:
(A) policy of insurance described in Class 1(a) or Class 1(c)(1) of IC 27-1-5-1; or
(1) issued, delivered, or reinsured at least one (1):
Terms Used In Indiana Code 27-1-12.8-4
- 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
- Contract: A legal written agreement that becomes binding when signed.
- contract: means a contract or a policy. See Indiana Code 27-1-12.8-6
- 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
(B) policy of insurance or contract described in Class 1(b), Class 1(c)(2), or Class 2(a) of IC 27-1-5-1;
in Indiana that is in force or subject to at least one (1) outstanding claim; or
(2) issued, delivered, or reinsured a policy or contract described in subdivision (1)(A) or (1)(B) in another state and is required to hold a certificate of authority to issue, deliver, or reinsure a policy or contract described in subdivision (1)(A) or (1)(B) in Indiana.
As added by P.L.276-2013, SEC.10.