Indiana Code 27-1-24.5-28. Violation of chapter
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Sec. 28. (a) A violation of this chapter is an unfair or deceptive act or practice in the business of insurance under IC 27-4-1-4.
(b) The department may also adopt rules under IC 4-22-2 to set forth fines for a violation under this chapter.
As added by P.L.68-2020, SEC.1.
Terms Used In Indiana Code 27-1-24.5-28
- Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
- 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