Terms Used In Indiana Code > Title 27 > Article 6 > Chapter 9 - Reinsurance Intermediaries

• actuary: means a person who is a member in good standing of the American Academy of Actuaries. See Indiana Code 27-6-9-1
• commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-6-9-2
• Contract: A legal written agreement that becomes binding when signed.
• controlling person: means any person, firm, association, limited liability company, or corporation who directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of a reinsurance intermediary. See Indiana Code 27-6-9-3
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
• insurer: means any person, firm, association or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer. See Indiana Code 27-6-9-4
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• licensed producer: means an insurance producer, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law. See Indiana Code 27-6-9-5
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• qualified United States financial institution: means an institution that:

  Indiana Code 27-6-9-11

• reinsurance intermediary: means :

  Indiana Code 27-6-9-6

• reinsurer: means any person, firm, association, or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer with the authority to assume reinsurance. See Indiana Code 27-6-9-9
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• to be in violation: means that the reinsurance intermediary, insurer, or reinsurer for whom the reinsurance intermediary was acting failed to substantially comply with the provisions of this chapter. See Indiana Code 27-6-9-10
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5