Indiana Code 27-1-16.1-13. Eligibility and underwriting standards
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Sec. 13. The:
(2) supervising entity that supervises a self-storage facility with respect to a self-storage insurance policy;
(1) insurer that issues a self-storage insurance policy; or
Terms Used In Indiana Code 27-1-16.1-13
- 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
shall establish eligibility and underwriting standards for each self-storage insurance policy that is sold, solicited, or negotiated by a self-storage facility.
As added by P.L.81-2013, SEC.3.