Sec. 4. (a) An insurer authorized under IC 27-1-3-20 to transact business as a property and casualty insurance company may provide property and casualty insurance to a permitted group on a group basis.

     (b) A policy may not be issued or renewed to provide group coverage under this chapter to a group that includes fewer than ten (10) commercial, business, or not-for-profit entities as part of the group.

As added by P.L.165-2022, SEC.5.

Terms Used In Indiana Code 27-1-30.4-4

  • 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
  • permitted group: means a group of ten (10) or more commercial, business, or not-for-profit entities that have a preexisting relationship to one another through:

    Indiana Code 27-1-30.4-1

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • property and casualty insurance: means one (1) or more of the types of insurance described in IC 27-1-5-1, Class 2 and Class 3. See Indiana Code 27-1-30.4-2
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