Indiana Code 27-1-1.5-17. “Financial Regulation Standards and Accreditation Program”
Current as of: 2023 | Check for updates
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Sec. 17. “Financial Regulation Standards and Accreditation Program” refers to the accreditation program through which the NAIC certifies that state insurance departments have demonstrated compliance with legal, financial, organizational, licensing, and control standards established by the NAIC and described in the document entitled “Financial Regulation Standards and Accreditation Program” that is:
(2) in effect on January 1, 2018.
(1) adopted by the NAIC; and
Terms Used In Indiana Code 27-1-1.5-17
- 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
As added by P.L.124-2018, SEC.1.