Sec. 8. (a) A self-storage facility shall not sell, solicit, or negotiate self-storage insurance unless the self-storage facility holds a limited lines producer’s license issued under IC 27-1-15.6-18 to sell, solicit, or negotiate self-storage insurance.

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Terms Used In Indiana Code 27-1-16.1-8

  • customer: means a person that obtains the use of storage space from a self-storage facility under the terms of a self-storage rental agreement. See Indiana Code 27-1-16.1-2
  • 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
  • self-storage facility: means a person that is engaged in the business of providing rented storage space to the public. See Indiana Code 27-1-16.1-4
  • self-storage insurance: means :

    Indiana Code 27-1-16.1-5

  • supervising entity: means a business entity that:

    Indiana Code 27-1-16.1-7

     (b) A limited lines producer’s license required by subsection (a) authorizes each of the following to sell, solicit, or negotiate self-storage insurance to a customer at each of a self-storage facility’s locations in Indiana:

(1) The self-storage facility.

(2) Each of the self-storage facility’s employees or authorized representatives, regardless of whether the employee or authorized representative is individually licensed under IC 27-1-15.6, if the insurer that issues the self-storage insurance directly supervises or appoints a supervising entity to supervise:

(A) the administration of the self-storage insurance sold by the self-storage facility; and

(B) a training program for the employees and authorized representatives.

     (c) The following apply to a training program described in subsection (b):

(1) The training must be provided to any employee or authorized representative who is directly engaged in the sale, solicitation, or negotiation of self-storage insurance.

(2) Initial training of an employee or authorized representative:

(A) must be provided before the employee or authorized representative engages in the sale, solicitation, or negotiation of self-storage insurance; and

(B) may be provided in electronic form or another form.

(3) Continuing training of an employee or authorized representative:

(A) must be provided on a periodic basis; and

(B) may be provided in electronic form or another form.

(4) The training must be developed and overseen by employees of the supervising entity who are licensed as insurance producers under IC 27-1-15.6 with the qualifications described in IC 27-1-15.6-7(a)(3) and IC 27-1-15.6-7(a)(4).

(5) The training must provide basic instruction concerning the:

(A) self-storage insurance offered to customers of the self-storage facility; and

(B) disclosures required by section 10 of this chapter.

     (d) An employee or authorized representative of a self-storage facility shall not:

(1) sell, solicit, or negotiate self-storage insurance except in connection with and incidental to the rental of storage space by the self-storage facility; or

(2) advertise or represent that the self-storage facility is an insurance producer other than a limited lines producer licensed under IC 27-1-15.6.

As added by P.L.81-2013, SEC.3.

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