Indiana Code 27-1-22-2.5. “Commercial policyholder” defined
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Terms Used In Indiana Code 27-1-22-2.5
- 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
Sec. 2.5. As used in this chapter, “commercial policyholder” means a business, nonprofit, or governmental entity that purchases a policy of commercial insurance through an insurance producer licensed under IC 27-1-15.6 or IC 27-1-15.8.
As added by P.L.268-1999, SEC.11. Amended by P.L.132-2001, SEC.6; P.L.178-2003, SEC.21; P.L.193-2006, SEC.7.