Indiana Code 27-1-30-5. Issuance of group policies
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Terms Used In Indiana Code 27-1-30-5
- casualty and liability insurance: means the types of insurance described in IC 27-1-5-1, Class 2(h) and 2(l). See Indiana Code 27-1-30-2
- casualty insurance company: has the meaning set forth in IC 27-1-2-3(t). See Indiana Code 27-1-30-3
- 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
- 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
Sec. 5. An insurer authorized under IC 27-1-3-20 to transact business as a casualty insurance company may provide casualty and liability insurance to foster parents on a group basis. A policy may not be issued or renewed to provide group coverage under this chapter to a group that includes fewer than ten (10) members.
As added by P.L.270-1987, SEC.2.