Indiana Code 27-1-35-17. Civil actions by commissioner
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Terms Used In Indiana Code 27-1-35-17
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- controlled: has the meaning set forth in IC 27-1-23-1. See Indiana Code 27-1-35-4
- controlled insurer: means a licensed insurer that is controlled, directly or indirectly, by a producer. See Indiana Code 27-1-35-5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- insurer: means any person, firm, association, or corporation licensed to transact a property/casualty insurance business in Indiana. See Indiana Code 27-1-35-7
- policyholder: means one who is a holder of a contract of insurance in an insurance company. See Indiana Code 27-1-2-3
Sec. 17. If the commissioner finds that because of a material noncompliance under section 16 of this chapter the controlled insurer or any policyholder of the controlled insurer has suffered any loss or damage, the commissioner may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.