Terms Used In Indiana Code 27-1-42-1

• certificate of insurance: means a document prepared by an insurer or insurance producer as evidence of property or casualty insurance coverage. See Indiana Code 27-1-42-2
• Contract: A legal written agreement that becomes binding when signed.
• 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
• insurance producer: has the meaning set forth in Indiana Code 27-1-42-5
• insurer: refers to an insurer (as defined in IC 27-1-2-3) that issues a policy of property or casualty insurance. See Indiana Code 27-1-42-6
• person: has the meaning set forth in IC 27-1-2-3. See Indiana Code 27-1-42-7
• policyholder: means one who is a holder of a contract of insurance in an insurance company. See Indiana Code 27-1-2-3
• Property: includes personal and real property. See Indiana Code 1-1-4-5